ASHAPURA LOGISTICS IPO OPENS ON 30th July, 2024
Ashapura Logistics is an integrated logistics company in India, primarily operating in Cargo handling and freight forwarding segment, Transportation (including project logistics and third-party logistics. Warehousing and Distribution and other services (including coastal movement). The company has pan-India operations through their network of 9 branch offices. Ashapura logistics is entering the equity market and has announced an Initial Public Offer to open on 30thJuly, 2024.
IPO Information: ANCHOR INVESTOR BIDDING DATE - On Monday, July 29, 2024 Issue opens on: Tuesday, 30 th July 2024 Issue closes on- Thursday, 1st August 2024 Issue Size- Rs.52.66cr Issue Price-Rs. 136-144 Face Value-₹ 10/- Issue Type- 100% Book Built No. of Shares- 36,57,000 Equity shares Lot Size-1000 Equity Shares Anchor Quota- 10,40,000 Equity Shares HNI Quota- not less than 5,22,000 Equity Shares Retail Quota- Not less than 12,16,000 Equity Shares QIB Quota- Not more than 6,96,000 Equity Shares Market Maker Quota-1,83,000 Equity Shares Listing On -NSE EMERGE The issue proceeds will be utilized towards the following objects: 1. Funding capital expenditure requirement of the company towards purchase of trucks and Ancillary equipment.
2. Construction of warehouses facilities located at Mundra, Gujarat 3. Funding the incremental working capital requirement of the company 4. General Corporate Purpose With over 20 years of operational experience since inception, the company provides differentiated logistics solutions with its pan-India presence, integrated service offerings, focus on improving service through technology, and large network of vehicle fleet. It relies on an ‘asset-based’ business model wherein the assets necessary for quality services to its customers, such as commercial vehicles, containers and warehouses, are either owned or provided by a network of its business partners on lease basis. Accordingly, the Company has maintained its owned fleet of vehicle along with network of business partners from whom they hire the required vehicles on need basis. Further, its material subsidiary, Jai Ambe Transmovers Private Limited is also engaged in the business of transportation services, having large fleet of owned commercial vehicles. As on March 31, 2024, the company maintained owned fleet of 250 of commercial trucks. It also owns 60 containers of 40 TEUs providing edge in their cargo handling business. The warehouse distribution network comprises of 7 warehouses across India situated at prompt locations such as Gujarat, Maharashtra, Karnataka and Tamilnadu.
The company recorded a revenue of Rs. 199.35 Crs. with a profit after tax of Rs. 12.35 Crs In the financial year 2023-24, compared to revenue of Rs. 222. 60 Crs. with a profit after tax of Rs.9.47 Crs.in the financial year 2023.
For more information, please visit www.ashapura.in (Disclaimer : The above Press Release is provided by HT Syndication and PTI will not take any editorial responsibility of this content.). PTI PWR PWR
