The initial public offer (IPO) of GB Logistics Commerce received bids for 95,60,400 shares as against 17,58,000 shares on offer, as per BSE data as of 17:00 hours on 24 January 2025. The issue was subscribed 5.43 times. The issue opened for bidding on 24 January 2025, and it will close on 28 January 2025. The price band of the IPO is fixed at Rs 95 to 102 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on BSE's SME platform. The IPO comprises a fresh issue of 24,57,600 shares. About 1,23,600 equity shares will be reserved for subscription by the market maker. The net issue comprises 23,34,000 equity shares. The issue and the net issue will constitute 29.99% and 28.48%, respectively, of the post-offer paid-up equity share capital of the company. The company intends to utilize the net proceeds for prepayment or repayment of a portion of certain outstanding borrowings availed by the company, working capital requirements, fund expenditures towards the purchase of truck chassis and truck bodies, and for general corporate purposes. Ahead of the IPO, GB Logistics Commerce on Friday, 23 January 2025, raised Rs 71.39 lakh from anchor investors. The board allotted 6.99 lakh shares at Rs 102 per share to 5 anchor investors. GB Logistics Commerce is a company engaged in the logistics business, offering a range of services that include qualified drivers, a fleet of vehicles, and a charter network designed to provide flexibility, responsiveness, and high-capacity transportation solutions. The company operates in two key segments: logistics and trading in agricultural commodities. In the logistics segment, GB Logistics Commerce offers Full Truck Load (FTL) services, specialized handling, door-to-door transportation, deliveries to upper floors, and expertise in delivering to remote and hard-to-reach areas, including out-of-delivery area shipments. In the agricultural commodities segment, the company takes advantage of incidental trading opportunities, helping to generate additional revenue streams. The company had 39 full-time employees. The company recorded revenue from operations of Rs 50.83 crore and net profit of Rs 2.52 crore for the period as on 30 September 2024. Powered by Capital Market - Live News |