Last updated on August 22, 2024
Braceport Logistics IPO subscription started on 19 August 2024 and will close on 21 August 2024. Braceport Logistics plans to raise INR 24.41 crores via the IPO. The price band is fixed at INR 76 – 80 per share. The Braceport Logistics IPO market lot has 1,600 shares and the minimum application amount is INR 1,28,000. The retail quota is 35%, QIB is 50% and NII is 15%.
Check Braceport Logistics IPO subscription status here. The subscription figures are taken from NSE SME and are updated at regular intervals. Here you can find Braceport Logistics IPO subscription status segregated by days and investor categories.
Braceport Logistics IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Total |
| Shares Offered | 3,58,400 | 8,00,000 | 12,00,000 | 23,58,400 |
| 21 Aug 2024 | 450.04 | 854.68 | 588.74 | 657.87 |
| 20 Aug 2024 | 16.83 | 105.98 | 227.61 | 154.32 |
| 19 Aug 2024 | 6.59 | 28.85 | 79.37 | 51.17 |
The market maker reservation portion of 1,55,200 shares and anchor allocation of 5,37,600 shares are not included in the above calculations.
Braceport Logistics – Business Background
Braceport Logistics offers a range of value-added services, including air freight, warehousing facilities, special cargo services (such as handling cargo in one foreign country and delivering it to another), and customs clearance services.
The company has strong pan-India and global network to meet the needs of customers across a wide range of industries. These include medical supplies and pharma, sports goods, perishables, electronics, consumer durables, automotive, and more. The company has a presence in Germany, Vietnam, the UAE, Hong Kong, and Bangladesh.
As of 18 July 2024, BracePort Logistics employed 25 people across various departments, including Accounts & Finance, Compliance, Maintenance, Marketing & Logistics, Production & Operations, Quality, Top-Level Management, and Permanent Labor.
Investor Categories in Braceport Logistics IPO Subscription
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The three most important categories of IPO investors defined by SEBI are part of the Braceport Logistics IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
Read Also: Jaipur-based SK Finance IPO out of SEBI abeyance
Braceport Logistics IPO Subscription Status FAQs
When will the subscription for the Braceport Logistics IPO start?
Braceport Logistics IPO is open for subscription from 19 August 2024 to 21 August 2024.
How to subscribe to Braceport Logistics IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When Braceport Logistics IPO will be listed?
Braceport Logistics IPO is scheduled to be listed on 26 August 2024, at the NSE EMERGE.
