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Ashapura Logistics Limited IPO of Rs 52.66 crores (Ashapura Logistics IPO) Detail

The issue is entirely a fresh issue of 36.57 lakh shares.Ashapura Logistics IPO is a book built issue of Rs 52.66 crores.

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.

About Ashapura Logistics Limited

Incorporated in 2009, Ashapura Logistics Limited is an Indian logistics company. They specialize in

  1. Handling cargo and forwarding freight
  2. Transportation, including project logistics and third-party logistics (“3PL”)
  3. Warehousing and distribution
  4. 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.

Refer to Ashapura Logistics IPO RHP for detailed information.

Ashapura Logistics IPO Details

IPO DateJuly 30, 2024 to August 1, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹136 to ₹144 per share
Lot Size1000 Shares
Total Issue Size3,657,000 shares(aggregating up to ₹52.66 Cr)
Fresh Issue3,657,000 shares(aggregating up to ₹52.66 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue9,899,121
Share holding post issue13,556,121
Market Maker portion183,000 shares

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 CategoryShares Offered
Anchor Investor Shares Offered1,040,000 (28.44%)
Market Maker Shares Offered183,000 (5.00%)
QIB Shares Offered696,000 (19.03%)
NII (HNI) Shares Offered522,000 (14.27%)
Retail Shares Offered1,216,000 (33.25%)
Total Shares Offered3,657,000 (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 DateJuly 29, 2024
Shares Offered1,040,000
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 DateTuesday, July 30, 2024
IPO Close DateThursday, August 1, 2024
Basis of AllotmentFriday, August 2, 2024
Initiation of RefundsMonday, August 5, 2024
Credit of Shares to DematMonday, August 5, 2024
Listing DateTuesday, August 6, 2024
Cut-off time for UPI mandate confirmation5 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.

ApplicationLotsSharesAmountApplicationLotsSharesAmountApplicationLotsSharesAmount
Retail (Min)11000₹144,000Retail (Min)11000₹144,000Retail (Min)11000₹144,000
Retail (Max)11000₹144,000Retail (Max)11000₹144,000Retail (Max)11000₹144,000
HNI (Min)22,000₹288,000HNI (Min)22,000₹288,000HNI (Min)22,000₹288,000

Ashapura Logistics IPO Promoter Holding

The Promoters of the company are Mr. Sujith Chandrasekhar Kurup and Mrs. Chitra Sujith Kurup.

Share Holding Pre Issue92.45%
Share Holding Post Issue67.51%

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 Ended31 Mar 202431 Mar 202331 Mar 2022
Assets12,644.8810,461.6611,568.76
Revenue19,934.5722,260.3122,713.84
Profit After Tax1,235.44946.98788.26
Net Worth6,532.314,796.603,852.04
Reserves and Surplus5,542.404,759.803,815.32
Total Borrowing12.909.878.17

Key Performance Indicator

The market capitalization of Ashapura Logistics IPO is Rs 195.21 Cr.

KPI as of March 31, 2024.
KPIValues
ROE21.82%
ROCE20.69%
Debt/Equity0.63
RoNW18.92%
P/BV2.18
PAT Margin (%)4.86
Pre IPOPost IPO
EPS (Rs)12.489.11
P/E (x)11.5415.8

Note:

Objects of the Issue (Ashapura Logistics IPO Objectives)

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:

  1. The company’s funding capital expenditure requirement is for 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 our company
  4. General Corporate Purposes

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
Websitehttps://ashapura.in/

 

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