Tejas Cargo India IPO Closed
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Schedule of Tejas Cargo India
| Issue open date | 14 Feb 2025 |
| Issue close date | 18 Feb 2025 |
| UPI mandate deadline | 18 Feb 2025 (5 PM) |
| Allotment finalization | 20 Feb 2025 |
| Refund initiation | 21 Feb 2025 |
| Share credit | 21 Feb 2025 |
| Listing date | 24 Feb 2025 |
| Mandate end date | 05 Mar 2025 |
| Lock-in end date for anchor investors (50%) | 21 Mar 2025 |
| Lock-in end date for anchor investors (remaining) | 20 May 2025 |
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 Tejas Cargo India
Tejas Cargo India, a Faridabad-based logistics company, specializes in long-haul supply chain transportation across India via road. It provides express supply chain transportation under Full Truck Load (FTL) for industries including logistics, steel, cement, e-commerce, industrial chemicals, FMCG, and white goods. As of September 30, 2024, over 61% of trips were conducted using owned fleets, with the remainder hired on an ad-hoc basis. Technology-driven logistics solutions optimize operations and reduce contingencies. In Fiscal 2024, 98,913 trips were completed, with 58,943 trips in the first six months of the fiscal year. Long-haul transportation accounts for more than 98% of revenue, covering shipment planning, route optimization, fleet selection, documentation, tracking, communication, and performance evaluation. As of October 31, 2024, the fleet includes 1,131 vehicles—218 trailers and 913 container trucks—ranging from 32 to 40 feet with a capacity of up to 42 tonnes. Among them, 292 vehicles, including 34 trailers and 258 container trucks, are debt-free.
Financials of Tejas Cargo India
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹105.84 crores |
| Fresh Issue | ₹105.84 crores |
| Offer for Sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital Expenditure | 31.76 (30%) |
| Working capital requirements | 30 (28.34%) |
| Debt reduction | 15(14.17%) |
| General corporate purposes | TBA |
Strengths
- Heavy asset ownership model ensures control over fleet and operations.
- Leveraging modern technology to track and optimize logistics operations.
- In-house maintenance facilities reduce breakdowns and improve fleet uptime.
- Diversified client base and revenue sources enhance business resilience.
- Proven track record of growth with strong financial position.
- Experienced and motivated management team drives operational efficiency.
- Expansion into warehousing improves supply chain efficiency and scalability.
Risks
- Ongoing litigation may lead to financial liabilities and reputational damage.
- Dependence on road networks can cause delivery delays and inefficiencies.
- Heavy reliance on a few suppliers affects business stability.
- Lack of credit ratings could impact borrowing costs significantly.
- Rising fuel costs could reduce profitability and operational margins.
- Inflation and economic slowdown may hurt revenue and growth.
- Disruptions due to calamities could severely impact logistics operations.
Allotment Status for Tejas Cargo India
To check your allotment status – click here.
Subscription Figures for Tejas Cargo India
Subscription numbers as of 5:00 PM on 18 Feb 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 11.84 | 15.78 | 1.33x |
| HNI (₹2L+) | 8.88 | 9.52 | 1.07x |
| Retail (upto ₹2L) | 20.72 | 22.68 | 1.09x |
| Total | 42.09 | 48.46 | 1.15x |