GB Logistics share price made a weak debut on BSE SME today. GB Logistics share price today opened at ₹81.60, which is 20% lower than the issue price of ₹102.
The initial public offering (IPO) of GB Logistics Commerce had a subscription period that ran from Friday, January 24, until Tuesday, January 28. With a face value of ₹10, shares in the GB Logistics IPO are priced between ₹95 and ₹102. At least 1,200 of those shares are up for bid, and there are multiples of those shares available. GB Logistics IPO subscription status was 184.64 times on the last day of bidding, as per chittorgarh.com.
GB Logistics Commerce Limited, established in 2019, specialises in logistics services and solutions. The company provides a range of offerings, including qualified drivers and a diverse fleet of vehicles, as well as access to a charter network that ensures flexibility, responsiveness, and high-capacity transportation options.
Focusing on full truckload freight services, GB Logistics caters to both large and medium-sized enterprises by effectively utilising its own transportation resources alongside third-party services to optimise logistics management.
Additionally, GB Logistics operates in two distinct business segments: Logistics and Trading of Agricultural Commodities. This dual approach allows the company to diversify its services and enhance its market presence in both logistics and agricultural sectors.
As per the red herring prospectus (RHP), VRL Logistics Ltd (with a P/E of 56.74), Ritco Logistics Ltd (with a P/E of 30.60), and Orissa Bengal Carrier Ltd (with a P/E of 32.90).
GB Logistics IPO details
The GB Logistics IPO, valued ₹25.07 crore, includes a fresh issuance of 24,57,600 equity shares with a face value of ₹10. There is no "offer for sale" component.
The company aims to utilise the funds being raised for several key objectives. These include the prepayment or repayment of a portion of certain outstanding borrowings, addressing working capital requirements, financing the purchase of truck chassis and truck bodies, as well as supporting general corporate purposes.
SKI Capital Services Limited is serving as the book running lead manager for the GB Logistics IPO. Maashitla Securities Private Limited is designated as the registrar for this issue. Additionally, the market maker for the IPO is Svcm Securities Private Limited.
GB Logistics IPO GMP today
GB Logistics IPO GMP is +16. This indicates GB Logistics share price were trading at a premium of ₹16 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of GB Logistics share price was indicated at ₹118 apiece, which is 15.69% higher than the IPO price of ₹102.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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