Mon Oct 14 05:03:15 UTC 2024: ## Pranik Logistics Sets Sail on IPO Journey, Seeking Growth in India’s Booming Logistics Sector

**New Delhi, October 7:** Pranik Logistics Limited, a leading player in India’s logistics and warehousing space, announced its Initial Public Offering (IPO) opening on October 10, 2024. The company, founded in 2015, has earned recognition for its comprehensive third-party logistics services, including transportation, warehousing, and freight forwarding, underpinned by strong infrastructure.

The IPO will see the issuance of 29,18,400 equity shares, with a face value of Rs 10 each. The funds raised will fuel Pranik Logistics’ expansion plans, particularly focusing on technological advancements and increasing its physical footprint.

Out of the total issue size, 1,61,600 shares will be reserved for market makers, while the remaining 27,56,800 shares will be available for public subscription. The allocation of the net issue will adhere to SEBI regulations, with shares designated for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs).

The proceeds from the IPO will be strategically allocated to strengthen Pranik Logistics’ working capital, invest in advanced technology systems, expand its fleet and warehousing capabilities, and improve its overall logistical infrastructure. These initiatives will further bolster the company’s service offerings to key sectors like automotive, engineering, consumer durables, and retail. A portion of the funds will also be used for general corporate purposes.

Narnolia Financial Services Limited serves as the book-running lead manager for the Issue, while Maashitla Securities Private Limited acts as the registrar.

Pranav Kumar Sonthalia, Managing Director of Pranik Logistics Limited, expressed confidence in the IPO’s contribution to the company’s growth, stating, “This IPO marks a significant step forward for Pranik Logistics as we aim to enhance our capabilities in delivering seamless logistics solutions across India. The funds will enable strategic investments in technology, fleet expansion, and increasing our warehousing footprint.”

Vipin Aggarwal, Director (Investment Banking Division) of Narnolia Financial Services, highlighted Pranik Logistics’ impressive growth trajectory in a dynamic logistics landscape. He stated, “Their dedication to operational excellence and innovation positions them as a leader in the sector. We are proud to partner with Pranik Logistics for this IPO and believe this is a great opportunity for investors to join the company’s ambitious growth journey.”

Investors interested in learning more about Pranik Logistics Limited and its IPO can visit the company website at http://www.pranikgroup.com.

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