The SME IPO of Brace Port Logistics opened for subscription on Monday, August 19 and will close on August 21. The company aims to raise about Rs 24 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
1) Brace Port Logistics IPO size
The IPO is entirely a fresh equity issue of 30.5 lakh shares and through the issue, the company plans to raise Rs 24 crore.
2) Brace Port Logistics IPO price band
The company is offering its shares at Rs 76-80 apiece, and investors can bid for 1600 shares in 1 lot.
3) Brace Port Logistics GMP
In the unlisted market, the company’s shares are trading with a GMP of Rs 90, which translates to a premium of 112% over the issue price.
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4) About Brace Port Logistics
The company is a service-based logistics company primarily engaged in the business of providing Ocean cargo logistics services to our clients operating in the various sectors of the economy. It also provides various value-added services like Air Freight, Warehousing facilities, special cargo services and custom clearance services.
5) Industry overview
The logistics industry is essential for the economy of a country. It pertains to the general method of controlling how resources are obtained, housed and delivered to their ultimate location. It is a differentiating sector that can largely affect any country’s exports, thereby adding a significant competitive edge, with the underlying assumption of a robust logistics sector
6) Brace Port Logistics financial performance
For the year ended March 2024, the company clocked total revenues of Rs 55 crore and net profit of Rs 4.9 crore.
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7) Objects of the offer
The net proceeds from the public offer will be used for funding working capital requirements and general corporate purposes.
8) Lead managers and Registrar
Holani Consultants is acting as the lead manager to the issue and Link Intime India is the registrar.
9) Issue structure
About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.
10) Important dates
The IPO opened on August 19 and will close on August 21. The final allotment will likely be made on August 22. The company’s shares will likely get listed on August 26.
