IPO Details

Bidding Dates

30 Jul '24 - 01 Aug '24

Minimum Investment

₹144,000 / 1 Lot (1,000 Shares)

Price Range

₹136 - ₹144

Maximum Investment

₹144,000 / 1 Lot (1,000 Shares)

Retail Discount

To be announced

Issue Size

₹52.66 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Jul 30, 2024

IPO Close Date

Aug 1, 2024

Basis of Allotment

Aug 2, 2024

Initiation of Refunds

Aug 5, 2024

Credit of Shares to Demat

Aug 5, 2024

Listing Date

Aug 6, 2024

Cut-off time for UPI mandate confirmation

Aug 1, 2024

About Ashapura Logistics Limited

Incorporated in 2009, Ashapura Logistics Limited is a prominent Indian logistics company specialising in handling cargo, forwarding freight, transportation (including project logistics and third-party logistics), warehousing, distribution, and coastal movement. The company stands out due to its nationwide presence, comprehensive service offerings, emphasis on enhancing services through technology, and an extensive vehicle fleet network.

Ashapura Logistics is ISO 9001:2015 certified, highlighting its commitment to quality in customs clearance, freight forwarding, supply chain management, warehousing, distribution, surface transportation, cargo handling, and 3PL services. The freight forwarding team operates from Ahmedabad with branches at key sea ports like Hazira, Mundra, Pipavav, Kandla, JNPT, and other Inland Container Depots (ICDs), providing freight forwarding and Customs House Agent (CHA) services to existing customers.

As of March 31, 2024, the company's fleet consists of 250 commercial trucks, with 181 owned by its subsidiary and 69 owned directly by the company. Additionally, Ashapura Logistics manages and operates seven warehouses, offering a total storage capacity of approximately 284,000 square feet.

As of June 30, 2024, the company employs over 219 people, including more than 111 in Operations and Transportation. This robust team and infrastructure enable Ashapura Logistics Limited to deliver reliable and efficient logistics solutions across India.

Industry Outlook:

  1. The Indian warehousing market is projected to reach US$ 34.99 billion by 2027, growing at a CAGR of 15.64% from 2022 to 2027.
  2. India saw a 21% year-over-year increase in Grade A and B warehouse space in the top eight cities in 2021, totalling 287 million square feet.

Ashapura Logistics Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding capital expenditure requirement of the company towards the purchase of trucks (“Vehicles”) and ancillary equipment (“Equipment”).
  2. Construction of warehouses at the facilities located at Mundra, Gujarat
  3. Funding the incremental working capital requirement of the company
  4. General Corporate Purposes

Peer Details

Ashapura Logistics considers S J Logistics (India) Limited as its only peer in the industry.

How to Check the Allotment Status of the Ashapura Logistics Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

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  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.

Contact Details of Ashapura Logistics Limited IPO

  • Registered office: B-902 Shapath Hexa, Opp. High Court, S.G. Highway, Sola, Ahmedabad- 380060, Gujarat, India
  • Phone: 079-66111150
  • E-mail: cs.compliance@ashapura.in

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue From Operations (in ₹ lakh) 19,900.91 22,181.65 22,696.53
Profit After Tax (PAT) (in ₹ lakh) 1,235.71 944.49 781.56
Cash & Cash Equivalents (in ₹ lakh) 565.82 152.85 97.21
Net Worth (in ₹ lakh) 6,532.31 4,796.60 3,852.04
Debt to Equity Ratio (x) 0.63z 0.73 1.11
Return on Equity (%) 21.82% 21.84% 22.61%
Return on Capital Employed (RoCE) (%) 20.69% 18.68% 18.49%
Earning Per Share (EPS)-in absolute ₹ 12.90 9.87 8.17

Know before investing

Strengths

6

  1. Extensive logistics operations with a pan-India network of nine branches.

  2. Asset-based model with 250 commercial trucks and 60 containers.

  3. Technology-enabled operations for efficient, customised logistics solutions.

  4. Strong client relationships, serving 560 customers in FY 2024.

  5. Diverse service offerings: cargo handling, transportation, warehousing, distribution.

  6. Over 20 years of experience in logistics and supply chain.

Risks

6

  1. Risk of non-renewal of required licenses affecting business operations.

  2. Dependence on regulatory approvals may delay business activities.

  3. Reliance on related party for custom clearance raises conflict concerns.

  4. Director's past disqualification may impact the company's reputation.

  5. Inability to trace historical secretarial records may cause compliance issues.

  6. Outstanding legal proceedings may impact financial condition and reputation.

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Ashapura Logistics IPO FAQs

What is Ashapura Logistics IPO?

Ashapura Logistics Limited IPO is a book built IPO. The IPO will be open from July 30, 2024, to August 1, 2024.

When will the Ashapura Logistics IPO be allotted?

The Basis of Allotment will happen on Friday, August 2, 2024.

When will the Ashapura Logistics IPO open for subscription?

The IPO subscription window will open on July 30, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,000  shares.

When will Ashapura Logistics list on exchanges?

The listing date for Ashapura Logistics is Tuesday, August 6, 2024.

What would be the listing gains on the Ashapura Logistics IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Ashapura Logistics IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Ashapura Logistics IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Ashapura Logistics using one PAN?

You can submit only one application using your PAN card.