Pranik Logistics has emerged as a leading logistics service provider in India, offering comprehensive solutions from the point of origin to the point of consumption. Headquartered in Kolkata, the company is expanding its services across Eastern India, integrating material handling, inventory, transportation, warehousing, and often security. This strategic approach ensures that they meet customer needs efficiently and effectively.

The Pranik Logistics IPO is a Book Built Issue amounting to ₹22.47 Crores, consisting entirely of a Fresh Issue of 29.18 Lakh Shares. The subscription period for the Pranik Logistics IPO opens on October 10, 2024, and closes on October 14, 2024. Allotments are expected to be finalized by October 15, 2024, with shares listed on the NSE SME by October 17, 2024.

The share price band for this IPO is set at ₹73 to ₹77 per equity share, with a minimum lot size of 1,600 shares. Retail investors need to invest a minimum of ₹1,23,200, while High-Net-Worth Individuals (HNIs) are required to invest a minimum of ₹2,46,400 for 2 lots (3,200 shares).

Narnolia Financial Services Limited acts as the book-running lead manager, while Maashitla Securities Private Limited serves as the registrar for the issue. Prabhat Financial Services Limited will function as the Market Maker for the Pranik Logistics IPO.

Currently, the Grey Market Premium (GMP) of Pranik Logistics Limited IPO is projected at ₹0, based on the company’s financial performance. It's important to note that no real trading occurs based on the GMP, thus making it unreliable for price discovery before the shares list on the stock exchange. The GMP is purely based on demand and supply dynamics in an unorganized manner and is not recommended for trading decisions. The GMP is provided for educational and informational purposes only.

The IPO has successfully raised ₹6.32 Crore from Anchor Investors at a price of ₹77 per share, in consultation with the Book Running Lead Managers. The company allocated 8,20,800 equity shares to the Anchor Investors, contributing to overall investor confidence in the offering.

To check the allotment status of the Pranik Logistics IPO, investors can follow these steps:

Navigate to the IPO allotment status page.

Select Pranik Logistics Limited IPO from the dropdown list of IPOs.

Enter your application number, PAN, or DP Client ID.

Submit the details to check your allotment status.

The objectives of the Pranik Logistics Limited IPO involve utilizing the issue proceeds from the Fresh Issue for several key purposes:

To invest in technology enhancements.

To cover capital expenditure requirements.

To address working capital needs.

To fulfill general corporate purposes.

To manage issue expenses.

The company is led by a team of experienced promoters, including Mr. Pranav Kumar Sonthalia, Ms. Shradha Kumari, and Ms. Minal Sonthalia. The financial performance of Pranik Logistics shows promising growth:

Revenue for Fiscal 2024 stands at ₹6,770.08 Lakhs, up from ₹6,090.62 Lakhs in Fiscal 2023 and ₹3,360.96 Lakhs in Fiscal 2022.

The EBITDA for the same periods are ₹934.19 Lakhs, ₹345.13 Lakhs, and ₹97.61 Lakhs, respectively.

The Profit After Tax (PAT) figures indicate a positive trajectory, with ₹406.56 Lakhs for Fiscal 2024, compared to ₹93.23 Lakhs in Fiscal 2023 and ₹31.54 Lakhs in Fiscal 2022.

For the Pranik Logistics IPO, the company is issuing shares at a pre-issue EPS of ₹7.54 and a post-issue EPS of ₹3.96. The pre-issue P/E ratio is 10.21x, while the post-issue P/E ratio stands at 20.86x against an industry P/E ratio of 69.39. Additionally, the company's ROCE for FY24 is 54.14%, and RoE is 36.56%, indicating a fair pricing structure for the IPO.

Despite the promising financial indicators, the Grey Market Premium for Pranik Logistics indicates potential listing gains of 0%. Given this and the overall financial performance, the recommendation is to avoid the Pranik Logistics Limited IPO for listing gains or long-term investment purposes.

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