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GB Logistics Commerce IPO Listing: Logistics company shared disappointed, list on 20% deficit – GB logistics Commerce IPO Lists with 20 Percent discount on bse Sme on January 31 before Budget

GB Logistics Commerce Listing: The listing of Logistics sector company GB Logistics Commerce Limited on 31 January disappointed IPO investors. The IPO’s upper price band on the share BSE SME was listed at Rs 81.60 with a discount of Rs 102 from Rs 102 to Rs 81.60. Immediately the stock fell by 5 percent and a lower circuit at Rs 77.55.

The company’s public issue of Rs 25.07 crore was opened on January 24 and closed on 28 January. Meanwhile, it was subscribed to 184.64 times. Reserve part for qualified institutional buyers, 25.1 times, reserve for non -institutional investors 543.55 times and reserved share for retail investors filled 121.88 times. Only 24.58 lakh new shares were issued in the issue. Before IPO, GB Logistics Commerce raised Rs 7.14 crore from anchor investors.

How to use IPO money

Prashant N. Lakhani, managing director of GB Logistics Commerce Limited, says that the company uses income received from this IPO for repayment of debt, working capital needs, meeting truck chassis and truck bodies for expenses and for general company needs Will do it

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Financial status of GB Logistics Commerce

The company had a consolidated revenue of Rs 115.62 crore in FY 2024. Meanwhile, net profit was recorded at Rs 4.86 crore. GB logistics revenue was Rs 50.85 crore and net profit of Rs 2.53 crore during the April-September 2024 period. The borrowing was Rs 20.07 crore.

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