Fixed Price IPO | ₹5 Cr | Listed at NSE SME | Thu, Sep 30, 2021 - Tue, Oct 5, 2021
Destiny Logistics IPO is a fixed price issue of ₹5.39 crores. The issue is entirely a fresh issue of 0.27 crore shares of ₹5.39 crore.
Destiny Logistics IPO bidding started from Sep 30, 2021 and ended on Oct 5, 2021. The allotment for Destiny Logistics IPO was finalized on Oct 8, 2021. The shares got listed on NSE SME on Oct 13, 2021.
Destiny Logistics IPO price is ₹20 per share. The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (6000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (12,000 shares), amounting to ₹2,40,000.
Finshore Management Services Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Destiny Logistics IPO RHP for detailed Information.
IPO Open
Thu, Sep 30, 2021
IPO Close
Tue, Oct 5, 2021
Issue Price
₹20 per share
Market Cap (Pre-IPO)
₹15.39 Cr
| IPO Date | 30 Sep to 5 Oct, 2021 |
| Listed on | Wed, Oct 13, 2021 |
| Face Value | ₹10 per share |
| Issue Price | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 26,94,000 shares (agg. up to ₹5 Cr) |
| Reserved for Market Maker | 1,38,000 shares Nikunj Stock Brokers Ltd. (agg. up to ₹0.2760 Cr) |
| Fresh Issue (Ex Market Maker) | 25,56,000 shares (agg. up to ₹5 Cr) |
| Net Offered to Public | 25,56,000 shares (agg. up to ₹5 Cr) |
| Share Holding Pre Issue | 50,00,000 shares |
| Share Holding Post Issue | 76,94,000 shares |
| NSE Symbol | DESTINY |
| ISIN | INE0IGO01011 |
Destiny Logistics IPO comprises a total issue size of 26,94,000 shares. The net offer to the public is 25,56,000 shares, after excluding 1,38,000 shares allotted on a firm basis. Of the Net offer 12,78,000 (50.00%) allocated to NII 12,78,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 12,78,000 | 50.00% | 47.44% |
| Retail Shares Offered | 12,78,000 | 50.00% | 47.44% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,38,000 | 5.12% | |
| Total Shares Offered | 26,94,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | ₹1,20,000 |
| Retail (Max) | 1 | 6,000 | ₹1,20,000 |
| HNI (Min) | 2 | 12,000 | ₹2,40,000 |
Incorporated in 2011, Destiny Logistics and Infra Limited provide logistics services i.e. land-based transportation via 3rd party service providers. It offers a wide range of services i.e. packaging, loading, transportation, unloading, and unpacking of items to offer end-to-end solutions. The company's operations are concentrated in the domestic market, more particularly, in the state of West Bengal.
The business has further diversified into the infrastructure development activity and started the "Construction of Storm Water Drainage Scheme Project" in West Bengal. The total contract value awarded is Rs. 58.27 crores.
Competitive Strengths
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet Working Capital requirement | 4.40 |
| 2 | General Corporate Expenses | 0.60 |
| 3 | Public Issue Expenses | 0.39 |
The Destiny Logistics & Infra IPO is subscribed 4.78 times on October 5, 2021 5:00:00 PM (Day 4). The public issue subscribed 7.43 times in the retail category, [.] times in the QIB category, and 2.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 2.13 | 12,78,000 | 27,24,000 |
| Retail | 7.43 | 12,78,000 | 94,98,000 |
| Total | 4.78 | 25,56,000 | 1,22,22,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manager Fees including Underwriting Commission, Brokerage, Selling Commission and upload Fees, Registrar to the Issue, Legal Advisors etc. | 0.28 |
| 2 | Advertising and Marketing Expenses | 0.03 |
| 3 | Regulators Including Stock Exchanges | 0.07 |
| 4 | Printing and distribution of Issue Stationary | 0.02 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹20.70 |
| Low | ₹19.70 |
| High | ₹20.70 |
| Last Trade | ₹19.70 |
Lead Manager Reports
Destiny Logistics IPO is a SME IPO of 26,94,000 equity shares of the face value of ₹10 aggregating up to ₹5 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on Thu, Sep 30, 2021, and closes on Tue, Oct 5, 2021.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Destiny Logistics IPO using UPI as a payment gateway. Zerodha customers can apply in Destiny Logistics IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Destiny Logistics IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Destiny Logistics IPO opens on Thu, Sep 30, 2021 and closes on Tue, Oct 5, 2021.
Destiny Logistics IPO lot size is 6000, and the minimum amount required for application is ₹1,20,000.
You can apply in Destiny Logistics IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Destiny Logistics IPO will be done on Friday, October 8, 2021, and the allotted shares will be credited to your demat account by Tue, Oct 12, 2021. Check the Destiny Logistics IPO allotment status.
The Destiny Logistics IPO listing date is on Wed, Oct 13, 2021.
