SJ Logistics IPO opens next week, price band set at ₹121-125 per share
SJ Logistics (India) Limited offers its clients supply chain and logistics solutions. The business offers services for transportation handling, customs clearance, and goods forwarding.
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Over 3,100 bills of lading to Africa, South America, Australia, Europe, the Gulf, Southeast Asia, Russia, and the United States were processed by the company in the fiscal year 2023.
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Between March 31, 2022, and March 31, 2023, S J Logistics (India) Limited’s profit after tax (PAT) increased by 340.23%, while its revenue increased by 29.88%.
As stated in the Red Herring Prospectus (RHP), the company’s listed peers are Patel Integrated Logistics Limited (with P/E of 14.07), and Tiger Logistics (India) Limited (with P/E of 18.12).
SJ Logistics IPO details
SJ Logistics IPO, which is worth ₹48 crore, is completely a fresh issue of 3,840,000 equity share; there is no offer for sale (OFS) component, according to RHP.
The company plans to use the net proceeds for general corporate purposes, working capital requirements, and the repayment and/or prepayment, in full or in part, of certain loans that it has taken out.
The S J Logistics IPO’s registrar is Maashitla Securities Private Limited, and the book running lead manager is Hem Securities Limited. Hem Finlease is the market maker for the S J Logistics IPO.
The company’s promoter is Rajen Hasmukhlal Shah.
SJ Logistics IPO basis of allotment of shares will be finalised on Friday, December 15 and the company will initiate refunds on Monday, December 18, while the shares will be credited to the demat account of allottees on the same day. SJ Logistics IPO shares are likely to be listed on NSE SME on Tuesday, December 19.
SJ Logistics IPO GMP today
SJ Logistics IPO GMP today or grey market premium is +95. This indicates SJ Logistics share price were trading at a premium of ₹95 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of SJ Logistics share price was indicated at ₹220 apiece, which is 76% higher than the IPO price of ₹125.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
SJ Logistics IPO review
“The company is in providing services related to logistics and supply chain solutions. It marked inconsistency in its top lines for the reported periods, but marked sudden boost in its bottom lines from FY23 onwards. Based on super annualised FY24 earnings, the issue appears reasonably priced. Well-informed investors may park funds for long-term rewards,” said Dilip Davda, the contributing editor at Chittorgarh.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 09 Dec 2023, 04:43 PM IST
