GConnect Logitech and Supply Chain (BSE SME)
Mar 26, 2024 - Mar 28, 2024
| Price | ₹40 - ₹40 |
| Premium | ₹9 |
|---|---|
| Lot size | 3000 |
| Allotment | Apr 1, 2024 |
| Listing | Apr 3, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 3000 | 120000 | 221 |
| HNI | 2 | 6000 | 240000 | 221 |
Last updated on 28 Mar 2024 | 05:54:00 PM
| Category | Offered | Applied | Times |
|---|---|---|---|
| HNIs | 663000 | 28605000 | 43.14 |
| Retail | 663000 | 47562000 | 71.74 |
| Total | 1326000 | 76167000 | 57.44 |
| Total Application : 21,562 | |||
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹2.32 | @8% ₹2.65 | @9% ₹2.98 | @10% ₹3.31 | @11% ₹3.64 | @12% ₹3.97 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 47.32% | 663000 |
| Other | 47.32% | 663000 |
| Market Maker | 5.35% | 75000 |
| Total No. of Shares | 100.0% | 1401000 |
Gconnect Logitech and Supply Chain Limited, incorporated in July 2022, specializes in providing surface logistics services, focusing on goods transport. With an asset-light model, the company collaborates with third-party fleet management firms to ensure efficient transportation solutions for its clients. Offering a range of services including bulk loads, Full Truck Loads (FTL) service, and dedicated loads, Gconnect Logitech and Supply Chain Limited prides itself on its commitment to reliability and customer satisfaction. By leveraging strategic partnerships and a diverse fleet of 23 vehicles of various sizes as of October 2023, the company caters to the unique needs of its clientele. Boasting a loyal customer base of approximately 24 clients, with over 8 having been with the company for more than 4 years as of September 2023, Gconnect Logitech and Supply Chain Limited continues to expand its presence in the logistics industry. With a dedicated team of 6 employees across various departments as of March 2024, the company remains focused on delivering exceptional service and fostering long-term partnerships within the transportation sector.
GConnect Logitech IPO Details
| Issue Size | 1,401,000 shares (aggregating up to ₹5.60 Cr) |
| Fresh Issue | 1,401,000 shares (aggregating up to ₹5.60 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,318,547 |
| Share holding post issue | 3,719,547 |
| Market Maker portion | 75,000 shares Aftertrade Share Broking |
Key Performance Indicator
| KPI | Sep-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 5.73% | 14.01% | 9.25% |
| ROCE | 7.67% | 18.70% | 12.51% |
| RONW | 5.73% | 14.01% | 9.25% |
| EPS (basic & diluted) | 1.35 | 26.64 | - |
| P/BV | 2.33 | ||
| P/E (Pre IPO) | 1.5 |
Company Financials
GConnect Logitech and Supply Chain Limited Financial Information (Restated)
| Period | 30 Sep 2023 | Mar 2023 |
|---|---|---|
| Assets | 423.25 | 82.46 |
| Revenue | 212.57 | 101.03 |
| Profit | 22.83 | 10.86 |
| Net Worth | 398.15 | 77.51 |
| Reserves | 166.29 | 60.10 |
| Amount in ₹ Lakhs | ||
Strength Factors
Longstanding and Diverse Customer Base: Gconnect Logitech and Supply Chain Limited's strength lies in its established relationships with a diverse customer base. With over 8 customers having been associated with the company for more than 4 years as of September 2023, this indicates a high level of customer satisfaction and trust in the company's services.
Existing Supplier Relationships: The company's partnerships with 4 fleet management firms as of October 2023 highlight another strength. These existing supplier relationships ensure access to a reliable and flexible fleet of vehicles to meet customer demands.
Asset-Light Business Model: Gconnect Logitech and Supply Chain Limited's asset-light business model is a significant strength. By relying on third-party assets such as vehicles rather than owning and maintaining its own fleet, the company can minimize capital expenditure and operational costs.
Risk Factors
Limited Operating History and Acquisition Risk: The company's limited operating history, coupled with its specific formation for the acquisition of "Prithvi Enterprises," poses a risk factor for potential investors. The lack of historical performance data as a separate entity may make it challenging for investors to evaluate the company's financial health and future prospects accurately.
Historical and Potential Negative Cash Flows: The company, along with the acquired sole proprietorship, has experienced negative cash flows in certain prior periods, indicating a risk of continued financial instability.
Legal and Regulatory Risks: The involvement of directors and promoters in certain litigation and claims presents legal and regulatory risks for the company. Adverse decisions in these legal proceedings could result in penalties, liabilities, and reputational damage for the directors and promoters, consequently impacting the company's operations and financial status.
GConnect Logitech IPO Lead Manager(s)
- Fedex Securities Pvt Ltd
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: Gconnect.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/