Kaushalya Logistics IPO: Check subscription on final day, GMP, allotment date and other details

The SME IPO of Kaushalya Logistics was subscribed 237 times so far on the final day of the bidding process. The issue opened on December 29 and will close today.

The strong response was led by NII investors, whose category was subscribed the most at 400 times, followed by NIIs at 297 times and QIBs at 33 times.

About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors, and remaining 15% for non-institutional investors.

Kaushalya Logistics GMP

The company’s shares are trading with a premium of Rs 55 in the unlisted market, according to analysts. The final allotment will likely be made on January 4. The company’s shares will likely get listed on January 8.

Kaushalya Logistics IPO issue size

The IPO comprises a fresh equity issue of up to 38.8 lakh equity shares and an offer for sale (OFS) of 15 lakh shares. Through the issue, the company plans to raise Rs 36.6 crore.

Kaushalya Logistics IPO price band

The company is offering its shares at Rs 71-75 apiece, and investors can bid for 1,600 shares in one lot.
The net proceeds from the public offer will be used for repayment of unsecured loans, working capital, and other general corporate purposes.

Kaushalya Logistics is in the business of providing clearing and forwarding services to one of the leading cement companies in India and is also engaged in the selling of electronic and white goods products on online e-commerce platforms. It has also ventured into the business of renting commercial properties during FY23.

The logistics sector in India is valued at $250 billion in 2021 and it is expected to increase $380 billion by 2025. The overall e-commerce market is also expected to reach $350 billion by 2030 and will experience 21.5% growth.