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20 Nov 2024
GConnect Logitech IPO
GConnect Logitech and Supply Chain Limited has announced its Initial Public Offering (IPO) with a fixed price issue aimed at raising Rs 5.60 crores. This IPO represents an entirely fresh issue of 14.01 lakh shares, marking an essential phase in the company's growth strategy. The following detailed tables organize all the critical information about the GConnect Logitech IPO for clarity.
IPO Details:
| Detail | Description |
|---|---|
| IPO Open Date | March 26, 2024 |
| IPO Close Date | March 28, 2024 |
| Listing Date | April 3, 2024 (Tentative) |
| Issue Type | Fixed Price Issue IPO |
| Price Per Share | ₹40 |
| Lot Size | 3000 Shares |
| Issue Size | 1,401,000 shares (Aggregating up to ₹5.60 Cr) |
| Issue Listing | BSE SME |
| Book Running Lead Manager | Fedex Securities Pvt Ltd |
| Registrar | Kfin Technologies Limited |
| Market Maker | Aftertrade Share Broking |
IPO Subscription Details
| Category | Shares Offered | Percentage of Net Issue |
|---|---|---|
| Retail | 50% of the Net Issue | - |
| Other | 50% of the Net Issue | - |
IPO Timeline (Tentative Schedule)
| Event | Date |
|---|---|
| IPO Open Date | March 26, 2024 |
| IPO Close Date | March 28, 2024 |
| Basis of Allotment | April 1, 2024 |
| Initiation of Refunds | April 2, 2024 |
| Credit of Shares to Demat | April 2, 2024 |
| Listing Date | April 3, 2024 |
IPO Lot Size and Investment
| Investor Type | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6000 | ₹240,000 |
Company Overview
GConnect Logitech and Supply Chain Limited, established in July 2022, specializes in providing surface logistics services, focusing on goods transport including bulk loads, FTL service, and dedicated loads. The company operates on an asset-light model, partnering with third parties for necessary assets such as vehicles.
Financial Performance Snapshot
| Period Ending | Assets (₹ Lakhs) | Revenue (₹ Lakhs) | PAT (₹ Lakhs) |
|---|---|---|---|
| Sep 30, 2023 | 423.25 | 212.57 | 22.83 |
| Mar 31, 2023 | 82.46 | 101.03 | 10.86 |
Key Performance Indicators
| KPI | Value |
|---|---|
| Market Capitalization | Rs 14.88 Cr |
| ROE | 5.73% |
| ROCE | 7.67% |
| RoNW | 5.73% |
| P/BV | 2.33 |
| PAT Margin (%) | 11.22% |
Objectives of the Issue
The proceeds from the IPO are intended for
- 1. Purchase of Vehicles and Body Building.
- 2. Finance the Website Development and App Designing.
- 3. General Corporate Purpose.
GConnect Logitech IPO Review
Analyst Dilip Davda advises caution with the GConnect Logitech IPO, highlighting its operation in a highly competitive and fragmented logistic segment. The reliance on third-party vehicles and the exorbitantly priced issue based on FY24 annualized earnings are points of concern. Potential investors may consider skipping this IPO due to its pricing and the business model's inherent risks.
This comprehensive overview encapsulates essential details about the GConnect Logitech IPO, offering potential investors a structured insight into the company's financial trajectory, market prospects, and strategic use of the funds raised through the IPO.
FAQs for GConnect Logitech IPO
-
What is the GConnect Logitech IPO?
GConnect Logitech IPO is a fixed price issue aimed at raising Rs 5.60 crores through a fresh issue of 14.01 lakh shares at a price of ₹40 per share.
-
When does the GConnect Logitech IPO open and close?
The IPO opens on March 26, 2024, and closes on March 28, 2024.
-
What is the listing date for GConnect Logitech IPO?
The tentative listing date is April 3, 2024, on the BSE SME platform.
-
What is the price per share for the GConnect Logitech IPO?
The price per share for the IPO is set at ₹40.
