Ashapura Logistics to enter equity market with IPO on 30th July, 2024
Ashapura Logistics, an integrated logistics company in India, has announced its Initial Public Offer (IPO) set to open on 30th July 2024. The IPO will offer 36,57,000 equity shares, aiming to raise ₹52.66 crore with an issue price ranging from ₹136 to ₹144 per share.
The IPO details include:
- Anchor Investor Bidding Date: Monday, 29th July 2024
- Issue Opens: Tuesday, 30th July 2024
- Issue Closes: Thursday, 1st August 2024
- Face Value: ₹10 per share
- Issue Type: 100 percent Book Built
- Lot Size: 1000 Equity Shares
- Anchor Quota: 10,40,000 Equity Shares
- HNI Quota: Not less than 5,22,000 Equity Shares
- Retail Quota: Not less than 12,16,000 Equity Shares
- QIB Quota: Not more than 6,96,000 Equity Shares
- Market Maker Quota: 1,83,000 Equity Shares
- Listing On: NSE EMERGE
The proceeds will be used for:
- Funding capital expenditure for purchasing trucks and ancillary equipment.
- Constructing warehouse facilities in Mundra, Gujarat.
- Meeting incremental working capital requirements.
- General corporate purposes.
With over 20 years of operational experience, Ashapura Logistics provides comprehensive logistics solutions across India. The company employs an asset-based business model, owning commercial vehicles, containers, and warehouses, supplemented by leased assets from business partners. As of March 31, 2024, the company owns 250 commercial trucks and 60 containers of 40 TEUs. Its warehouse network includes seven facilities in Gujarat, Maharashtra, Karnataka, and Tamil Nadu.
