IPO Details
Bidding Dates
30 Jul 24 - 01 Aug 24
Price Range ₹
136 - 144
Total Equity
₹ 52.66Cr
Lot Size
1000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
30 Jul 2024
Offer end
01 Aug 2024
Allotment
02 Aug 2024
Refund initiation
05 Aug 2024
Demat transfer
05 Aug 2024
Listing
06 Aug 2024
Offer start
30 Jul 2024
Offer end
01 Aug 2024
Allotment
02 Aug 2024
Refund initiation
05 Aug 2024
Demat transfer
05 Aug 2024
Listing
06 Aug 2024
About Company
Incorporated in 2009, Ashapura Logistics Limited is an Indian logistics company specializing in: - Cargo handling and freight forwarding - Transportation services, including project logistics and third-party logistics (3PL) - Warehousing and distribution - Coastal movement and other related services The company distinguishes itself through its nationwide presence, broad service offerings, focus on integrating technology to enhance services, and extensive vehicle fleet network. Ashapura Logistics is ISO 9001:2015 certified for a range of services, including customs clearance, freight forwarding, supply chain management, warehousing, distribution, surface transportation, cargo handling, and 3PL services. The freight forwarding team operates from Ahmedabad and has branches at major sea ports such as Hazira, Mundra, Pipavav, Kandla, JNPT, and other inland container depots (ICDs). They offer freight forwarding and Customs House Agent (CHA) services to their clients. As of March 31, 2024, the company’s fleet includes 250 commercial trucks, with 181 owned by its subsidiary and 69 directly owned by the company. As of July 2024, Ashapura Logistics manages and operates 7 warehouses with a total storage capacity of approximately 284,000 square feet. As of June 30, 2024, the company employs over 219 people, with more than 111 working in Operations and Transportation.
Year Founded
02-04-2002
Promotor Details
Sujith Chandrasekhar Kurup
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 92.45 | 67.51 |
| Share Capital | 9151922 | 9151922 |
Offer to Public
36,57,000.00 Cr
Highlights
- The company operates seven strategically located warehouses across major Indian states, ensuring broad geographic coverage and efficient logistics management.
- Ashapura Logistics has shown a steady increase in profit after tax, with PAT rising from Rs 7.88 crore in FY22 to Rs 12.35 crore in FY24, reflecting strong financial performance.
- Serving a broad range of industries including automobiles, textiles, and steel, and including prominent clients like Ford India and Piramal Glass, demonstrates the company’s ability to cater to various sectors and build reputable relationships.
- The company’s certification across multiple services, including customs clearance and supply chain management, underscores its commitment to quality and operational excellence.
- The development of the IMPEX software to enhance operational efficiency and the provision of customized solutions tailored to specific industry needs highlight the company’s focus on leveraging technology for competitive advantage.
Challenges
- The company is currently involved in legal proceedings related to one of its directors. An unfavorable judgment in these proceedings could have a negative impact on the company's business operations.
- Ashapura Logistics relies heavily on container traffic at key ports such as Mundra, Hazira, and JN Port. A decline in traffic, slower-than-expected growth, or disruptions at these ports could adversely affect the company's operations.
- A significant portion of the company's revenue comes from Gujarat. Any adverse developments in this state could negatively impact the company's business performance.
- Sujith Chandrasekhar Kurup, a director of the company, was disqualified under Section 164 of the Companies Act, 2013, due to issues with Ansen & Kurupsen Logistics & Transportation Services Private Limited, which failed to file annual returns and financial statements for three consecutive years.
- As of March 31, 2024, Ashapura Logistics reported total indebtedness of Rs 41.47 crore, including short-term and long-term borrowings. Any difficulty in servicing or repaying these debts could negatively impact the company's financial health and operational stability.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2024 | 10,397.79 | 989.91 | 705.24 | 705.24 | 7.1243 |
| 2023 | 8,430.99 | 36.80 | 728.47 | 728.47 | 7.6136 |
