S J Logistics IPO Day 2: Check Subscription Status, Listing Price, Date, Latest GMP And Other Details Here

The initial public offering (IPO) of S J Logistics which opened for subscription on Tuesday (December 12) received a strong response from investors on day 1 of bidding as the public issue was subscribed over 24 times on the first day.The last day to subscribe to the public issue is December 14. This means that investors can place bids for Rs 48 crore S J Logistics IPO till Thursday. The comany has set the price band of the IPO in the range of Rs 121 to Rs 125.

The Rs 48 crore SJ Logistics IPO is entirely a fresh issue of 3,840,000 equity shares; and there is no component of offer for sale (OFS), according to the company's RHP.

The allotment for the S J Logistics IPO is expected to be finalized on December 15, 2023. S J Logistics IPO will list on NSE SME with a tentative listing date fixed as December 19, 2023.

The company will utilize the net proceeds from the IPO for general corporate purposes, working capital requirements, and debt repayment and/or prepayment, in full or in part. The finalization of the Basis of Allotment for S J Logistics IPO will be done on Friday, December 15, 2023, and the allotted shares will be credited to your demat account by Monday, December 18, 2023. The company's promoter is Rajen Hasmukhlal Shah.

SJ Logistics IPO Share Allotment:

SJ Logistics IPO basis of allotment of shares is likely to be finalized on Friday (December 15) and the company will start refunds on December 18, while the shares will be credited to the demat account of allottees on the same day. SJ Logistics IPO shares are expected to be listed on NSE SME on Tuesday, December 19.

SJ Logistics IPO GMP Today:

According to market observers, as of 09:58 AM on Wednesday, S J Logistics SME IPO last GMP is Rs 125. With a price band of 125.00, S J Logistics SME IPO's estimated listing price is Rs 250 (cap price + today's GMP), up almost 99% compared to the upper price band of the IPO.

S J Logistics IPO Market Lot Size:

Investors can bid for a minimum of 1000 shares and in multiples thereof.

The S J Logistics IPO minimum market lot is 1000 shares. The minimum investment amount for retail investors is Rs 125,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to Rs 250,000.

S J Logistics IPO valuations detail:

According to the IPO Watch website, S J Logistics has an Earning Per Share (EPS) of Rs 8.84 per Equity Share, a Price/Earning P/E Ratio of 14.14, and a Net Asset Value (NAV) of Rs 36.22 per Equity Share.

The company has allotted 50% of the quota for the QIB category, 15% is reserved for the NIIs, and 35% is reserved for Retail investors.

SJ Logistics IPO subscription status

The S J Logistics IPO is subscribed 26.80 times on December 13, 2023 10:13:00 AM (Day 2). The public issue subscribed 40.99 times in the retail category, 4.08 times in the QIB category, and 23.98 times in the NII category, according to data on chittorgarh.com.

SJ Logistics IPO subscription status is 24.56 times on day 1. The issue received a stellar response from retail investors portion subscribed 37.34 times, and non-institutional buyers subscribed 22.06 times. Qualified Institutions Buyers (QIBs) portion was booked 4.08 times.

About S J Logistics India Limited:

S J Logistics India Limited stands as a premier international logistics service provider, encompassing an array of services including freight forwarding, transportation, warehousing, Non-Vessel Operating Common Carrier (NVOCC), and customs clearance.

Established over two decades ago, S J Logistics has entrenched itself nationally, accumulating extensive industry expertise. Our proficiency extends across various sectors, including but not limited to yarns, textiles, transmission towers, tyres, polyfilms, chemicals, agro commodities, and Fast-Moving Consumer Goods (FMCG).

Operating under an asset-light business model, S J Logistics collaborates with a diverse range of partners, ensuring the dependable, efficient, and punctual transfer of freight globally.

The company's profit in FY 22 increased on account of abnormal foreign exchange gains booked during this year. The Net profit of the company has increased from Rs. 86.32 lakhs in FY21 to Rs. 188.37 lakhs in FY22 representing an increase of 118.22%. The foreign exchange gain/loss increased from a loss of Rs. 82.43 lakhs in FY21 to a gain of Rs. 136.00 lakhs in FY22, which resulted in an increase in the profits of the company.

Risks:

The company is heavily dependent on third party service providers and suppliers to effectively carry on our logistics operations. Any deficiency in services provided by them or failure to maintain relationships with them could result in disruption in our operations, which could hurt its business, financial condition, results of operations, and cash flows.