Ashapura Logistics to Launch IPO on July 30, 2024

Ashapura Logistics, a prominent player in cargo handling and freight forwarding, is set to launch its IPO on July 30, 2024. The issue aims to raise Rs. 52.66 crore, with plans to fund capital expenditure, construct warehouses, and improve working capital. The company operates pan-India with a substantial fleet and warehousing network.

Ashapura Logistics, a key player in the cargo handling and freight forwarding business, is set to enter the equity market with an Initial Public Offer (IPO) opening on July 30, 2024. The company, which operates across India through nine branch offices, aims to raise Rs. 52.66 crore through this issue.

The IPO details include an anchor investor bidding date on July 29, 2024, and is set to close on August 1, 2024. The issue price ranges from Rs. 136-144 per share with a lot size of 1,000 equity shares. The raised funds will be utilized for capital expenditure on trucks and ancillary equipment, construction of warehouses in Mundra, Gujarat, incremental working capital requirements, and general corporate purposes.

With over 20 years of operational experience, Ashapura Logistics provides comprehensive logistics solutions through its extensive network of commercial vehicles and warehouses. As of March 2024, the company maintains a fleet of 250 commercial trucks, 60 containers, and seven warehouses, recording a revenue of Rs. 199.35 crore with a profit after tax of Rs. 12.35 crore in the financial year 2023-24.