Schedule of Brace Port Logistics
| Issue open date | 19 Aug 2024 |
| Issue close date | 21 Aug 2024 |
| UPI mandate deadline | 21 Aug 2024 (5 PM) |
| Allotment finalization | 22 Aug 2024 |
| Refund initiation | 23 Aug 2024 |
| Share credit | 23 Aug 2024 |
| Listing date | 26 Aug 2024 |
| Mandate end date | 05 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 21 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 21 Nov 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Brace Port Logistics
Incorporated in 2020, Brace Port Logistics is a service-based logistics company primarily engaged in the business of providing Ocean cargo logistics services to clients operating in the various sectors of the economy like medical supplies, pharmaceuticals, sports goods, perishables, electronics, consumer durables, and automotive, both in India and globally. The company also provides various value-added services like Air Freight, Warehousing facilities, and special cargo services such as handling cargo in foreign countries including customs clearance services.
The company is certified in Quality Management Systems (ISO 9001:2015), Environment Management Systems (ISO 14001:2015), and Occupational Health and Safety Management Systems (ISO 45001:2015). The company is promoted by the flagship company of Skyways Group and has a presence in countries Germany, Vietnam, UAE, Hongkong, and Bangladesh providing logistics solutions.
Financials of Brace Port Logistics
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹24.41 crores |
| Fresh Issue | ₹24.41 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 16.10 (65.95%) |
| General corporate purposes | 6.10 (25%) |
| Others | 2.21 (9.05%) |
Strengths
- Comprehensive Solutions for Transportation Requirements: The company provides end-to-end comprehensive third-party logistics services through transportation and warehousing at competitive rates. Some of the logistic offerings like cross-border freight transportation and other value-added services allow its customers with cross-selling opportunities.
- Technology integrated services: The company’s tracking, operational, and financial processes are streamlined through a specialized software solution known as “Cargo Dash.” This software operates as a Software as a Service (SAAS) based ERP system designed specifically for logistics operations.
Risks
- Dependence on third parties: Being a third-party logistics provider, The company outsources certain services to third parties which may result in delays in delivering the cargo/service on time, which in turn may lead to customer dissatisfaction and loss of further business.
- Higher working capital requirements: The Company requires significant amounts of working capital for the expansion and growth of the business. At present, A major portion of the working capital is utilized towards trade receivables. Any inability to meet the working capital requirements may adversely affect the results of operations.
- Reliance on top clients: The company derives nearly 67% of its revenue from the top 10 customers. Any reduction in business from these customers or any other major clients could negatively impact revenue and profitability.