Kaushalya Logistics IPO sets price band at ₹71-75 per share, GMP, issue details, key dates, more

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Kaushalya Logistics IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

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Tentatively, Kaushalya Logistics IPO basis of allotment of shares will be finalised on Thursday, January 4 and the company will initiate refunds on Friday, January 5, while the shares will be credited to the demat account of allottees on the same day. Kaushalya Logistics shares are likely to be listed on NSE SME on Monday, January 8.

According to Kaushalya Logistics Limited’s red herring prospectus (RHP), the company is designed to be an integrated logistics and clearing and forwarding (C&F) services provider. The company currently works in three main verticals, one of which is offering Dalmia Cement Bharat Limited dealers and customers logistical support for handling and dealing in cement.

In the other vertical, which is retail and e-commerce, the company sell electronics and white goods like refrigerators, washing machines, and televisions on a large online e-commerce platform that serves locations all over India and is registered with the Goods and Services Tax (GST) in 17 locations.

The third vertical of the company’s operations is the commercial real estate sector, which they have entered by owning and leasing commercial shops in Udaipur.

The company in its RHP, stated that there are no like to like comparable listed companies in India that are engaged in all aspects of the business that it operate.

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Kaushalya Logistics IPO details

Kaushalya Logistics IPO comprises a fresh issue of 33,80,000 equity shares aggregating up to ₹25.35 crore, and an offer for sale (OFS) of 15,00,000 equity shares totalling up to ₹11.25 crore by promoters, as per red herring prospectus (RHP). Kaushalya Logistics IPO issue size is ₹36.60 crore.

The company plans to use the net proceeds for general corporate purposes, funding the company’s working capital needs, and the repayment of the unsecured loan.

The registrar for the Kaushalya Logistics IPO is Skyline Financial Services Private Ltd, and the book running lead manager is Khandwala Securities Limited. The Nikunj Stock Brokers is the market maker for the Kaushalya Logistics IPO.

Kaushalya Logistics IPO GMP today

Kaushalya Logistics IPO GMP today or or grey market premium is +30. This indicates Kaushalya Logistics share price were trading at a premium of ₹30 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 Kaushalya Logistics share price is ₹105 apiece, which is 40% higher than the IPO price of ₹75.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 26 Dec 2023, 04:22 PM IST