Ashapura Logistics Ltd

Ashapura Logistics Ltd IPO

IPO Price Range: ₹136 - 144

Ashapura Logistics Limited is an integrated logistics company in India, primarily operating in (i) Cargo handling and freight forwarding segment; (ii) Transportation (including project logistics and third-party logistics (3PL)); (iii) Warehousing and Distribution and (iv) other services (including coastal movement). The Company has pan-India operations through its network of 9 (Nine) branch offices as at the Date of Draft Red Herring Prospectus.With over 20 (Twenty) years of its operational experience since inception, the company provides differentiated logistics solutions with its: (a) pan-India presence, (b) integrated service offerings, (c) focus on improving service through technology, and (d) large network of vehicle fleet. The management has focused on providing quality services to its customers over decades of operations and thereby building credibility with its customer base, including its longstanding customers. The company is benefited from the extensive experience of its promoter Mr. Sujith Chandrasekhar Kurup, who is associated with the company since its incorporation and having experience of more than 25 (Twenty-Five) years in the Logistic Industry. Its Board of Directors, Key Managerial Personnel and Senior Management Personnel has also provided significant contribution in the growth of the company.

Min Investment

₹1,44,000

IPO Size

₹52 Cr

IPO Status

Closed

Quantity in 1 Lot

1000

Max Bid allowed

1

Listing Exchange

NSE

IPO Application Timeline of Ashapura Logistics Ltd

Open Date30 Jul 2024
Close Date1 Aug 2024
Allotment Date2 Aug 2024
Listing Date6 Aug 2024

Key Statistics

Bid Opening DateBid Opening Date30 Jul 2024
Bid Closing DateBid Closing Date1 Aug 2024
Allotment DateAllotment Date2 Aug 2024
Issue SizeIssue Size₹52.66Cr
Quantity in 1 lotQuantity in 1 lot1000

Strength and risks

Strength

Strength

  • Scaled and integrated logistics operations.

  • Asset-based business model resulting into higher efficiencies.

  • Optimal Utilization of Resources.

  • Long-standing relationships with its clients.


Risk

Risk

  • In case of its inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business it may have a material adverse effect on the companys business.

  • At present, the Company has applied for certain licenses and approvals and some of the approvals are yet to be applied. Its business requires it to obtain and renew certain registrations, licenses and permits from government and regulatory authorities and the failure to obtain and renew them in a timely manner may adversely affect its business operations and some of the approvals are required to be transferred in the name of Ashapura Logistics Limited.

  • The company had over the years make arrangements with M/s. Transmarine Corporations (Partnership firm of its promoter/Related Party) to undertake the custom clearance.

  • One of its Directors Sujith Chandrasekhar Kurup was disqualified under section 164 of the Companies Act, 2013, in the past for being director of M/s. Ansen & Kurupsen Logistics & Transportation Services Private Limited, which failed to file its Annual returns and Financial statements for a continuous period of 3 years.

  • The Company is unable to trace certain filings pertaining to historical secretarial information, minutes of board and shareholders meetings, copies of share transfer forms and certain records from the statutory registers.

  • There are outstanding legal proceedings involving the Company and one of its Directors. Any adverse outcome in such proceedings may have an adverse impact on its reputation, business, financial condition, results of operations and cash flows.

  • There are certain non-compliances noticed in some of its secretarial reporting and/or records relating to filing of returns.

  • Any Penalty or demand raised by statutory authorities in future may adversely affect its financial position of the Company.

  • There are certain discrepancies and non- compliances noticed in some of its financial reporting and/or records relating to filing of returns and deposit of statutory dues with the taxation and other statutory authorities.

  • Its Promoters and Directors have provided personal guarantees for financing facilities availed by the Company and may in the future provide additional guarantees and any failures or default by the Company to repay such facilities in accordance with the terms and conditions of the financing agreements could trigger repayment obligations on them, which may impact their ability to effectively service their obligations as its Promoters and Directors and thereby, adversely impact its business and operations.

Promoters Holding

Investors Holdings %
Sujith Chandrasekhar Kurup25.21%
Chitra Sujit Kurup67.24%

About Ashapura Logistics Ltd

OrganisationAshapura Logistics Ltd
HeadquartersAhmedabad
IndustryLogistics

Frequently Asked Questions

  • What is the size of the Ashapura Logistics Ltd IPO?

    The size of the Ashapura Logistics Ltd IPO is ₹52.66Cr .

  • What is 'pre-apply' for Ashapura Logistics Ltd IPO?

    'Pre-apply' for Ashapura Logistics Ltd IPO indicates your interest in the IPO before it opens for subscription. This ensures quick application when the IPO goes live.

  • When will my Ashapura Logistics Ltd IPO order be placed?

    Your Ashapura Logistics Ltd IPO order will be placed on 30 Jul 2024.

  • What are the open and close dates of the Ashapura Logistics Ltd IPO?

    The open and close dates of the Ashapura Logistics Ltd IPO are 30 Jul 2024 to 1 Aug 2024.

  • What is the lot size and minimum order quantity of the Ashapura Logistics Ltd IPO?

    The lot size and minimum order quantity of the Ashapura Logistics Ltd IPO are 1000 and 1000 respectively.

  • What would be the listing gains on the Ashapura Logistics Ltd IPO?

    The potential listing gains on the Ashapura Logistics Ltd IPO will depend on various market factors and cannot be predicted with certainty.