Today, the share price of GB Logistics debuted weakly on the BSE SME. GB Logistics’ share price opened at ₹81.60, 20% lower than its issue price of ₹102.
GB Logistics Commerce’s initial public offering (IPO) was open for subscriptions from Friday, January 24, to Tuesday, January 28. GB Logistics IPO shares have a face value of ₹10 and are priced between ₹95 and ₹102. At least 1,200 shares are up for bid, with further shares available. According to chittorgarh.com, the GB Logistics IPO subscription status increased by 184.64 times on the last day of bidding.
GB Logistics Commerce Limited, founded in 2019, focuses on logistics services and solutions. The firm offers various services, including trained drivers, a vast fleet of cars, and access to a charter network that guarantees flexibility, responsiveness, and high-capacity transportation. GB Logistics specializes in complete truckload freight services. It serves big and medium-sized businesses by leveraging its transportation capabilities and third-party services to optimize logistics management.
Additionally, GB Logistics works in two independent business segments: logistics and agricultural commodity trading. This dual strategy enables the firm to expand its services and strengthen its market position in the logistics and agriculture sectors.
GB Logistics IPO information:
The GB Logistics IPO for ₹25.07 crore involves a new issuance of 24,57,600 equity shares with a face value of ₹10. There is no “offer for sale” feature. The firm intends to use the monies obtained for several crucial purposes. These include prepayment or repayment of a part of some existing borrowings, meeting working capital needs, funding the acquisition of truck chassis and truck bodies, and providing general business assistance. SKI Capital Services Limited is the book-running lead manager for the GB Logistics IPO. Maashitla Securities Private Limited has been selected as the registrant for this offering. In addition, Svcm Securities Private Limited is the IPO’s market maker.
