Destiny Logistics & Infra Limited IPO Detail
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
- A comprehensive range of transportation services and diversification in infrastructure development.
- Well-defined organizational structure.
- Managerial expertise and smooth operational flow.
Company Promoters
Mr. Jugal Kishore Bhagat and Mrs. Rekha Bhagat are the company promoters.IPO Details
| IPO Opening Date | Sep 30, 2021 |
| IPO Closing Date | Oct 05, 2021 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹20 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹5.39 Cr |
| Fresh Issue | - |
| Offer for Sale | - |
| Retail Portion | - |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.0x | - | - | 2.00x | 0.24x | 1.12x |
| Day 2 | 0.0x | - | - | 2.06x | 2.50x | 2.28x |
| Day 3 | 0.0x | - | - | 2.06x | 4.51x | 3.29x |
| Day 4 | 0.0x | - | - | 2.13x | 7.31x | 4.72x |
IPO Tentative Timetable
The Destiny Logistics & Infra Limited IPO open date is Sep 30, 2021, and the close date is Oct 05, 2021. The issue may list on Oct 13, 2021.
| IPO Open Date | Sep 30, 2021 |
| IPO Close Date | Oct 05, 2021 |
| Basis of Allotment Date | Oct 08, 2021 |
| Initiation of Refunds | Oct 11, 2021 |
| Credit of Shares to Demat Account | Oct 12, 2021 |
| IPO Listing Date | Oct 13, 2021 |
IPO Lot Size
The Destiny Logistics & Infra Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹40000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹40000 |
| Maximum | 1 | 2000 | ₹40000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.72% |
| Post Issue Share Holding | 64.79% |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 6.6077 | 10.0579 | 0.3030 |
| 31-Mar-20 | 1.8011 | 6.7497 | 0.0511 |
| 31-Mar-19 | 1.7983 | 6.7297 | 0.0478 |
Objects of the Issue:
The net proceeds from the IPO will be utilized towards the following purposes;
- Meet working capital requirements.
- To meet issue expenditures.
- Meet general corporate purposes.
