Eastern Logica Infoway Limited IPO

Admin | January 5, 2023 | IPO | No Comments

Eastern Logica Infoway Limited, incorporated in 1995, is involved in the business of multi-various brand retail and retail selling. They also work as a dealer of software, branded smartphones, allied accessories, IT hardware, and services. Eastern Logica Infoway has established 4 offices, 11 retail stores, 2 distribution centers, and virtual offices across 11 cities in the Country which shows that the company has spread its operations in different parts of India. They work on a lease rental model with a prime focus on securing retail spaces, ensuring high visibility and easy accessibility to customers. The company has built a secure lead of customers and some of them are – Balaji Solutions Limited, Checkers India Technology Private Limited, Eshaa Communication Private Limited, Fareast Exim Venture Private Limited, and Aakanksha Distributors Private Limited.

The company’s services are divided into four broad parameters:

Retail
Services
E-Commerce
Distribution

Company Financials

Period Ended	Total Assets	Total Revenue	Profit After Tax	Net Worth	Reserves and Surplus	Total Borrowing
31-Mar-20	8490.92	49882.84	181.62	2832.66	2622.68	2931.84
31-Mar-21	10324.43	44702.9	233.59	3126.02	2911.37	4413.71
31-Mar-22	12663.71	61558.01	285.34	3470.3	3251.65	5967.53
30-Sep-22	12561.79	30504.16	133.14	3603.44	3384.79	5694.82
Amount in ₹ Lakhs

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Fresh Offer towards funding the following objects:

Funding working capital requirements;
General corporate purposes.

Eastern Logica Infoway IPO Details

IPO Date	Jan 5, 2023 to Jan 9, 2023
Listing Date	[.]
Face Value	₹10 per share
Price	₹225 per share
Lot Size	600 Shares
Issue Size	753,000 shares of ₹10(aggregating up to ₹16.94 Cr)
Fresh Issue	664,200 shares of ₹10(aggregating up to ₹14.94 Cr)
Offer for Sale	88,800 shares of ₹10(aggregating up to ₹2.00 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	BSE SME
NII (HNI) Shares Offered	50.00% of the net offer
Retail Shares Offered	50.00% of the net offer
Market Maker	NIKUNJ STOCK BROKERS LIMITED
Company Promoters	Gaurav Goel and Shweta Goel are the Promoters of the Company.

Eastern Logica Infoway IPO Tentative Timetable

Event	Tentative Date
Opening Date	Jan 5, 2023
Closing Date	Jan 9, 2023
Basis of Allotment	Jan 12, 2023
Initiation of Refunds	Jan 13, 2023
Credit of Shares to Demat	Jan 16, 2023
Listing Date	Jan 17, 2023