Kaushalya Logistics, a logistics and clearing & forwarding services provider, witnessed a meteoric rise in investor interest, with its SME IPO receiving a staggering 390.88 times subscription. The highly anticipated finalization of share allotment is set for the late evening of today, Thursday, January 4th, 2024.

The offer, open between December 29th and January 2nd, saw bids pour in for 1,290.99 million shares against the mere 330.28 million shares on offer. Notably, the non-institutional investor category subscribed at a remarkable 847.88 times, while the retail individual investor (RII) portion witnessed a healthy 375.44 times subscription. Even the qualified institutional buyer (QIB) category saw decent demand, subscribing 92.62 times.

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“The overwhelming response to Kaushalya Logistics’ IPO speaks volumes about the company’s strong fundamentals and growth potential,” remarked a senior analyst at a leading investment bank, preferring anonymity. “With the logistics sector booming, investors are eager to tap into this promising space.”

Kaushalya Logistics IPO: How To Check Allotment Status

Once finalized, the IPO status can be checked by following these steps:

Step 1: Visit Skyline Financial Services Private’s portal

Step 2: Select company ‘Kaushalya Logistics Ltd’

Step 3: Enter your application number and hit ‘submit’

The price band for the issue was set at Rs. 71-75 per share, with a minimum lot size of 1,600 shares. This translates to a minimum investment of Rs. 120,000 for retail investors and Rs. 240,000 for HNIs (high net worth individuals) who must subscribe for a minimum of two lots (3,200 shares).

Khandwala Securities Limited served as the book running lead manager for the IPO, while Skyline Financial Services Private Ltd. acted as the registrar. Nikunj Stock Brokers assumed the role of market maker.

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The official listing of Kaushalya Logistics shares is slated for Monday, January 8th, on the NSE SME platform. Market watchers anticipate a strong debut given the exceptional pre-listing demand and bullish sentiment surrounding the logistics sector.

Kaushalya Logistics’ story serves as a testament to the burgeoning appetite for promising IPOs amidst India’s vibrant SME market. The company’s successful capital raise paves the way for further growth and expansion, fuelling further optimism within the logistics landscape.

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