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Brace Port Logistics, a global provider of integrated ocean, air, and special cargo logistics, plans to raise ₹24 crore through an initial public offer on NSE Emerge.
The debt-free company will issue 30.51 equity shares at ₹76-80 per share. The lot size has been fixed at 1,600 equity shares. The retail portion of the issue will open for bidding on Monday.
Sachin Arora, Managing Director, Brace Port Logistics said with a strong foundation built on over two decades of industry expertise, the company has established itself as a leader in providing highly optimised and customised supply chain solutions.
The extensive global network, coupled with advanced technology systems, allows the company to deliver comprehensive logistics services across a wide range of industries from medical supplies to automotive goods, he added.
Of the overall fund raised, the company will use ₹16 crore for working capital as the credit drivers are longest in logistics business and the remaining funds will be used to set up offices in key global markets.
The capex is expected to improve service efficiency, strengthen market position and enable the company to seize new growth opportunities.
In FY24, the company achieved a revenue of ₹55 crore, EBITDA of ₹7 crore and net profit of ₹5 crore.
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