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Pranik Logistics IPO
Pranik Logistics Ltd
₹1,16,800 /1600 sharesMinimum Investment
Pranik Logistics IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹77.00 | ₹79.00 | ₹2.00 (2.60%) |
Pranik Logistics IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 10 Oct ‘24 - 14 Oct ‘24 | ₹1,16,800 | 1,600 | ₹73 - ₹77 |
| Issue Size | IPO Doc |
|---|---|
| 22.47Cr | RHP PDF |
Subscription rate
As of 10 Oct'24, 06:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.00x |
| Retail Individual Investor | 0.00x |
| Total | 1.74x |
About Pranik Logistics
Founded in
2015
Managing director
Mr. Pranav Kumar Sonthalia
Parent organisation
Pranik Logistics Ltd
Strengths & Financials of Pranik Logistics
Strengths
Risks
The company offers its services in over 13 states of India.
The company’s fleet includes various types of trucks, each designed for specific tasks. Container trucks manage parcel transportation, while platform trucks are dedicated to heavy-duty items such as automotive parts and machinery.
Pranik Logistics directly manages a total of 30 warehouses.
The company’s clientele includes names like Zepto, Zomato, Too Yumm, VIP, Max, and Moglix.
The company holds a licence from the Food Safety and Standards Authority of India (FSSAI).
The company has recorded a consistent rise in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 33.47 crore in FY22 to Rs 60.53 crore in FY23 to Rs 66.84 crore in FY24, while PAT increased from Rs 0.31 crore in FY22 to Rs 0.93 crore in FY23 to Rs 4.06 crore in FY24.
The company and its promoters are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business.
Pranik Logistics' operations rely heavily on the continuous functioning of technology systems. However, the company does not own any technology for its business operations and instead depends on the technology provided by its clients. This dependency means that Pranik Logistics can only offer services to clients who possess the necessary technological infrastructure. Any disruption or failure in these client-provided technological systems can negatively impact the business’s core operations.
A major portion of the company’s revenue is dependent on a few key customers. The top 10 customers contributed Rs 56.79 crore (84.97%), Rs 56.76 crore (92.72%), and Rs 31.51 crore (94.16%) in FY24, FY23, and FY22 to the revenue from operations, respectively. Any loss or reduced demand from these customers can adversely affect the company’s operation and finances.
Five states, namely, West Bengal, Jharkhand, Maharashtra, Bihar, and Orissa, contribute significantly to the company’s revenue generation, especially West Bengal. The states contributed Rs 26.26 crore (39.29%), Rs 22.12 crore (36.55%), and Rs 15.23 crore (45.51%) to the revenue from operations in FY24, FY23, and FY22, respectively. Any adverse developments in the business environment of these states could negatively impact the company’s revenue generation and operations.
Freight and forwarding charges constitute a considerable portion of the company’s expenses. It is imperative for the company to keep these costs under control to remain profitable.
As of June 30, 2024, the company had secured and unsecured loans of Rs 18.81 crore and Rs 0.80 crore, respectively. Any inability to repay or service these loans can adversely affect the company’s finances.
Pranik Logistics Financials
*All values are in Rs. Cr
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Application Details of Pranik Logistics IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹73 - 77 | ₹2 - 5 Lakh |
| High Networth Individual | ₹73 - 77 | ₹2 - 5 Lakh |
For Pranik Logistics IPO, eligible investors can apply as Regular.