Ashapura Logistics IPO will open for subscription from 30 July 2024. The company aims for an issue size of ₹52.66 Cr through this IPO.
Company Overview
| Full name | Ashapura Logistics Limited |
| Sector | Logistics |
| Industry | Logistics |
| Company Website | https://ashapura.in/ |
About Company
Ashapura Logistics is an integrated logistics company in India, primarily operating in four segments: (i) Cargo handling and freight forwarding; (ii) Transportation, including project logistics and third-party logistics (3PL); (iii) Warehousing and Distribution; and (iv) other services, including coastal movement. The company has a pan-India presence with a network of nine branch offices as of April 2024.
The company offers differentiated logistics solutions through (a) its nationwide presence, (b) integrated service offerings, (c) its emphasis on enhancing service with technology, and (d) its extensive network of vehicle fleets. Some of its prominent customers include Ford India, Piramal Glass, TT Steel Services, Atul Limited, and JK Paper. As of 30 June 2024, the company has 219 employees on its payroll.
As of 31 March 2024, Ashapura Logistics maintains an owned fleet of 250 commercial trucks, including 181 trucks from its material subsidiary, Jai Ambe, and 69 trucks owned directly by the company. Additionally, the company owns 60 containers of 40 TEUs, providing an advantage in its cargo handling business. The warehouse distribution network consists of seven warehouses located across India, strategically situated in Gujarat, Maharashtra, Karnataka, and Tamil Nadu.
The Objectives of the Issue
- 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 Timetable
| IPO Opening date | 30 July 2024 |
| IPO Closing | 01 August 2024 |
| Basis of Allotment | 02 August 2024 |
| Initiation Refund | 05 August 2024 |
| Credit to Demat Account | 05 August 2024 |
| Listing Date | 06 August 2024 |
Ashapura Logistics IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹52.66 Cr – 3,657,000 shares |
| Fresh Issue | ₹52.66 Cr – 3,657,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹136 to ₹144 per share |
| Lot size | 1000 Shares |
| Market Maker portion | 183,000 shares |
| Shareholding pre-issue | 9,899,121 |
| Shareholding post-issue | 13,556,121 |
| Listing Exchange | NSE SME |
Ashapura Logistics IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹144,000 |
| Retail (Max) | 1 | 1000 | ₹144,000 |
| HNI (Min) | 2 | 2,000 | ₹288,000 |
Ashapura Logistics Offer Documents
Ashapura Logistics IPO Reservation Details
| 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 Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 226.97 | 221.82 | 199.01 |
| Expenses | 216.90 | 209.99 | 182.72 |
| Net income | 7.88 | 9.47 | 12.35 |
Ashapura Logistics Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 8.17 | 9.87 | 12.90 |
| PE ratio | – | – | 10.54 – 11.16 |
| RONW (%) | 20.29 | 19.69 | 18.92 |
| NAV | 40.26 | 50.13 | 65.99 |
| ROCE (%) | 18.49 | 18.68 | 20.69 |
| EBITDA (%) | 9.22 | 10.00 | 13.17 |
| Debt/Equity | 1.11 | 0.73 | 0.63 |
Company Promoters
- Mr. Sujith Chandrasekhar Kurup
- Mrs. Chitra Sujith Kurup.
Promoter Holding
| Pre Issue Share Holding | 92.45% |
| Post Issue Share Holding | 67.51% |
Ashapura Logistics Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 5 August 2024 | 110 | – | 90,000 |
| 3 August 2024 | 115 | – | 92,700 |
| 2 August 2024 | 125 | – | 1,02,000 |
| 1 August 2024 | 125 | – | 1,02,000 |
| 31 July 2024 | 85 | – | 67,000 |
| 30 July 2024 | 50 | – | 41,000 |
| 29 July 2024 | 50 | – | 41,000 |
| 27 July 2024 | 32 | – | 22,500 |
| 26 July 2024 | 30 | – | 21,000 |
Ashapura Logistics IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 6,96,000 | 5,22,000 | 12,16,000 | 24,34,000 |
| 1 Aug 2024 | 128.23 | 289.44 | 168.12 | 182.73 |
| 31 Jul 2024 | 2.70 | 10.06 | 25.98 | 15.91 |
| 30 Jul 2024 | 1.50 | 1.92 | 5.78 | 3.73 |
Ashapura Logistics IPO Allotment Status
Ashapura Logistics IPO allotment status is now available on the KFin Tech website. Click on this link to get allotment status.
Ashapura Logistics IPO Listing Details
| Listing Date | 06 August 2024 |
| BSE Scrip Code | |
| NSE Symbol | ASHALOG |
| ISIN | INE0LAA01017 |
| Final Issue Price | ₹144 per share |
Ashapura Logistics IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹144.00 |
| Open | ₹185.00 |
| Low | ₹175.75 |
| High | ₹194.25 |
| Last Trade | ₹175.75 |
Ashapura Logistics IPO Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
B 1311-1314, Thirteenth Floor, Shilp Corporate Park,
Rajpath Rangoli Road, Thaltej, Ahmedabad- 380054
Phone: 079 4918 5784
Email: mb@beelinemb.com
Website: www.beelinemb.com
Ashapura Logistics IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: 91 40 6716 2222
E-mail: all.ipo@kfintech.com
Website: www.kfintech.com
Ashapura Logistics Contact Details
ASHAPURA LOGISTICS LIMITED
B-902 Shapath Hexa, Opp. High Court,
S.G. Highway, Sola, Ahmedabad- 380060
Phone: 079-66111150
E-mail: cs.compliance@ashapura.in
Website: www.ashapura.in
Ashapura Logistics IPO FAQs
What is the Ashapura Logistics Issue size?
Ashapura Logistics offer size is INR 49.74 – 52.66 crores.
What is the Ashapura Logistics IPO price band?
Ashapura Logistics public offer price is INR 136 – 144 per share.
What is the lot size of the Ashapura Logistics Offer?
Ashapura Logistics offer lot size is 1,000 shares.
What is Ashapura Logistics IPO GMP today?
Ashapura Logistics IPO GMP today is ₹ 110 per share.
What is the Ashapura Logistics kostak rate today?
Ashapura Logistics kostak rate today is ₹ NA per application.
What is Ashapura Logistics Subject to the Sauda rate today?
Ashapura Logistics is Subject to the Sauda rate today is ₹ 90,000 per application.
Final thoughts
Ashapura Logistics IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
