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17 November 2023

Oneclick Logistics India IPO: Navigating the Financial Horizon

Introduction:

Oneclick Logistics India IPO, a fixed price offering of Rs 9.91 crores, signifies an entirely fresh issue of 10.01 lakh shares. The bidding window opened on September 27, 2023, concluding on October 3, 2023. Post-allotment on October 6, 2023, the shares found their listing on NSE SME on October 11, 2023.

Key Financials:

Priced at ₹99 per share, the IPO mandated a minimum lot size of 1200 shares, requiring retail investors to commit a minimum of ₹118,800. High Net Worth Individuals (HNIs) were expected to invest a minimum of ₹237,600 for 2 lots (2,400 shares).

Market Performance:

As of November 17, 2023, Oneclick Logistics India Ltd (OLIL) stock was valued at ₹80.25, showcasing a growth of 4.97%. The stock opened at ₹80.25, with a high of ₹80.25 and a low of ₹78.10. The previous close was ₹76.45, with a total traded value of 45,600. The 52-week high and low stood at ₹80.25 and ₹78.10, respectively.

IPO Details:

The IPO featured a total issue size of 1,000,800 shares, aggregating up to ₹9.91 crores. The face value per share was ₹10, and the listing transpired on NSE SME.

Ownership Dynamics:

Pre-IPO, Oneclick Logistics had a shareholding of 2,603,000, increasing to 3,603,800 post-issue. The market maker's portion included 52,800 shares, managed by Ss Corporate Securities.

IPO Reservation:

The IPO distribution allocated 5.28% to the market maker, 47.36% each to Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs).

Subscription Highlights:

As of October 3, 2023, the Oneclick Logistics India IPO recorded a staggering subscription of 185.21 times. Retail investors oversubscribed by 224.19 times, while NIIs subscribed by 139.45 times. The total number of applications reached 88,554.

Financial Highlights:

As of March 31, 2022, Oneclick Logistics reported total assets of ₹997.97 lakhs, revenue of ₹3,520.95 lakhs, and a net profit of ₹129.69 lakhs. The net worth was ₹265.85 lakhs, with reserves and surplus at ₹157.22 lakhs.

Key Metrics:

The market cap of Oneclick Logistics India IPO was ₹35.68 crores, featuring a P/E (x) of 0.51. The post P/E was at 24.3, and the company demonstrated an Earnings per Share (EPS) of ₹4.08 and a Return on Net Worth (RoNW) of 95.09%.

IPO's Objectives:

The net proceeds from the IPO are designated for meeting incremental working capital requirements and general corporate purposes.

Expert Analysis:

Oneclick Logistics, operating in integrated logistics services, has posted an average performance as a partnership firm. The exorbitant pricing based on annualized FY23 earnings and a small post-IPO equity base suggest a high-risk, no-return offer.

Conclusion:

Oneclick Logistics India IPO has garnered substantial attention with its robust subscription numbers. However, investor caution is advised due to concerns raised by financial analysts, including the exorbitant pricing and longer duration for migration to the mainboard. It is crucial for investors to thoroughly assess the risk factors and conduct due diligence before making investment decisions. Always seek professional advice if needed.

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