Kaushalya Logistics IPO: Issue Booked 387.28 Times, Retail Portion 368.31 Times on Final Day

Kaushalya Logistics IPO opened for subscription on December 29, 2023. The issue will close on January 3, 2023.

The company set a price band ranging from Rs 71 to Rs 75 per share. The IPO lot size comprises 1,600 shares, and investors can bid for a minimum of 1,600 shares or multiples thereof.

The IPO includes a fresh issue of 33,80,000 equity shares, amounting to Rs 25.35 crore. Additionally, there’s an offer for sale (OFS) of 15,00,000 equity shares valued at Rs 11.25 crore by the promoters, as indicated in the red herring prospectus (RHP).

On the final day, the IPO saw a subscription of 387.28 times. Retail investors subscribed 368.31 times their portion, while non-institutional buyers subscribed at an astonishing rate of 847.45 times, according to sources. The qualified institutional buyers (QIB) portion was subscribed 92.62 times.

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The company has received bids for 127.9 crore shares against 33.02 shares on offer.

About the Company

Kaushalya Logistics operates as an integrated provider of logistics and clearing and forwarding (C&F) services.
Among its three primary verticals, one involves providing logistical support to Dalmia Cement Bharat Limited dealers and customers for handling and facilitating cement transactions.

Additionally, the company engages in retailing electronics and white goods such as refrigerators, washing machines, and televisions through a prominent online e-commerce platform. Its third operational vertical involves venturing into the commercial real estate sector. This is accomplished by owning and leasing commercial shops situated in Udaipur.

Company Financials

Issue Size

The Kaushalya Logistics IPO consists of a fresh issue of 33,80,000 equity shares, totaling Rs 25.35 crore. Additionally, there’s an offer for sale (OFS) of 15,00,000 equity shares, amounting to Rs 11.25 crore by the promoters, as stated in the red herring prospectus (RHP). Overall, the issue size of the Kaushalya Logistics IPO stands at Rs 36.60 crore.

IPO Reserve Portion

• Qualified Institutional Buyers (QIB): Not more than 50 percent
• Non-Institutional Investors (NII): Not less than 15 percent
• Retail Investors: Not less than 35 percent

Objectives of the Issue

The company intends to utilize the net proceeds for general corporate purposes, funding its working capital needs, and repaying the unsecured loan. This offering will enable the utilization of raised capital to address working capital requirements and repay unsecured loans.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.