Schedule of Ashapura Logistics
| Issue open date | 30 Jul 2024 |
| Issue close date | 01 Aug 2024 |
| UPI mandate deadline | 01 Aug 2024 (5 PM) |
| Allotment finalization | 02 Aug 2024 |
| Refund initiation | 05 Aug 2024 |
| Share credit | 05 Aug 2024 |
| Listing date | 06 Aug 2024 |
| Mandate end date | 16 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 02 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 31 Oct 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Ashapura Logistics
Ashapura Logistics Limited’s IPO is scheduled to open on July 30, 2024, and will close on August 1, 2024. Founded as ‘Ashapura Forwarders Private Limited’ on April 2, 2002, they specialize in cargo handling and freight forwarding, transportation (including project and third-party logistics), warehousing and distribution, and coastal movement.
The company has a network of 9 branch offices across India and over 20 years of operational experience. As of March 31, 2024, it operates 250 commercial trucks and manages 7 warehouses with a total storage capacity of approximately 284,000 square feet. Additionally, the company is ISO 9001:2015 certified.
Financials of Ashapura Logistics
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹52.66 crores |
| Fresh issue | ₹52.66 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Purchase of vehicles and equipment | 15.02 (28.52%) |
| Construction of warehouses at Mundra, Gujarat | 16.40 (31.14%) |
| Working capital requirements | 6.00 (11.39%) |
*All figures except EPS are in ₹ crores
Strengths
- Integrated logistics operations: Operates across multiple logistics segments, including cargo handling, transportation, and warehousing, with a network of nine branch offices.
- Asset-based business model: Maintains a fleet of commercial vehicles and containers, providing high-quality services through owned and leased assets.
- Optimal utilization of resources: Continuously improves execution processes, capabilities, and skills, focusing on resource utilization and modernization.
- Long-standing client relationships: Strong relationships with clients across various industries, delivering customized logistics solutions and maintaining trust through timely and quality service.
Risks
- Regional revenue concentration: The company generates a significant portion of its revenue from the state of Gujarat. Adverse developments in this region could significantly affect the business and financial performance.
- Dependency on transportation infrastructure: The company’s logistics and cargo handling operations depend on reliable transportation networks. Any inadequacies in infrastructure could adversely impact business and financial conditions.
- Dependency on container traffic: The company’s operations are heavily reliant on container traffic at major ports. Any decline in traffic or disruptions at these ports can adversely affect business performance.
- Licensing and approvals: The company requires several licenses and permits, some of which are still pending or need to be renewed. Failure to obtain or renew these on time may impact operations.