Ashapura Logistics IPO is a book built issue of Rs 52.66 crores. The issue is entirely a fresh issue of 36.57 lakh shares.
Ashapura Logistics IPO opens for subscription on July 30, 2024 and closes on August 1, 2024. The allotment for the Ashapura Logistics IPO is expected to be finalized on Friday, August 2, 2024. Ashapura Logistics IPO will list on NSE SME with tentative listing date fixed as Tuesday, August 6, 2024.
Ashapura Logistics IPO price band is set at ₹136 to ₹144 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹288,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Ashapura Logistics IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Ashapura Logistics IPO is Spread X Securities.
Refer to Ashapura Logistics IPO RHP for detailed information.
Ashapura Logistics IPO Details
| IPO Date | July 30, 2024 to August 1, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹136 to ₹144 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 3,657,000 shares (aggregating up to ₹52.66 Cr) |
| Fresh Issue | 3,657,000 shares (aggregating up to ₹52.66 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,899,121 |
| Share holding post issue | 13,556,121 |
| Market Maker portion | 183,000 shares Spread X Securities |
Ashapura Logistics IPO Reservation
Ashapura Logistics IPO offers 3,657,000 shares. 696,000 (19.03%) to QIB, 522,000 (14.27%) to NII, 1,216,000 (33.25%) to RII and 1,040,000 (28.44%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,040,000 (28.44%) |
| Market Maker Shares Offered | 183,000 (5.00%) |
| QIB Shares Offered | 696,000 (19.03%) |
| NII (HNI) Shares Offered | 522,000 (14.27%) |
| Retail Shares Offered | 1,216,000 (33.25%) |
| Total Shares Offered | 3,657,000 (100%) |
Ashapura Logistics IPO Anchor Investors Details
Ashapura Logistics IPO raises Rs 14.98 crore from anchor investors. Ashapura Logistics IPO Anchor bid date is July 29, 2024. Ashapura Logistics IPO Anchor Investors list
| Bid Date | July 29, 2024 |
| Shares Offered | 1,040,000 |
| Anchor Portion Size (In Cr.) | 14.98 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | October 31, 2024 |
Ashapura Logistics IPO Timeline (Tentative Schedule)
Ashapura Logistics IPO opens on July 30, 2024, and closes on August 1, 2024.
| IPO Open Date | Tuesday, July 30, 2024 |
| IPO Close Date | Thursday, August 1, 2024 |
| Basis of Allotment | Friday, August 2, 2024 |
| Initiation of Refunds | Monday, August 5, 2024 |
| Credit of Shares to Demat | Monday, August 5, 2024 |
| Listing Date | Tuesday, August 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 1, 2024 |
Ashapura Logistics IPO Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹144,000 |
| Retail (Max) | 1 | 1000 | ₹144,000 |
| HNI (Min) | 2 | 2,000 | ₹288,000 |
| Lot Size Calculator | |||
Ashapura Logistics IPO Promoter Holding
The Promoters of the company are Mr. Sujith Chandrasekhar Kurup and Mrs. Chitra Sujith Kurup.
| Share Holding Pre Issue | 92.45% |
| Share Holding Post Issue | 67.51% |
About Ashapura Logistics Limited
Incorporated in 2009, Ashapura Logistics Limited is an Indian logistics company. They specialize in
- Handling cargo and forwarding freight
- Transportation, including project logistics and third-party logistics (“3PL”)
- Warehousing and distribution
- Other services, including coastal movement.
The company offers unique logistics solutions through its: (a) nationwide presence, (b) comprehensive service offerings, (c) emphasis on enhancing service with technology, and (d) extensive vehicle fleet network.
The company is certified with ISO 9001:2015 for providing customs clearance, freight forwarding, supply chain management, warehousing, distribution, surface transportation, cargo handling, and 3PL services.
The freight forwarding team is based in Ahmedabad, with branches at sea ports like Hazira, Mundra, Pipavav, Kandla, JNPT, and other ICDs. They provide freight forwarding and CHA services to existing customers.
As of March 31, 2024, the company has 250 commercial trucks in its fleet, with 181 owned by the subsidiary and 69 owned directly by the company.
As of July 2024, the company manages and operates 7 warehouses with a total storage capacity of approximately 284,000 square feet.
As of June 30, 2024, Ashapura Logistics Limited employed over 219 people, including more than 111 in Operations and Transportation.
Ashapura Logistics Limited Financial Information (Restated Consolidated)
Ashapura Logistics Limited’s revenue decreased by -10.45% and profit after tax (PAT) rose by 30.46% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 12,644.88 | 10,461.66 | 11,568.76 |
| Revenue | 19,934.57 | 22,260.31 | 22,713.84 |
| Profit After Tax | 1,235.44 | 946.98 | 788.26 |
| Net Worth | 6,532.31 | 4,796.60 | 3,852.04 |
| Reserves and Surplus | 5,542.40 | 4,759.80 | 3,815.32 |
| Total Borrowing | 12.90 | 9.87 | 8.17 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
The market capitalization of Ashapura Logistics IPO is Rs 195.21 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 21.82% |
| ROCE | 20.69% |
| Debt/Equity | 0.63 |
| RoNW | 18.92% |
| P/BV | 2.18 |
| PAT Margin (%) | 4.86 |
Check Ashapura Logistics IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 12.48 | 9.11 |
| P/E (x) | 11.54 | 15.8 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
Objects of the Issue (Ashapura Logistics IPO Objectives)
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
- The company’s funding capital expenditure requirement is for the purchase of trucks (” Vehicles”) and ancillary equipment (“Equipment”).
- Construction of warehouses at the facilities located at Mundra, Gujarat
- Funding the incremental working capital requirement of our company
- General Corporate Purposes
Ashapura Logistics IPO Review (Apply)
[Dilip Davda] The company is an integrated logistics company providing all related services under one roof. It posted declining trends in top lines but marked growth in its bottom lines for the reported period. Based on FY24 earnings, the issue appears reasonably priced. Investors may park funds for the medium to long term. Read detail review…
Ashapura Logistics IPO Subscription Status (Bidding Detail)
The Ashapura Logistics IPO is subscribed 2.48 times on July 30, 2024 3:37:03 PM (Day 1). The public issue subscribed 3.82 times in the retail category, 1.00 times in the QIB category, and 1.32 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.00 | 6,96,000 | 6,96,000 |
| NII* | 1.32 | 5,22,000 | 6,89,000 |
| Retail | 3.82 | 12,16,000 | 46,45,000 |
| Total | 2.48 | 24,34,000 | 60,30,000 |
Total Application : 4,645
*Market Maker portion is not included to NII/HNI.
Ashapura Logistics IPO Prospectus
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Ashapura Logistics Limited Contact Details
Ashapura Logistics Limited
B-902 Shapath Hexa
Opp. High Court, S.G. Highway
Sola, Ahmedabad- 380060,
Phone: 079-66111150
Email: cs.compliance@ashapura.in
Website: https://ashapura.in/
Ashapura Logistics IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: all.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/