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Business News/ Markets / Ipo/  GConnect Logitech IPO to open for bidding on March 26: Check key dates, IPO price, other details
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GConnect Logitech IPO to open for bidding on March 26: Check key dates, IPO price, other details

GConnect Logitech IPO is a fixed price issue of ₹5.60 crore. The issue is entirely a fresh issue of 14.01 lakh shares.

GConnect Logitech IPO opens for subscription on March 26, 2024 (https://www.gconnectlogitech.com/)Premium
GConnect Logitech IPO opens for subscription on March 26, 2024 (https://www.gconnectlogitech.com/)

GConnect Logitech IPO: The initial public offering (IPO) of small and medium-sized enterprises (SME) GConnect Logitech will open for subscription on March 26, 2024. The SME IPO is a fixed price issue of 5.60 crore. The issue is entirely a fresh issue of 14.01 lakh shares.

The SME IPO will close on March 28, 2024. The allotment for the GConnect Logitech IPO is expected to be finalized on April 1, 2024 and the tentative listing date for the shares is fixed as Wednesday, April 3, 2024.

Also Read: SRM Contractors IPO opens next week. GMP, review, other details about upcoming IPO

GConnect Logitech IPO Details:

At the upper end of the price band, the SME is aiming to raise 5.6 crore through the public issue, with shares set to be listed on the BSE SME platform. GConnect Logitech IPO price is 40 per share at the face value of 10. The minimum lot size for an application is 3,000 shares.

The minimum amount of investment required by retail investors is 120,000. The minimum lot size investment for HNI is two lots (6,000 shares) amounting to 240,000. The company has reserved around 50 per cent of the shares for retail investors and the remaining 50 per cent for other investors.

Fedex Securities Pvt Ltd is the book running lead manager of the GConnect Logitech IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for GConnect Logitech IPO is Aftertrade Share Broking. The promoters of the Company are Jigar Vinodbhai Sheth and Vinod Venilal Sheth.

The company proposes to utilize the net proceeds from the issue towards the following objects:

-Purchase of vehicles and body building;

-Finance the website development and app designing

-General corporate purposes.

Also Read: Vishwas Agri Seeds IPO: Check latest GMP, subscription status on day 2, other details

Gconnect Logitech Company Details:

Gconnect Logitech and Supply Chain Limited provides surface logistics services, including goods transport. The company's service offerings include bulk loads, Full Truck Loads (FTL) service, and dedicated loads.

Gconnect Logitech has an asset-light model and works with third parties to provide necessary assets, such as vehicles. As of September 30, 2023, the company serves approximately 24 customers, with over eight customers having been associated with them for more than four years.

As of October 30, 2023, the company had partnered with four fleet management firms and had 23 vehicles of various sizes to meet customer needs. As of March 2024, the company has a total of six employees in various departments.

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ABOUT THE AUTHOR
Nikita Prasad
Nikita covers business news and has been producing news on digital platforms since 2018. She writes on economy, policy, markets, commodities, industry. Her core areas of interests include infrastructure, energy, oil and gas, railways, and transport/mobility. She has worked for business news channels like Moneycontrol, NDTV Profit, and Financial Express in the past. If you have story ideas/pitches/reports or quotes/views to share, reach her at nikita.prasad@htdigital.in.
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Published: 23 Mar 2024, 08:54 PM IST
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