GB Logistics sets SME IPO price band at Rs 95-102 per share, issue to open on Jan 24

GB Logistics Commerce Ltd on Tuesday said it has fixed the price band of Rs 95-102 per equity share for Rs 25.07 crore initial public offer, which will hit the markets on January 24.

The initial public offering (IPO) will conclude on January 28 and shares of the firm will be listed on the BSE SME platform, the company said in a statement.

Investors can bid for a minimum of 1,200 shares and in multiples thereof.

The public issue is entirely a fresh issue of up to 24.57 lakh equity shares at a face value of Rs 10 each.

At the upper end of the price band, the company will mobilise up to Rs 25.07 crore from the IPO.

The net proceeds from the issue will be utilised for repayment of debt, working capital requirements, expenditure towards the purchase of truck chassis & truck bodies, and general corporate purposes.

"This IPO represents an important step forward in our journey and highlights the progress we have made in the logistics. It will support our plans to expand operations, increase market presence, and reinforce our corporate identity," Prashant N Lakhani, Managing Director of GB Logistics Commerce Ltd, said.

GB Logistics Commerce operates in logistics sector, offering a wide range of logistics solutions, including regular full-truckload transportation, special handling, multi-level deliveries, and out-of-delivery-area shipments.

The company reported a consolidated revenue of Rs 115.62 crore, and profit after tax of Rs 4.86 crore in FY24.

The SKI Capital Services is the sole book-running lead manager and Maashitla Securities Pvt Ltd is the registrar to the public issue.