Tejas Cargo India Ltd
Tejas Cargo India Ltd, a logistics company based in Faridabad, Haryana, has announced its Initial Public Offering (IPO) to raise capital for purchasing additional trailers, meeting working capital requirements, repaying certain borrowings, and general corporate purposes. The IPO is scheduled to open on February 14, 2025, and close on February 18, 2025.
Company Overview
Established in Faridabad, Haryana, Tejas Cargo India Ltd specializes in providing long-haul supply chain transportation services by road across India. The company offers express supply chain transportation services under Full Truck Load (FTL) to a diverse range of industries, including logistics, steel and cement, e-commerce, industrial and chemicals, FMCG, and white goods sectors. As of September 30, 2024, Tejas Cargo completed over 58,943 trips on a pan-India basis, with more than 61% of these trips conducted using its own fleet. The company’s services encompass shipment planning, route optimization, fleet selection, documentation, tracking, communication, coordination, and performance evaluation.
IPO Timeline
- Issue Open Date: February 14, 2025
- Issue Close Date: February 18, 2025
- Allotment Finalization: February 19, 2025
- Refund Initiation: February 20, 2025
- Shares Credited to Demat Accounts: February 20, 2025
- Listing Date: February 21, 2025
Price Band and Lot Size
- Price Band: ₹160 to ₹168 per equity share
- Face Value: ₹10 per share
- Lot Size: 800 shares
- Minimum Investment: ₹128,000
Investors can bid for a minimum of 800 equity shares and in multiples thereof.
Financials
The company’s financial performance over the past three fiscal years is as follows:
| Fiscal Year Ended | Revenue (₹ Crores) | Net Profit (₹ Crores) |
|---|---|---|
| March 31, 2022 | 209.29 | 3.16 |
| March 31, 2023 | 381.79 | 9.86 |
| March 31, 2024 | 419.33 | 13.22 |
This data indicates significant growth in both revenue and net profit over the three-year period.
Strengths
- Extensive Fleet: As of October 31, 2024, Tejas Cargo operates a fleet of 1,131 vehicles, including 218 trailers and 913 container trucks, with capacities up to 42 tonnes.
- Diverse Clientele: Serves a wide range of industries, reducing dependence on any single sector.
- Comprehensive Services: Offers end-to-end logistics solutions, including planning, optimization, and performance evaluation.
Risks
- High Capital Expenditure: The logistics industry requires significant investment in fleet maintenance and expansion.
- Operational Challenges: Managing a large fleet across a vast geography can lead to logistical complexities.
- Market Competition: Faces competition from other established logistics providers in the region.
IPO Anchor Investors Details
As of now, specific details regarding anchor investors for Tejas Cargo India Ltd’s IPO have not been disclosed.
IPO Promoter Holding
The promoters of the company are Mr. Chander Bindal and Mr. Manish Bindal. Their collective shareholding details prior to and post-IPO have not been specified.
IPO Grey Market Premium (GMP)
As of February 12, 2025, there is no available information regarding the Grey Market Premium for Tejas Cargo India Ltd’s IPO.
Final Thoughts
Tejas Cargo India Ltd’s IPO offers investors an opportunity to invest in a rapidly growing logistics company with a diverse client base and comprehensive service offerings. The company’s significant fleet size and extensive industry reach are notable strengths. However, potential investors should consider the risks associated with high capital expenditures and operational challenges inherent in the logistics sector. Conducting thorough due diligence is recommended before making investment decisions.