Brace Ports Logistics IPO Booked 658 Times On Day 3: Allotment Status and Listing Date

Brace Ports Logistics IPO Booked 658 Times: Brace Port Logistics IPO which was launched on August 19 and was closed on August 21. The public offering consists of a fresh issue of shares that was subscribed to 658 times on the final day.

Brace Port Logistics Ltd offered 23.58 lakh shares but the company got bids from investors for over 155 crore shares.

The Brace Port Logistics IPO non-institutional portion was subscribed the most. The NIIs were booked 854.68 times, with proposals for 68.37 crore shares while only 8 lakh shares were issued by the company.

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Retail individual investors’ portion was booked 588.74 times on the final day and received bids for 70.64 crore shares against  12 lakh shares issued by the company.

Meanwhile, Qualified Institutional Buyers (QIBs) were subscribed 450 times and received bids for 16.12 crore shares against 3.58 lakh shares set aside by the company.

Brace Port Logistics IPO consists of a fresh issue of 30.51 lakh shares at a set price band of Rs 76 to Rs 80 per share.

The minimum lot size that investors can bid for is 1600 shares, this increased the minimum investment quantity for retail individuals to ₹1.28 lakh.

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The Brace Port Logistics IPO allotment status is expected to be finalized on Thursday, August 22, and is likely to be listed on BSE and NSE on Monday.

Furthermore, the refunds will be given back to the unsuccessful bidders and successful bidders’ demat accounts will be credited with shares on Friday, August 23.

Link Intime India Private Limited is the registrar of the issue of Brace Port Logistics IPO and Holani Consultants Private Limited is appointed as the book-running lead manager.

The company plans to use the funds raised from its public offering to fund working capital needs and for day-to-day business purposes.

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