Ashapura Logistics Limited

30 Jul 2024 - 01 Aug 2024 Individual Category SME NSE

Min Investment

₹288000

Price Band

₹136-₹144

Issue Size

26.17 lakhs
Equity Shares

Lot Size

1000 (per lot)

IPO Dates
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30 Jul 2024

Open Date

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01 Aug 2024

Close Date

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02 Aug 2024

Allotment Date

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06 Aug 2024

Listing Date

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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About Ashapura Logistics Limited

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

Founded

2009

Managing Director

Mr. Sujith Chandrasekhar Kurup and Mrs. Chitra Sujith Kurup

Parent Organization

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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