26-Jul-2024
2 mins read
- Ashapura Logistics IPO is a book-built issue of Rs 52.66 crores.
- This upcoming IPO bidding opens on July 30 and closes on August 1, 2024.
- Ashapura Logistics sme IPO price is set at Rs 136 - Rs 144 per share.
- The minimum amount required for retail investors is Rs 1,44,000.
Ashapura Logistics IPO: Synopsis
Ashapura Logistics is open for subscription from Tuesday, July 30, 2024, and closing on Thursday, August 1, 2024. The price band for this IPO is set to Rs 136 – Rs 144 per share.
Ashapura Logistics IPO is offering a book-built public issue of an entirely fresh issue of Rs 36.57 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024. This IPO will be listed on the NSE SME segment on Friday, August 6, 2024.
The minimum lot size set for the retail category is 1 lot, i.e., 1000 shares. For retail investors, the minimum and maximum investment amount required is Rs 144,000. However, for the HNI category the maximum lot size is 2 lots i.e., 2000 shares amounting to Rs 288,000.
The IPO is managed by Beeline Capital Advisors, which is the lead manager of the public issue. The company has appointed Kfin Technologies Limited as the registrar for the issue.
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Ashapura Logistics Limited: About the Company
Ashapura Logistics Limited was incorporated in the year 2009 as an Indian logistics company engaged in cargo handling, freight forwarding, transportation, warehousing, distribution, and coastal movement. It gives end-to-end logistics solutions with pan-India presence, technology-infused services, and a nationwide vehicle fleet network. The company is ISO 9001:2015 certified for customs clearance, freight forwarding, supply chain management, and 3PL.
The freight forwarding team, based in Ahmedabad, along with its branches at key seaports, extends its services to the existing customer base. Ashapura Logistics has 250 commercial trucks as of March 31, 2024, in its fleet and operates seven warehouses with aggregate storage capacity of about 284,000 square feet. As of June 30, 2024, the number of employees was more than 219, out of which above 111 are in Operations and Transportation.
Ashapura Logistics IPO: Objectives
The funds from the fresh issue will be strategically allocated to several key areas, a portion will be dedicated to capital expenditures, specifically for purchasing vehicles and equipment to improve logistics efficiency. Furthermore, the firm investing in the construction of warehouses in Mundra, Gujarat. The funding will also address incremental working capital needs. Lastly, a portion of the proceeds will be reserved for general corporate purposes.
Ashapura Logistics IPO: Other Important Details
Time-Table of Ashapura Logistics IPO
Ashapura Logistics IPO: Financial Metrics (Amt in Rs Lakhs)
The company's revenue was reported to be Rs 199.35 crore for the year ended March 2024, which shows a decrease of -10.45% as compared to March 2023. The profit after tax rose by 30.46% for the year ended March 2024 compared to March 2023.
Minimum Investment: Lot Size Details
Promoters of Ashapura Logistics Limited and Their Holdings
The company promoters are Mr. Sujith Chandrasekhar Kurup and Mrs. Chitra Sujith Kurup. The promoters collectively held 92.45% of the company's shares. However, post-IPO, the change in their combined shareholding to be 67.51%.
Ashapura Logistics: Strength of Company
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Ashapura Logistics specialises in handling cargo, transportation, and warehousing and offers other related service.
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The company is Certified with ISO 9001:2015 for providing customs clearance, freight forwarding, supply chain management, etc.
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The company's net profit increased by 30.46% for FY24
FAQs
1. What are the core details available of Ashapura Logistics IPO?
Ashapura Logistics IPO is a book-built issue of Rs 52.66 crore. This upcoming IPO offering entirely a fresh issue of 36.57 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 2, 2024.
2. How can I apply for the Ashapura Logistics IPO?
The public subscription of this new IPO opens on July 30 and close on August 1, 2024. Click here to initiate the application process.
3. Who are the lead managers for the Ashapura Logistics IPO?
Beeline Capital Advisors appointed as the book-running lead managers for the IPO.
4. Who is appointed as the registrar for this IPO?
Kfin Technologies Limited has been appointed as the registrar for this public issue.
5. How will the net proceeds from the IPO be utilised?
The funds from the public issue will be strategically allocated to several key areas, a portion will be dedicated to capital expenditures, specifically for purchasing vehicles and equipment to improve logistics efficiency. Furthermore, the firm investing in the construction of warehouses in Mundra, Gujarat. The funding will also address incremental working capital needs. At last a portion of the proceeds will be reserved for general corporate purposes.
6. How can I check the allotment status of the IPO?
Investors who applied for IPO can check the allotment status of Ashapura Logistics Limited by visiting here, for further updates, follow Bigul.
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