SJ Logistics Fixes IPO Price Band of Rs 121- Rs 125, Issue To Open On 12th Dec

In order to raise Rs 48.00 crores, the company has declared an Initial Public Offer (IPO) in which it would offer 38.4 lakh fresh shares through a 100% book-building issue. 

The S J Logistics initial public offering (IPO) subscription will open on December 12, 2023, and end on December 14, 2023. On Friday, December 15, 2023, the share allotment for the S J Logistics IPO is anticipated to be completed. The proposed listing date for the S J Logistics IPO is Tuesday, December 19, 2023, and it will take place on NSE Emerge

SJ Logistics has fixed its IPO price band at Rs 121 to Rs 125 per share. Retail investors must deposit a minimum of Rs 1.25 lakh since the minimum lot size for an application is 1000 shares. HNIs are required to invest a minimum of two lots, or 2,000 shares, totalling Rs 2.5 lakhs. 

The SJ Logistics IPO’s registrar is Maashitla Securities Private Limited, while the book-running lead manager is Hem Securities Limited. Hem Finlease is the market maker for the S J Logistics IPO, as per the DRHP.

As per the DRHP, SJ Logistics (India) intends to utilize the proceeds of the issue for repayment and/or pre-payment, in full or part, of certain borrowings, to meet working capital requirements and for general corporate purposes. 

According to the DRHP of the book-building issue, 1822000 equity shares or 50% of the net issue are reserved for QIBs (Including Anchor), 1277000 shares or 35% are reserved for the retail investors and 15% of the net issue or 548000 shares will be allocated towards NII (HNI) segment. 

According to the financials, the company’s revenue from operations was  Rs.134.31 Crs. in FY23 & Rs. 103.09 crs. in H1FY24. Company reported net profit of Rs. 7.61 crs. in FY23 & Rs. 9.31 crs. in H1FY24. 

Additionally, SJ Logistics’s RONW stood at 24.41% in FY23 while its ROCE reached 18.50% in FY23. 

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