GB Logistics Commerce Ltd Gears Up for IPO on BSE SME

GB Logistics Commerce Ltd has announced an IPO with a price band of Rs 95-102 per share, aiming to raise Rs 25.07 crore. The IPO will open on January 24 and close on January 28. Proceeds will be used to repay debt, purchase new trucks, and expand market presence.

GB Logistics Commerce Ltd has set a price range of Rs 95-102 per equity share for its Rs 25.07 crore initial public offering, scheduled to hit the market on January 24, the company revealed on Tuesday.

The IPO will close on January 28, with shares planned to list on the BSE SME platform. Interested investors can bid for a minimum of 1,200 shares. The entire public issue comprises a fresh issuance of up to 24.57 lakh equity shares, each having a face value of Rs 10.

The fund raised at the upper price band will be channeled towards debt repayment, working capital needs, acquiring truck chassis and bodies, and other corporate expenses. According to Managing Director Prashant N Lakhani, this move marks significant progress for the firm in the logistics sector, allowing it to expand operations and solidify its market position.

(With inputs from agencies.)