Jayesh Logistics Announces Rs 28.63 Crore IPO with Price Band of Rs 116-122
Kolkata-based Jayesh Logistics is launching its IPO with a price band of Rs 116-122 per share, aiming to raise Rs 28.63 crore. The issue opens from October 27 to October 29, 2023, with listing scheduled for November 3 on NSE Emerge. The company, specializing in cross-border logistics in the Indo-Nepal corridor, plans to use the funds for purchasing equipment, expanding infrastructure, and meeting working capital needs. Jayesh Logistics reported strong financials with Q1 FY2024 revenue of Rs 25.20 crore and PAT of Rs 2.02 crore.
*this image is generated using AI for illustrative purposes only.
Kolkata-based logistics firm Jayesh Logistics is set to enter the public market with its initial public offering (IPO) of Rs 28.63 crore. The company has announced a price band of Rs 116-122 per equity share for its upcoming issue. Here are the key details of the IPO:
IPO Details
| Particulars | Details |
|---|---|
| Issue Size | Rs 28.63 crore |
| Price Band | Rs 116 - Rs 122 per share |
| Face Value | Rs 10 per share |
| Lot Size | 1,000 shares |
| Issue Type | Fresh Issue of 23.47 lakh equity shares |
| Subscription Period | October 27 - October 29, 2023 |
| Anchor Investor Bidding | October 24, 2023 |
| Tentative Listing Date | November 3, 2023 |
| Listing Venue | NSE Emerge (SME Platform) |
| Book Running Lead Manager | Indcap Advisors |
About Jayesh Logistics
Founded in 2011, Jayesh Logistics operates in the logistics and supply chain management sector. The company offers a range of services including:
- Freight transportation
- Truck forwarding
- Customs clearance
- Heavy machinery on hire
Jayesh Logistics specializes in cross-border cargo movements across the Indo-Nepal Corridor, positioning itself as a key player in this niche market.
Financial Performance
The company has demonstrated strong financial performance in recent periods:
| Period | Revenue | Profit After Tax (PAT) |
|---|---|---|
| Q1 FY2024 (Apr-Jun) | Rs 25.20 crore | Rs 2.02 crore |
| FY2023 | Rs 111.88 crore | Rs 7.20 crore |
Utilization of IPO Proceeds
The funds raised through this IPO will be allocated towards:
- Purchase of side wall trailers
- Expansion of warehousing and smart logistics infrastructure
- Meeting working capital requirements
- General corporate purposes
This strategic allocation aims to strengthen the company's operational capabilities and support its growth initiatives in the competitive logistics sector.
Market Outlook
The logistics industry in India is experiencing significant growth, driven by increasing cross-border trade and the government's focus on improving infrastructure. Jayesh Logistics' specialization in the Indo-Nepal corridor positions it well to capitalize on these opportunities.
Investors interested in the SME segment and the logistics sector may find this IPO an opportunity to participate in India's growing cross-border trade story. However, as with all investments, it's crucial to conduct thorough research and consider one's risk appetite before making investment decisions.
The success of Jayesh Logistics' IPO could provide insights into investor appetite for SME stocks in the logistics sector, potentially paving the way for more companies in this space to access public markets for funding their growth plans.
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