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GConnect Logitech IPO is a fixed price issue of Rs 5.60 crores. The issue is entirely a fresh issue of 14.01 lakh shares.
GConnect Logitech IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for GConnect Logitech IPO was finalized on Monday, April 1, 2024. The shares got listed on BSE SME on April 3, 2024.
GConnect Logitech IPO price is ₹40 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹240,000.
Fedex Securities Pvt Ltd is the book running lead manager of the GConnect Logitech IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for GConnect Logitech IPO is Aftertrade Broking.
Refer to GConnect Logitech IPO RHP for detailed information.
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | April 3, 2024 |
| Face Value | ₹10 per share |
| Price | ₹40 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,401,000 shares (aggregating up to ₹5.60 Cr) |
| Fresh Issue | 1,401,000 shares (aggregating up to ₹5.60 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,318,547 |
| Share holding post issue | 3,719,547 |
| Market Maker portion | 75,000 shares Aftertrade Broking |
GConnect Logitech IPO offers 1,401,000 shares. 663,000 (47.32%) to NII, 663,000 (47.32%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 75,000 (5.35%) |
| Other Shares Offered | 663,000 (47.32%) |
| Retail Shares Offered | 663,000 (47.32%) |
| Total Shares Offered | 1,401,000 (100%) |
GConnect Logitech IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
| Lot Size Calculator | |||
The promoters of the Company are Mr. Jigar Vinodbhai Sheth and Mr. Vinod Venilal Sheth.
| Share Holding Pre Issue | 76.76% |
| Share Holding Post Issue | 47.85% |
Incorporated in July 2022, Gconnect Logitech and Supply Chain Limited provides surface logistics services, including goods transport.
The company's service offerings include bulk loads, Full Truck Loads (FTL) service, and dedicated loads.
The company has an asset-light model and works with third parties to provide necessary assets, such as vehicles.
As of September 30, 2023, the company serves approximately 24 customers, with over 8 customers having been associated with them for more than 4 years.
As of Oct. 30, 2023, the company had partnered with 4 fleet management firms and had 23 vehicles of various sizes to meet customer needs.
As of March 2024, the company has a total of 6 employees in various departments.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 |
| Assets | 423.25 | 82.46 |
| Revenue | 212.57 | 101.03 |
| Profit After Tax | 22.83 | 10.86 |
| Net Worth | 398.15 | 77.51 |
| Reserves and Surplus | 166.29 | 60.10 |
| Amount in ₹ Lakhs | ||
The market capitalization of GConnect Logitech IPO is Rs 14.88 Cr.
KPI as of September 30, 2024.
| KPI | Values |
|---|---|
| ROE | 5.73% |
| ROCE | 7.67% |
| RoNW | 5.73% |
| P/BV | 2.33 |
| PAT Margin (%) | 11.22 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 26.64 | 1.23 |
| P/E (x) | 1.5 |
The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It provides logistic services with third party vehicles, which turns risky and does not give good margins. Based on FY24 annualized earnings, the issue is exorbitantly priced. Small equity base post-IPO indicates longer gestation period. There is no harm in skipping this pricey bet. Read detail review...
The GConnect Logitech IPO is subscribed 57.38 times on March 28, 2024 7:02:09 PM. The public issue subscribed 71.74 times in the retail category, times in the QIB category, and 42.90 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 42.90 |
| Retail | 71.74 |
| Total | 57.38 |
Total Application : 21,562 (97.57 times)
| Listing Date | April 3, 2024 |
| BSE Script Code | 544156 |
| NSE Symbol | |
| ISIN | INE0QHY01011 |
| Final Issue Price | ₹40 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹40.00 |
| ₹42.00 |
| ₹42.00 |
| ₹44.10 |
| ₹44.10 |
GConnect Logitech and Supply Chain Limited
Shop No. 6, Sadguru Complex
Nari Chowkadina
Bhavnagar – 364 001,
Phone: +91 93777 74949
Email: contact@gconnectlogitech.com
Website: https://www.gconnectlogitech.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: Gconnect.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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GConnect Logitech IPO is a SME IPO of 1,401,000 equity shares of the face value of ₹10 aggregating up to ₹5.60 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000 Shares.
The IPO opens on March 26, 2024, and closes on March 28, 2024.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in GConnect Logitech IPO using UPI as a payment gateway. Zerodha customers can apply in GConnect Logitech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in GConnect Logitech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The GConnect Logitech IPO opens on March 26, 2024 and closes on March 28, 2024.
GConnect Logitech IPO lot size is 3000 Shares, and the minimum amount required is ₹120,000.
You can apply in GConnect Logitech IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for GConnect Logitech IPO will be done on Monday, April 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, April 2, 2024. Check the GConnect Logitech IPO allotment status.
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