GB Logistics Commerce IPO Day 2: Check GMP, Subscription Status, Price Band, Lot Size And More
GB Logistics IPO GMP (grey market premium) was Rs 30 at 3:28 p.m. on Jan. 27, according to InvestorGain.
The initial share sale of GB Logistics Commerce Ltd. opened for subscription on Jan. 24. The company, engaged in the business of logistics, aims to raise Rs 25.07 crore through the IPO. The subscription window for this BSE SME IPO will remain open till Jan. 28.
Investors interested in the GB Logistics IPO must check these key details before subscribing to the issue.
GB Logistics IPO: All You Need To Know
The GB Logistics IPO price band has been fixed at Rs 95 to Rs 102 per share. The company has reserved 50% of the net offer size for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Retail investors need to buy at least 1,200 shares in one lot, taking the minimum investment to Rs 1,22,400 for each application.
Maashitla Securities Pvt. is the registrar for the GB Logistics IPO. SKI Capital Services Ltd. is the book-running lead manager of the issue and SVCM Securities Pvt. is its market maker.
Share allotment for the fresh issue of 24.58 lakh shares in the offer will be done on Jan. 29. The shares will be credited to the Demat accounts of successful bidders on Jan. 30, while refunds will be initiated to non-allottees on the same day.
Shares of GB Logistics are proposed to be listed on the BSE SME on Jan. 31.
GB Logistics IPO Day 2 Subscription Status
The IPO of GB Logistics has been booked 11.53 times as of 4:29 p.m. on Monday.
Qualified Institutions: 7 times
Non-Institutional Buyers: 7.7 times
Retail Investors: 15.77 times
*Subscription status will be updated at regular intervals.
GB Logistics IPO GMP Today
GB Logistics IPO GMP (grey market premium) was Rs 30 at 3:28 p.m. on Jan. 27, according to InvestorGain. This implies a listing gain of 29.41% over the upper end of the price band. As per the latest GMP, the projected listing price of the shares is expected to be Rs 132 apiece.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
GB Logistics Commerce: Business And Financials
Logistics company GB Logistics Commerce Ltd. provides high-capacity transportation and flexibility through its qualified drivers, a fleet of vehicles, and a charter network. It works with large and medium-sized enterprises to provide them with full truckload freight services.
The company has two business verticals– logistics and trading of agricultural commodities.
Use Of Proceeds
GB Logistics Ltd. will use a portion of the proceeds from the IPO to part-repay or prepay certain debts, purchase truck chassis and truck bodies and meet working capital needs. The remaining funds will be used for general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
