The allotment for Brace Port Logistics is expected to be finalized today. Investors can check their allotment status via the registrar, Link Intime India Private. The IPO, which ran from August 19 to August 21, saw a stellar response, with the retail portion being subscribed to 588 times.
Due to the oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, Brace Port Logistics will start the refund process for the application money on August 23, 2024.
Allotted shares will be credited to investors’ demat accounts on the same day as the refund process. Brace Port Logistics is a SME IPO, with shares tentatively scheduled to be listed on both the NSE SME platforms on August 26, 2024.
Overall, the IPO was subscribed to 657.81 times, receiving bids for 1,55,13,71,200 shares against the available 2,358,400 shares. The IPO is a book-built issue of 24.41 crores.
The issue is entirely a fresh issue of 30.51 lakh shares. The price band of the Brace Port Logistics IPO was set at 76 to 80 per share.
Brace Port Logistics IPO allotment status check
Step 1: Visit the Link Intime India website at this link: https://linkintime.co.in/initial_offer/public-issues.html
Step 2: Select ‘Brace Port Logistics’ in the Select Company dropdown menu.
Step 3: Choose among PAN, App. No., DP/Client ID, and Account No./IFSC.
Step 4: Enter the details as per the option selected.
Step 5: Click on ‘Submit’
Your Brace Port Logistics IPO allotment status will be displayed on the screen.
Brace Port Logistics
The company is a service-based logistics company primarily engaged in the business of providing ocean cargo logistics services to its clients operating in the various sectors of the economy.
It also provides various value-added services like air freight, warehousing facilities, special cargo services such as handling cargo in foreign countries and delivery of the same in other foreign countries, and customs clearance services, the company said in its DRHP report.
The company, along with its group companies and holding company, has an extensive network across the globe. It provides its services at a worldwide level, where it caters for clients across the globe and even provides cross-border shipment facilities as well, the company said in an exchange filing.
The company said it has a strong pan-India and global network to meet the needs of its customers across a wide range of industries, including medical supplies and pharma, sports goods, perishables, electronics, consumer durables, automotive, etc.
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Dhuleswar Garnayak is a seasoned journalist with extensive expertise in international relations, business news, and editorials. With a keen understanding of global dynamics and a sharp analytical mind, Dhuleswar provides readers with in-depth coverage of complex international issues and business developments. His editorial work is known for its insightful analysis and thought-provoking commentary, making him a trusted voice in understanding the intersections of global affairs and economic trends.
