IPO Details
Bidding Dates
14 Feb 25 - 18 Feb 25
Price Range ₹
160 - 168
Total Equity
₹ 105.84Cr
Lot Size
800
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
14 Feb 2025
Offer end
18 Feb 2025
Allotment
19 Feb 2025
Refund initiation
20 Feb 2025
Demat transfer
20 Feb 2025
Listing
24 Feb 2025
Offer start
14 Feb 2025
Offer end
18 Feb 2025
Allotment
19 Feb 2025
Refund initiation
20 Feb 2025
Demat transfer
20 Feb 2025
Listing
24 Feb 2025
About Company
Tejas Cargo India Limited, incorporated in March 2021, is a logistics company based in Faridabad, Haryana, offering road-based supply chain transportation services across India. The company specializes in express road transportation under the Full Truck Load (FTL) model, catering to industries such as logistics, steel, e-commerce, FMCG, and white goods. As of October 30, 2024, its fleet consists of 913 container trucks and 218 trailers, with an average age of 3.4 and 0.7 years, respectively. By October 31, 2024, the company’s total fleet had grown to 1,131 vehicles, comprising 218 trailers and 913 container trucks, ranging from 32 to 40 feet in length and with a capacity of up to 42 tonnes. As of September 30, 2024, Tejas Cargo India Limited has successfully completed over 58,943 trips and 98,913 trips during Fiscal 2024. The company operates nationwide through 23 branches, facilitating vehicle placements, loading, and unloading operations. As of September 30, 2024, the company employs a workforce of 284 employees.
Year Founded
21-03-2021
Promotor Details
Chander Bindal
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 73.63 |
| Share Capital | 17592840 | 17592840 |
Offer to Public
63,00,000.00 Cr
Project Details
- General Corporate Purposes - 214.7cr
- Purchase of additional trailers - 317.63cr
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company - 150cr
- To meet working capital requirements - 300cr
Objectives
- Purchase of additional trailers
- To meet working capital requirements
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company
- andGeneral Corporate Purposes
Highlights
- The company operates a fleet of 1,131 vehicles, including 218 trailers and 913 container trucks, enabling it to handle a wide range of logistics requirements efficiently.
- Integration of IoT-based solutions such as Geo-Fencing, Centralised Digital Locking, GPS tracking, and AI-powered rear cameras enhances fleet security, monitoring, and operational efficiency.
- A dedicated maintenance facility in Sidhrawali, Haryana, with 12 repair bays and additional centers in Bhiwandi, Kolkata, and Jaipur ensures smooth fleet operations and minimal downtime.
- Holding a Petroleum and Explosives Safety Organisation (PESO) license for petroleum storage and operating a petrol dispensing station in Rewari, Haryana, demonstrates adherence to safety and regulatory standards.
- The company has shown consistent revenue and profit growth, with revenue increasing from Rs 209.29 crore in FY22 to Rs 419.33 crore in FY24 and PAT rising from Rs 3.15 crore to Rs 13.22 crore during the same period.
Challenges
- The company’s revenue is heavily reliant on industries such as logistics, steel, cement, e-commerce, FMCG, and chemicals, making it vulnerable to downturns or shifts in supply chain strategies.
- Ongoing legal proceedings involving the company, its subsidiaries, promoters, and directors pose potential financial and reputational risks if adverse judgments occur.
- The company does not directly employ truck drivers but hires them on an ad-hoc basis, which could lead to operational challenges if there is a shortage of skilled and experienced drivers.
- With an outstanding financial indebtedness of Rs 204.99 crore as of September 30, 2024, any difficulty in servicing or repaying loans could impact the company’s financial stability and growth.
- Fuel costs make up a significant portion of operating expenses (ranging from 40.30% to 50.18% in recent years). Any sharp increase in fuel prices due to geopolitical or supply chain disruptions could erode profit margins.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2024 | 23,600.07 | 24.43 | 1,322.22 | 1,322.22 | 7.5171 |
