Brace Port Logistics IPO was composed entirely of a fresh issue of 30.51 lakh shares. The allotment for the Brace Port Logistics IPO is expected to be finalized on Thursday, August 22, with a tentative listing date fixed as Monday, August 26, on the NSE SME.

If you applied for the IPO, here is how you can check the Brace Port Logistics IPO allotment status.

Checking Allotment Status on Registrar's Website:

Follow these steps to check the Brace Port Logistics IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "Brace Port Logistics" from the dropdown menu.
3. Then you can enter your PAN, application number, or Demat.
4. Click Submit to retrieve the Brace Port Logistics IPO allotment status

If all the details are entered correctly and the allotment has been finalised, the Brace Port IPO allotment status will be visible.

Brace Port Logistics IPO Subscription

The IPO, which opened for subscription on Monday, August 19, and closed on Wednesday, August 21, has been subscribed 657.81 times. The Qualified Institutional Buyers (QIBs) portion was oversubscribed 450.04 times, while the Non-Institutional Investors (NIIs) portion saw an oversubscription of 854.49 times. The Retail Investors portion was subscribed 588.74 times.

The IPO’s allocation structure reserves 11.75% of the shares for QIBs, 26.22% for NIIs, 39.33% for Retail Investors, and 17.62% for Anchor investors.

Brace Port Logistics IPO GMP

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As of now, the GMP for the Brace Port Logistics IPO is reported at ₹118. The stock is expected to list at a premium of over 145%. However, it is crucial to remember that while IPO GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock’s performance upon listing.

Brace Port Logistics IPO Details

The price band for the Brace Port Logistics IPO was set at ₹76 to ₹80 per share. The minimum lot size for an application was 1,600 shares, requiring a minimum investment of ₹1.28 lakh by retail investors.

The company intends to use the net proceeds from the offering to fund its working capital requirements and address general corporate purposes.

Brace Port Logistics Details

Established in November 2020, Brace Port Logistics Limited specializes in providing ocean cargo logistics services to clients across various sectors of the economy. The company also offers services such as Air Freight, Warehousing facilities, special cargo services, and customs clearance services. It serves customers in various industries including medical supplies, pharmaceuticals, sports goods, perishables, electronics, consumer durables, and automotive, both in India and globally.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.