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Destiny Logistics & Infra IPO is a fixed price issue of Rs 5.39 crores.
Destiny Logistics & Infra IPO bidding started from September 30, 2021 and ended on October 5, 2021. The allotment for Destiny Logistics & Infra IPO was finalized on Friday, October 8, 2021. The shares got listed on NSE SME on October 13, 2021.
Destiny Logistics & Infra IPO price is ₹20 per share. The minimum lot size for an application is 6000 Shares. The minimum amount of investment required by retail investors is ₹120,000.
Finshore Management Services Limited is the book running lead manager of the Destiny Logistics & Infra IPO, while Cameo Corporate Services Limited is the registrar for the issue.
Refer to Destiny Logistics & Infra IPO RHP for detailed information.
| IPO Date | September 30, 2021 to October 5, 2021 |
| Listing Date | October 13, 2021 |
| Face Value | ₹10 per share |
| Price | ₹20 per share |
| Lot Size | 6000 Shares |
| Total Issue Size | 2,694,000 shares (aggregating up to ₹5.39 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 138,000 shares |
Destiny Logistics & Infra IPO offers 2,694,000 shares. 1,278,000 (47.44%) to NII, 1,278,000 (47.44%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 138,000 (5.12%) |
| Other Shares Offered | 1,278,000 (47.44%) |
| Retail Shares Offered | 1,278,000 (47.44%) |
| Total Shares Offered | 2,694,000 (100%) |
Destiny Logistics & Infra IPO opens on September 30, 2021, and closes on October 5, 2021.
| IPO Open Date | Thursday, September 30, 2021 |
| IPO Close Date | Tuesday, October 5, 2021 |
| Basis of Allotment | Friday, October 8, 2021 |
| Initiation of Refunds | Monday, October 11, 2021 |
| Credit of Shares to Demat | Tuesday, October 12, 2021 |
| Listing Date | Wednesday, October 13, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 5, 2021 |
Investors can bid for a minimum of 6000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6000 | ₹120,000 |
| Retail (Max) | 1 | 6000 | ₹120,000 |
| Lot Size Calculator | |||
Mr. Jugal Kishore Bhagat and Mrs. Rekha Bhagat are the company promoters.
| Share Holding Pre Issue | 99.72% |
| Share Holding Post Issue | 64.79% |
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 net proceeds from the IPO will be utilized towards the following purposes;
[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...
The Destiny Logistics & Infra IPO is subscribed 4.78 times on October 5, 2021 5:00:00 PM. 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) |
|---|---|
| Other | 2.13 |
| Retail | 7.43 |
| Total | 4.78 |
| Listing Date | October 13, 2021 |
| BSE Script Code | |
| NSE Symbol | DESTINY |
| ISIN | INE0IGO01011 |
| Final Issue Price | ₹20 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹20.00 |
| ₹20.70 |
| ₹19.70 |
| ₹20.70 |
| ₹19.70 |
Destiny Logistics & Infra Limited
375, Dakshindari Road,
Kolkata – 700 048
Phone: 033-40087463
Email: cs@destinyinfra.in
Website: http://www.destinyinfra.in/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: investor@cameoindia.com
Website: https://ipo.cameoindia.com/
SME Company Owners
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Destiny Logistics & Infra IPO is a SME IPO of 2,694,000 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 Shares.
The IPO opens on September 30, 2021, and closes on October 5, 2021.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Destiny Logistics & Infra IPO using UPI as a payment gateway. Zerodha customers can apply in Destiny Logistics & Infra IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Destiny Logistics & Infra IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Destiny Logistics & Infra IPO opens on September 30, 2021 and closes on October 5, 2021.
Destiny Logistics & Infra IPO lot size is 6000 Shares, and the minimum amount required is ₹120,000.
You can apply in Destiny Logistics & Infra IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Destiny Logistics & Infra 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 & Infra IPO allotment status.
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