Schedule of Pranik Logistics
| Issue open date | 10 Oct 2024 |
| Issue close date | 14 Oct 2024 |
| UPI mandate deadline | 14 Oct 2024 (5 PM) |
| Allotment finalization | 15 Oct 2024 |
| Refund initiation | 16 Oct 2024 |
| Share credit | 16 Oct 2024 |
| Listing date | 17 Oct 2024 |
| Mandate end date | 29 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 14 Nov 2024 |
| Lock-in end date for anchor investors (remaining) | 13 Jan 2025 |
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 Pranik Logistics
Established in 2015, Pranik Logistics is an end-to-end Logistics solutions provider i.e. from the point of origin to the point of consumption. It is a pan India logistics provider, acting as carrying and forwarding agent and providing integrated services including transportation, warehousing, material handling, and freight forwarding to its customers in various industries such as Retail, Customer Durables, Telecom, Manufacturing, Pharma, etc. The company operates a total of 30 warehouse and manages a fleet of more than 80 commercial vehicles.
Financials of Pranik Logistics
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹22.47 crores |
| Fresh Issue | ₹22.47 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 12 (53.40%) |
| Capital expenditure | 2.2 (9.79%) |
| Investment in Technology/ERP | 0.8 (3.56%) |
| General corporate purposes | 5.62 (25%) |
| Other expenses | 1.85 (8.25%) |
Strengths
- The company operates primarily based on an “asset-light” business model which allows flexibility and scalability in operations and high capital efficiency.
- It has obtained a license from FSSAI for facilitating the delivery of perishable goods. It adheres to quality standards as per Industry.
- The company has experienced and qualified management team with nearly decade worth of experience in the logistics industry.
- It enjoys long-standing relationships with its customers. These long-standing relationships are the result of its commitment to quality and timely delivery.
Risks
- The company relies heavily on the expertise and guidance of its directors and key managerial personnel to ensure sustained success. The loss of any of them could have a significant impact on the business.
- It does not own any technology for operating its business and relies on the technology provided by its client.
- The company depends on its top 2 customers for nearly 75% of its revenues. The loss of a major customer or significant reduction in demand from any of its major customers may adversely affect the business.
- The company does not have any single software/technology to manage our day-to-day business activities such as warehouse, inventory, transportation, and operations. Failure to manage its resources could hurt the profitability, cash flow, and liquidity.