GB Logistics Commerce IPO: The initial public offer (IPO) for GB Logistics Commerce commenced for subscription on Friday, January 24. The public offer of this logistics company is an SME issue.
The IPO witnessed strong buying interest from investors, along with a healthy trend visible in the grey market, with the public offer getting fully subscribed in less than two hours of opening.
GB Logistics Commerce IPO Subscription Status
As of 11.50 am on the first day of the book-building process, GB Logistics Commerce IPO was subscribed 2.98 times. The retail portion was booked 1.81 times, the non-institutional investor (NII) portion was subscribed 0.36 times and the qualified institutional investor portion was subscribed 7 times.
Key Details about GB Logistics Commerce IPO
Here are the key details about GB Logistics Commerce IPO that investors should know before subscribing:
1. GB Logistics Commerce IPO Date: The three-day SME IPO opened for subscription on Friday, January 24. The issue will close on Tuesday, January 28.
2. GB Logistics Commerce IPO Price Band: The price band for GB Logistics Commerce IPO has been fixed at ₹95 to ₹102 per share.
3. GB Logistics Commerce IPO Size & Structure: The company is looking to raise ₹25 crore at the upper price band of the issue. The IPO is entirely a fresh share sale of 24.58 lakh shares.
4. GB Logistics Commerce IPO Lot Size: The minimum lot size for the IPO is 1200 shares and its multiples thereof. The minimum amount needed by retail investors for subscribing to one lot is ₹1,22,400.
5. GB Logistics Commerce IPO Objective: The company will use the funds raised via IPO for repayment of certain borrowings availed by the company, working capital requirements, funding expenditure for the purchase of truck chassis and truck bodies and general corporate purposes.
6. GB Logistics Commerce IPO GMP Today: The GMP for GB Logistics Commerce IPO is ₹21 per share. At this GMP and IPO price of ₹102, the stock could list at ₹123, up 21%.
7. GB Logistics Commerce IPO Listing Date: The shares of GB Logistics Commerce will list on the BSE SME platform on Friday, January 31.
8. GB Logistics Commerce IPO BLRMs: SKI Capital Services is the book-running lead manager while Maashitla Securities is the registrar for the issue.
9. GB Logistics Commerce IPO Allotment: The allotment for GB Logistics IPO is expected to be finalised on Wednesday, January 29 with credit of shares likely on Thursday, January 30 and initiation of refund expected on same date.
10. About GB Logistics Commerce: GB Logistics Commerce operates in two main areas: logistics and trading agricultural commodities. For logistics, the company offers full truckload transportation services to large and medium businesses, using both its own and third-party trucks. Their services include regular deliveries, special handling, transportation from warehouse to warehouse, delivery above the ground floor, and handling shipments in hard-to-reach areas. Besides logistics, GB Logistics also trades agricultural products, taking advantage of opportunities that come up through their logistics operations. This helps the company earn more and strengthens its position in both the agriculture and logistics industries.
