GB Logistics IPO opens for subscription. Check GMP, key dates, price band and other details

Synopsis

GB Logistics IPO opens today, aiming to raise Rs 25 crore through a fresh equity sale of 24.57 lakh shares. The price band is set at Rs 95-102 per share. The proceeds will be used for debt repayment, working capital, and corporate purposes. The allotment finalization is expected on January 29, with listing on January 31.

GB Logistics IPO, through which the company is raising around Rs 25 crore, will open for subscription today. The issue, which is completely a fresh equity sale of 24.57 lakh shares, will be available for bidding till January 28.

Net proceeds from the IPO will be used for repayment of debt, working capital requirements and other general corporate purposes.

What is GB Logistics IPO price band

The price band for GB Logistics IPO is fixed at Rs 95-102 apiece, and investors can bid for 1200 shares in one lot. In the public offer, 50% is reserved for QIB investors, 35% for retail investors and the rest 15% for non-institutional investors.

Check GMP of GB Logistics IPO

In the unlisted market, GB Logistics has a GMP of Rs 21, which indicates a premium of 21% over the issue price.

GB Logistics IPO details

GB Logistics Commerce specializes in full truckload freight services for large and medium-sized enterprises. Utilizing both proprietary and third-party transportation services, the company efficiently conducts logistics operations.

The company positions itself as a partner for businesses across sectors, providing comprehensive cargo movement solutions. Additionally, the company has a wholly owned subsidiary, GB Hospitality (India), engaged in a similar line of business.

The Indian full truckload freight services industry plays a pivotal role in the country's logistics landscape, facilitating the
transportation of goods for diverse sectors. Characterized by a competitive landscape with numerous players, the industry is driven
by the growing demand for efficient and reliable cargo movement.

SKI Capital Services is the book running lead manager of the GB Logistics IPO, while Maashitla Securities is the registrar.

When is the allotment and listing date of GB Logistics IPO

GB Logistics is likely to finalise the share allotment process for the IPO on January 29 and the listing date is scheduled for January 31.

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