-
What is the minimum lot size for the IPO?
The minimum lot size for the IPO is 3000 shares.
-
How much is the minimum investment required?
The minimum investment required for retail investors is ₹120,000. For HNI investors, the minimum investment is ₹240,000 for 2 lots (6,000 shares).
-
Who is the book running lead manager for the IPO?
Fedex Securities Pvt Ltd is the book running lead manager for the IPO.
-
Who is the registrar for the IPO?
Kfin Technologies Limited is the registrar for the IPO.
-
Who is the market maker for the IPO?
Aftertrade Share Broking is the market maker for the IPO
-
What are the main services of GConnect Logitech and Supply Chain Limited?
GConnect Logitech and Supply Chain Limited provides surface logistics services, including goods transport, bulk loads, Full Truck Loads (FTL) service, and dedicated loads.
-
What will the IPO proceeds be used for?
The IPO proceeds will be used for the purchase of vehicles and body building, financing website development and app designing, and general corporate purposes.
-
Where is GConnect Logitech and Supply Chain Limited located?
The company's operations are based in India, but specific location details are provided in their Red Herring Prospectus (RHP).
-
What is the financial performance of GConnect Logitech and Supply Chain Limited?
As of September 30, 2023, the company reported revenue of 212.57 lakhs and a profit after tax (PAT) of 22.83 lakhs for the period ended on that date
-
Is the GConnect Logitech IPO worth investing in?
According to analyst Dilip Davda, the IPO is operating in a competitive segment with a reliance on third-party vehicles, and the issue is considered exorbitantly priced based on FY24 annualized earnings. Potential investors may need to evaluate the risks and consider their investment strategy carefully.
Read More IPO related blogs
Enser Communications IPO
-
What is the GConnect Logitech IPO?
GConnect Logitech IPO is a fixed price issue aimed at raising Rs 5.60 crores through a fresh issue of 14.01 lakh shares at a price of ₹40 per share.
-
When does the GConnect Logitech IPO open and close?
The IPO opens on March 26, 2024, and closes on March 28, 2024.
-
What is the listing date for GConnect Logitech IPO?
The tentative listing date is April 3, 2024, on the BSE SME platform.
-
What is the price per share for the GConnect Logitech IPO?
The price per share for the IPO is set at ₹40.
-
What is the minimum lot size for the IPO?
The minimum lot size for the IPO is 3000 shares.
-
How much is the minimum investment required?
The minimum investment required for retail investors is ₹120,000. For HNI investors, the minimum investment is ₹240,000 for 2 lots (6,000 shares).
-
Who is the book running lead manager for the IPO?
Fedex Securities Pvt Ltd is the book running lead manager for the IPO.
-
Who is the registrar for the IPO?
Kfin Technologies Limited is the registrar for the IPO.
-
Who is the market maker for the IPO?
Aftertrade Share Broking is the market maker for the IPO
-
What are the main services of GConnect Logitech and Supply Chain Limited?
GConnect Logitech and Supply Chain Limited provides surface logistics services, including goods transport, bulk loads, Full Truck Loads (FTL) service, and dedicated loads.
-
What will the IPO proceeds be used for?
The IPO proceeds will be used for the purchase of vehicles and body building, financing website development and app designing, and general corporate purposes.
-
Where is GConnect Logitech and Supply Chain Limited located?
The company's operations are based in India, but specific location details are provided in their Red Herring Prospectus (RHP).
What is the financial performance of GConnect Logitech and Supply Chain Limited?
As of September 30, 2023, the company reported revenue of 212.57 lakhs and a profit after tax (PAT) of 22.83 lakhs for the period ended on that date
Is the GConnect Logitech IPO worth investing in?
According to analyst Dilip Davda, the IPO is operating in a competitive segment with a reliance on third-party vehicles, and the issue is considered exorbitantly priced based on FY24 annualized earnings. Potential investors may need to evaluate the risks and consider their investment strategy carefully.
Read More IPO related blogs Enser Communications IPO
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