Gconnect Logitech and Supply Chain Lists at 5% Premium at Rs 42 per share on BSE

Gconnect Logitech and Supply Chain Limited provide surface logistics services, including goods transport debuted on the Indian stock market today.

The stock of Gconnect Logitech and Supply Chain Limited opened at Rs 42 per share on the BSE, indicating a 5% premium over the final issue price of Rs 40 per share. The market capitalisation on the BSE stands at Rs 15.62 crore.

IPO Proceeds

The company aims to use the Net Proceeds from the Fresh Issue Purchase of Vehicles and Body Building; Finance the Website Development and App Designing; and General Corporate Purpose.

Business Overview

Incorporated in July 2022, Gconnect Logitech and Supply Chain Limited provides surface logistics services, including goods transport. The company’s service offerings include bulk loads, Full Truck Loads (FTL) service, and dedicated loads. Operating with an asset-light model, the company collaborates with third parties to procure necessary assets, such as vehicles. As of September 30, 2023, the company serves approximately 24 customers, with over 8 customers having been associated with them for more than 4 years.

Subscription details

On March 28, 2024, the final day of the IPO window, the IPO witnessed an impressive response, with a subscription rate of 57.38 times. The public issue received remarkable interest, with the retail category being subscribed 71.74 times, while the NII category reached a subscription rate of 42.90 times.

The IPO price was Rs 40, with a face value of Rs 10 per share and a lot size of 3000 shares. The total size of the company’s IPO was Rs 5.60 crore, and the final share issue price was fixed at Rs 40 each.

Conclusion

The crucial question that arises in everyone’s mind is whether to hold onto the shares or book profits. Investors who applied for listing gains only have already earned 5% on the listing day itself and can choose to book the profit it has generated. On the other hand, investors with a higher risk appetite may opt to hold the shares for the medium to long term, which could prove to be beneficial.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.