GB Logistics Sets SME IPO Price Band at ₹95-102 Per Share
SME IPO Details
GB Logistics Commerce Ltd has announced the price band for its upcoming initial public offering (IPO) at ₹95-102 per equity share. The ₹25.07 crore IPO will open on January 24 and conclude on January 28. The company’s shares will be listed on the BSE SME platform, according to a statement released by the company on Tuesday.
IPO Structure and Size
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The public issue is entirely a fresh issue of up to 24.57 lakh equity shares at a face value of ₹10 each. At the upper end of the price band, the company aims to raise up to ₹25.07 crore from the IPO.
Utilization of Proceeds
The net proceeds from the issue will be used for several purposes, including: repayment of debt, meeting working capital requirements, expenditure towards the purchase of truck chassis and truck bodies, and for general corporate purposes. Prashant N Lakhani, Managing Director of GB Logistics Commerce Ltd, said that this IPO will support plans to expand operations, increase market presence, and reinforce the company’s corporate identity.
About GB Logistics Commerce
GB Logistics Commerce operates in the logistics sector, providing a wide range of solutions such as regular full-truckload transportation, special handling, multi-level deliveries, and out-of-delivery-area shipments. In FY24, the company reported a consolidated revenue of ₹115.62 crore and a profit after tax of ₹4.86 crore. SKI Capital Services is the sole book-running lead manager, and Maashitla Securities Pvt Ltd is the registrar to the public issue.
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