GConnect Logitech IPO allotment date likely today; GMP, steps to check allotment status online

GConnect Logitech IPO Allotment: The initial public offering (IPO) of logistics services company GConnect Logitech Ltd received strong demand from investors. As the GConnect Logitech IPO subscription period has ended, investors will now watch out for GConnect Logitech IPO allotment status.

The bidding for GConnect Logitech IPO began on March 26 and closed on March 28. The GConnect Logitech IPO allotment date is expected to be today, April 1. GConnect Logitech shares will list on BSE SME with a tentative listing date fixed on April 3, 2024.

Investors can check their GConnect Logitech IPO allotment status online on BSE website or on the portal of IPO registrar. Kfin Technologies is the GConnect Logitech IPO registrar.

Also Read: Vishwas Agri Seeds share price makes a muted debut, stock opens with 1.2% discount at ₹85 apiece on NSE SME

The company will credit the shares into the demat accounts of the investors whose bids have been accepted on Tuesday, April 2. It will initiate the refunds to the unsuccessful bidders on the same day.

To do a GConnect Logitech IPO allotment status check online, investors need to follow the five simple steps given below.

GConnect Logitech IPO allotment status check on IPO registrar website

Step 1: Visit the IPO registrar website on this link - https://kosmic.kfintech.com/ipostatus/

Step 2: Select ‘GConnect Logitech and Supply Chain Limited’ in the dropdown menu.

Step 3: Choose among ‘Application No’, ‘Demat Account’ and ‘PAN’

Step 4: Enter the details as per the option selected.

Step 5: Enter the Captcha and hit ‘Submit’.

Your GConnect Logitech IPO allotment status will be visible on the screen.

Also Read: SRM Contractors IPO: Allotment date likely today. GMP, how to check allotment status online

GConnect Logitech IPO GMP Today

GConnect Logitech IPO GMP today, or grey market premium today, is ₹9 per share, as per stock market observers. This means GConnect Logitech shares are trading higher by ₹9 in the grey market than their issue price of ₹40 per share.

Considering the GMP today and the IPO price, GConnect Logitech IPO listing price is estimated to be at a premium of 22.5% at ₹49 per share on BSE SME.

GConnect Logitech IPO Subscription Status

GConnect Logitech IPO saw strong demand from investors across categories. The IPO has been subscribed 57.38 times in total as it received bids for 7.60 crore equity shares as against 13.26 lakh shares on the offer.

The public issue was subscribed 71.74 times in the retail category and 42.90 times in the Other category.

Also Read: Vruddhi Engineering Works IPO allotment today; latest GMP, 4 steps to check status

GConnect Logitech IPO Details

GConnect Logitech IPO opened for subscription on March 26 and ended on March 28. The IPO allotment is expected to be finalized today, April 1, 2024, and the shares will list on BSE SME on April 3, 2024.

GConnect Logitech IPO is an SME IPO and a fixed price issue of ₹5.60 crore, which is entirely a fresh issue of 14.01 lakh equity shares. GConnect Logitech IPO price band is ₹40 per share. 

Fedex Securities Pvt Ltd is the book-running lead manager of the GConnect Logitech IPO, while Kfin Technologies is the IPO registrar.

The company proposes to utilize the net issue proceeds for the purchase of vehicles; finance the website development and app designing; and for general corporate purposes.

GConnect Logitech and Supply Chain Ltd was incorporated in July 2022 and provides surface logistics services, including goods transport. Its service offerings include bulk loads, Full Truck Loads (FTL) service, and dedicated loads. It has an asset-light model and works with third parties to provide necessary assets, such as vehicles.

Read all IPO news here