Overview
Updated 12 days agoApana Logistics Limited is an integrated logistics company providing container handling and transportation services, including reach stacker operations and truck-trailer management. The company operates a hybrid model, leveraging both owned and third-party assets to serve major CFS, ICD, and port operators in India.
The red bar is the price band. GMP-implied price is an unofficial grey-market number, not a forecast.
How much to apply
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,20,000 |
| bNII (min) | 9 | 18,000 | ₹10,80,000 |
At the upper band. The amount is blocked in your bank account through UPI, not paid, until allotment.
Final subscription
As of 31 Oct, 16:42 ISTTimes the shares on offer were bid for, by investor category. Above 1x means the category is fully booked.
Listing performance
Latest price updated 5 hr ago.
Issue details
| Status | Listed |
| Exchange | BSE |
| Segment | SME |
| Sector | Logistics |
| Price band | ₹60 |
| Final issue price | ₹60.00 |
| Face value | ₹10 per share |
| Lot size | 2,000 shares |
| Minimum investment | ₹1,20,000 |
| Issue size | ₹34.00 Cr |
| Market cap at upper band | ₹105 Cr |
| P/E at upper band | 22.8x |
| Registrar | KFIN TECHNOLOGIES LIMITED |
| Lead managers | Corporate Makers Capital Limited |
| NSE symbol | APANA |
| ISIN | INE1ET101019 |
Shareholder quota and promoter holding
Company & business
Apana Logistics Limited, originally incorporated in 1992 as Surya Top Sale Private Limited, is a logistics solutions provider based in Kolkata. The company specializes in container handling at CFS, ICD, and ports, as well as road transportation and cargo handling at third-party warehouses. It operates a fleet of reach stackers and truck-trailers to support its logistics operations. The company has a long-standing presence in the industry and serves major operators in the logistics sector across various Indian states.
Objects of the issue — how the money will be used
- Funding capital expenditure requirement of our company towards purchase of reach stackers (“Vehicles”) (₹25 Cr)
- General Corporate Purpose
Key strengths
- Diverse service offering and customer base
- Ability to participate in tenders
- Assured quality services
- Track record of growth and profitability
- Promoters experience and track record
Key risks
- High customer concentration with dependence on a limited number of key customers
- Dependence on network partners, third-party service providers, and vendors
- Inability to trace some historical corporate records
- Significant portion of revenue from related parties
- Geographical concentration of business in specific regions
- Dependence on functioning of vehicles and material handling equipment
- Significant working capital requirements
- No registered Intellectual Property Rights in company name
Promoters
Mr. Pratyaksh Sureka
Decoded from the DRHP with AI on 01-Nov-2026. Check the offer document before you apply.
Financials (restated, ₹ crore)
| Period | Revenue | Expenses | Profit after tax | Assets | Net worth | Borrowings |
|---|---|---|---|---|---|---|
| FY23 | 27.14 | -- | 1.30 | 15.07 | 8.87 | 0.79 |
| FY24 | 20.10 | -- | 3.00 | 25.56 | 11.87 | 6.82 |
| FY25 | 21.44 | -- | 3.11 | 29.42 | 14.41 | 6.16 |
Key performance indicators · FY25
Peers & valuation
Listed peers as chosen by the issuer in the offer document (Basis for Issue Price).
| Company | Revenue (₹ Cr) | EPS (₹) | P/E | RoNW % | NAV (₹) |
|---|---|---|---|---|---|
| Apana Logistics this issue | 21.4 | 2.63 | 22.8x | 23.64 | 12.19 |
| Premiere Roadlines Limited | 288.3 | 7.09 | 12.1 | 23.08 | 38.96 |
| VRL Logistics Limited | 3,161.0 | 20.91 | 21.1 | 17.40 | 123.99 |
This issue is priced at 22.8x P/E against a peer median of 16.6x: a premium of 38%. A measurement, not a verdict.
Other Logistics IPOs
Same sector, listed just before and after this one, with their listing-day change.
Pooja LogisticsPOOJALOGIS · NSE · SME · Logistics+7.7%30 Sep
Skyways Air Services LimitedSKYWAYS · BSE, NSE · Mainboard · Logistics−9.0%1 Sep
ShiprocketSHIPROCKET · BSE, NSE · Mainboard · Logistics+47.9%19 Aug
Leap IndiaLEAP · BSE, NSE · Mainboard · Logistics−8.8%14 Aug Documents and resources
Offer documents and the issuer, exchange, registrar and SEBI pages for this issue.