Neptune Logitek Sets Course for Expansion with Upcoming IPO

Neptune Logitek Limited is launching an Initial Public Offering on December 15 to raise Rs. 46.62 crore, closing on December 17. The IPO will support fleet expansion, debt repayment, and operational needs. Shares are priced at Rs. 126 each. Galactico Corporate Services Limited is the lead manager.

Neptune Logitek Limited, a prominent logistics solutions provider based in Gandhidham, Gujarat, is gearing up for its Initial Public Offering (IPO) scheduled to open on December 15. The company aims to raise Rs. 46.62 crore with this public issue, which will close on December 17.

The proceeds from the IPO are earmarked for expanding the company's fleet, repaying existing debt, and fulfilling related operational needs. The offering includes 37,00,000 equity shares, each valued at an issue price of Rs. 126. Retail investors must invest a minimum of Rs. 2,52,000, while High Net-worth Individuals (HNIs) must invest at least Rs. 3,78,000.

A significant milestone for Neptune Logitek, the public issue will fuel the expansion of its service offerings and enhance its capability to provide reliable logistics solutions. Galactico Corporate Services Limited is the lead manager, with Bigshare Services Private Limited as the registrar. Shares will be listed on the BSE SME platform by December 22.

(With inputs from agencies.)