Tejas Cargo IPO listed at ₹175 on the NSE SME platform on February 24, marking a 4.17% premium over its issue price of ₹168. The company’s strong debut reflects investor confidence in its growth potential. Despite a last reported GMP of ₹0, the stock debuted above expectations, marking a positive listing.
Tejas Cargo IPO was subscribed 1.15x overall, with Retail Investors at 1.09x, NIIs at 1.07x, and QIBs at 1.33x. Anchor Investors and Market Makers fully subscribed. The IPO received 2,906 applications, including 48 from NIIs and 2 from QIBs, bidding for 48.46 lakh shares worth ₹81.42 crore.
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Details About Tejas Cargo IPO
Tejas Cargo’s ₹105.84 crore IPO includes a fresh issue of 63 lakh shares, priced between ₹160-₹168 per share. The minimum lot size is 800 shares, requiring a retail investment of ₹1,28,000. The allotment is expected on February 19, 2025, with listing on NSE SME on February 24, 2025. In FY 2024, the company reported ₹422.59 crore in revenue and ₹13.22 crore in profit, making it a potential long-term investment.
- QIBs: 50%
- Retail Investors: 35%
- HNIs: 15%
Tejas Cargo IPO Financial Performance
As of September 30, 2024, Tejas Cargo reported total assets of ₹294.29 crore, revenue of ₹255.09 crore, and a profit after tax of ₹8.75 crore. Its net worth stood at ₹63.16 crore, with reserves & surplus at ₹46.60 crore. For the full fiscal year ending March 31, 2024, the company recorded ₹422.59 crore in revenue and ₹13.22 crore in profit, reflecting strong financial growth.
Tejas Cargo IPO Funds Deployment
- Purchase of additional trailers.
- Allocation for working capital requirements.
- Repayment/pre-payment of certain borrowings.
- General corporate purposes.
About Company
Tejas Cargo India Limited, established in March 2021 and based in Faridabad, Haryana, is a logistics company specializing in nationwide supply chain transportation services. It primarily operates Full Truck Load (FTL) express road transport for industries like logistics, steel, e-commerce, FMCG, and white goods.
As of October 2024, the company manages a fleet of 1,131 vehicles, including 913 container trucks and 218 trailers, ensuring efficient cargo movement. With 23 operational branches and a dedicated workforce of 284 employees, Tejas Cargo leverages advanced technology and an in-house maintenance model to enhance efficiency. Its diversified client base, experienced management, and strong financials position it as a growing player in the logistics sector.