Driving Growth: Tejas Cargo’s IPO and Expansion Plans

Tejas Cargo India Limited is launching an IPO with a price band of ₹160-₹168 per share, offering 63 million new equity shares. The funds will be utilized for fleet expansion, working capital, debt repayment, and corporate purposes. The company, which specializes in long haul transportation, boasts a fleet of 1,131 vehicles.

Tejas Cargo India Limited is set to launch its initial public offering, pricing shares between ₹160 and ₹168 each. The IPO is a fresh issue of 63 million equity shares, focusing on expanding and strengthening the company's operations.

Proceeds from this public offer will be strategically used to enhance Tejas Cargo's fleet by purchasing additional trailers and addressing working capital needs. A portion of the funds will also go toward repaying borrowings as well as general corporate purposes.

The company, an eminent player in the supply chain transportation sector, operates with an extensive fleet of 1,131 vehicles. Equipped with advanced IoT solutions, their transportation services contributed significantly to a revenue increase to ₹419.33 crore for the financial year ending March 2024.

(With inputs from agencies.)