In the ever-changing world of small and medium-sized enterprises (SMEs) in India, the BSE SME Platform shines as a symbol of growth and opportunity. Recently, GConnect Logitech and Supply Chain Ltd joined this prestigious platform as the 489th SME to be listed, adding to the inspiring tales of entrepreneurial success. As the BSE SME platform nears the significant milestone of 500 listed SMEs, we at BharatiyaMedia are excited to commemorate this achievement by highlighting these vibrant businesses. Come along as we delve into the unique and motivating stories behind each of these listed SMEs, showcasing their resilience, innovation, and valuable contributions to India’s economic progress.
GConnect Logitech and Supply Chain Ltd, headquartered in Bhavnagar, Gujarat, stands at the forefront of intelligent transport solutions and logistics. Founded by Vinod Venilal Sheth and managed by Managing Director Jigar Vinodbhai Sheth, since its establishment in 2022, the company has established itself as a trusted partner, offering reliable logistics services to global leaders across various industries.
Mission to Transform:
The company’s mission is to propel into the future by developing an innovative online portal set to redefine logistics. This platform aims to revolutionize both public and corporate logistics, providing seamless booking services for inbound and outbound transportation, thus optimizing the movement of goods.
Vision of Advancement:
With a focus on efficiency and cost reduction, GConnect aims to solidify its position as a forward-thinking industry leader. Through technological advancements, the company endeavors to establish a robust network, ensuring unparalleled service delivery and operational excellence.
Impressive Debut on the Bourses:
GConnect Logitech and Supply Chain marked a notable debut on the bourses on April 3, 2024. Listed on BSE SME, the company’s share price opened at ₹42 per share, a significant 5 percent higher than the issue price of ₹40.
Strong Subscription Figures:
The IPO of GConnect Logitech garnered immense investor interest, with a subscription rate of 57.38 times over a three-day issue period. The overwhelming response saw bids worth 7.6 crore shares, far surpassing the 13.26 lakh shares on offer. Notably, the public issue was subscribed 71.74 times in the retail category and 42.90 times in the ‘others’ category by March 28, 2024.
Details of the IPO:
GConnect Logitech’s IPO is a fixed price issue of ₹5.60 crores, comprising entirely of fresh issue shares totaling 14.01 lakh shares. The minimum lot size for an application was set at 3000 shares, with retail investors required to make a minimum investment of ₹1,20,000. On the other hand, High Net Worth Individuals (HNIs) were required to invest in a minimum of 2 lots (6,000 shares), amounting to ₹2,40,000.
Key Players in the IPO
Fedex Securities Pvt Ltd served as the book-running lead manager of the GConnect Logitech IPO, overseeing the process with expertise. Additionally, Kfin Technologies acted as the IPO registrar, ensuring smooth operations throughout the IPO process.
Utilization of Proceeds
The company has outlined strategic plans for the utilization of the net issue proceeds, including the purchase of vehicles, financing the development of their website and app, and for general corporate purposes.
Services Offered:
1. Bulk Load Service:
Tailored transportation solutions designed to meet the unique requirements of customers, ensuring efficient management of bulk transportation services.
2. Full Truck Load (FTL) Services:
Integrated FTL services aimed at providing efficient and cost-effective logistical management, catering to diverse cargo needs.
3. Dedicated Load Services:
Unmatched dedicated load services that go beyond traditional logistics solutions, guaranteeing flawless operations and client satisfaction.
Vision for Future Fleet Management:
GConnect envisions the future of logistics with the development of a cutting-edge, user-friendly application. This innovative tool aims to empower fleet owners across India by optimizing vehicle utilization and streamlining load management for maximum returns.
Strategic Investment:
The company’s visionary approach and strategic investment in technology will fuel the development of this groundbreaking platform, creating a dynamic ecosystem that benefits both fleet owners and businesses seeking reliable transportation solutions.
Shaping the Future of Logistics:
By embracing technological advancements, GConnect aims to usher in a new era of growth and efficiency in the logistics industry. The company’s vision extends beyond providing services; it aspires to create a dynamic and interconnected logistics network that fosters collaboration, trust, and success for all stakeholders.
Conclusion:
Join GConnect Logitech and Supply Chain Ltd, founded by Vinod Venilal Sheth and managed by Mr. Jigar Vinodbhai Sheth, on its journey towards shaping the future of logistics in India and beyond. With a commitment to innovation and operational excellence, GConnect is poised to revolutionize the logistics landscape and drive sustainable growth in the industry.
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