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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 ₹20.00 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). The minimum lot size investment for 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 Date | September 30, 2021 to October 5, 2021 |
| Listing Date | October 13, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 26,94,000 shares (aggregating up to ₹5.39 Cr) |
| Reserved for Market Maker | 1,38,000 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹0.2760 Cr) |
| Net Offered to Public | 25,56,000 shares (aggregating up to ₹5.11 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 50,00,000 shares |
| Share Holding Post Issue | 76,94,000 shares |
Destiny Logistics & Infra IPO offers total 26,94,000 shares. Out of which 12,78,000 (47.44%) allocated to NII, 12,78,000 (47.44%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,38,000 (5.12%) |
| NII (HNI) Shares Offered | 12,78,000 (47.44%) |
| Retail Shares Offered | 12,78,000 (47.44%) |
| Total Shares Offered | 26,94,000 (100.00%) |
Destiny Logistics IPO opens on September 30, 2021, and closes on October 5, 2021.
| IPO Open Date | Thu, Sep 30, 2021 |
| IPO Close Date | Tue, Oct 5, 2021 |
| Tentative Allotment | Fri, Oct 8, 2021 |
| Initiation of Refunds | Mon, Oct 11, 2021 |
| Credit of Shares to Demat | Tue, Oct 12, 2021 |
| Tentative Listing Date | Wed, Oct 13, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Oct 5, 2021 |
Investors can bid for a minimum of 6,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
| Particulars | For the year/period ended (₹ in Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |||
| Total Assets | 660.77 | 180.11 | 179.83 | ||
| Total Revenue | 1005.79 | 674.97 | 672.97 | ||
| Profit After Tax | 30.30 | 5.11 | 4.78 | ||
The Company Destiny Logistics IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | To meet Working Capital requirement | 4.40 |
| 2 | General Corporate Expenses | 0.60 |
| 3 | Public Issue Expenses | 0.39 |
[Dilip Davda] Though the company is doing asset-light business, it is in a highly competitive and fragmented business. Financial data is not matching the aggressive asking price. Even with the higher earnings of FY21, issue pricing is at a high P/E. There is no harm in giving this issue a MISS. Read detail review...
| Listing Date | October 13, 2021 |
| BSE Script Code | |
| NSE Symbol | DESTINY |
| ISIN | INE0IGO01011 |
| Final Issue Price | ₹20 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹20.70 |
| Low | ₹19.70 |
| High | ₹20.70 |
| Last Trade | ₹19.70 |
Destiny Logistics & Infra Ltd.
375,
Dakshindari Road,
Kolkata, West Bengal, 700048
Phone: 033-40087463
Email: cs@destinyinfra.in
Website: http://www.destinyinfra.in/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
Destiny Logistics IPO is a SME IPO of 26,94,000 equity shares of the face value of ₹10 aggregating up to ₹5.39 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on September 30, 2021, and closes on October 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 September 30, 2021 and closes on October 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 Tuesday, October 12, 2021. Check the Destiny Logistics IPO allotment status.
The Destiny Logistics IPO listing date is on Wednesday, October 13, 2021.
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