Tejas Cargo India Limited's IPO: A New Chapter in Logistics Innovation

Tejas Cargo India Limited is launching its first IPO with a price band of ₹160 to ₹168 per share. The ₹31.76 crore proceeds will support trailer purchases, working capital, and debt repayment. The logistics company operates nationwide, utilizing advanced IoT technology for efficient fleet management. Revenue rose by 9.83% last year.

Tejas Cargo India Limited is setting a new milestone with its maiden initial public offering (IPO), offering shares at a price band of ₹160 to ₹168 each. This fresh issuance of 63 lakh equity shares comes with no offer-for-sale component, promising growth and expansion within the logistics sector.

The funds raised, estimated at ₹31.76 crore, are earmarked for purchasing additional trailers, meeting working capital needs, and settling part of existing debts. With a fleet base boasting 1,131 IoT-equipped vehicles, including 218 trailers, Tejas Cargo showcases its commitment to integrating technology for enhanced tracking and operational efficiency.

Having reported a revenue climb of 9.83% for the fiscal year ending March 31, 2024, the logistics firm continues to exhibit strong financial health. The public issue is being managed by New Berry Capitals Private Limited and the shares are poised to list on NSE's SME platform, marking an exciting chapter for the company.

(With inputs from agencies.)