GConnect Logitech IPO opens for bidding on March 26: Check key dates, IPO price and other details

GConnect Logitech IPO: GConnect Logitech's initial public offering (IPO) for small and medium-sized enterprises (SMBs) will open for subscription on March 26, 2024. The SME IPO is a fixed price issue of ₹5.60 crore. The issue is entirely a fresh issue of 14.01 lakh shares.

The SME IPO will be completed on March 28, 2024. The allotment for GConnect Logitech's IPO is expected to be completed on April 1, 2024 and the tentative listing date for the shares is set for Wednesday, April 3, 2024.

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GConnect Logitech IPO details:

At the upper end of the price range, the medium-sized company is aiming for an increase ₹5.6 crore through the public issue, with the shares to be listed on the BSE SME platform. GConnect Logitech IPO price is ₹40 per share at par value of ₹10. The minimum lot size for registration is 3,000 shares.

The minimum investment amount required by private investors is ₹120,000. The minimum investment size for HNI is two lots (6,000 shares) worth ₹240,000. The company has reserved around 50 percent of the shares for private investors and the remaining 50 percent for other investors.

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's IPO is Aftertrade Share Broking. The promoters of the company are Jigar Vinodbhai Sheth and Vinod Venilal Sheth.

The Company intends to use the net proceeds from the issue for the following purposes:

-purchase of vehicles and bodywork;

-Fund website development and app design

-General corporate purposes.

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Gconnect Logitech Company Details:

Gconnect Logitech and Supply Chain Limited provides surface logistics services including transportation of goods. The company's service offerings include bulk loads, full truck loads (FTL) service and special loads.

Gconnect Logitech 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 around 24 customers, with over eight customers having been associated with them for more than four years.

As of October 30, 2023, the company had partnerships with four fleet management companies and had 23 vehicles of varying sizes to meet customer needs. As of March 2024, the company employs a total of six employees in various departments.

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