Pooja Logistics IPO Day 2: Subscribed 0.47x; Retail leads at 0.76x
- Pooja Logistics IPO subscribed 0.47x cumulatively by Day 2 close.
- Retail investors led demand with a 0.76x subscription rate.
- QIB category remained unsubscribed at 0.00x throughout the period.
- bHNI demand surged to 0.51x, while sHNI stood at 0.26x.
- Issue closes on 2026-09-25 with allotment on 2026-09-28.
*this image is generated using AI for illustrative purposes only.
Pooja Logistics IPO closed at 2.92 times overall subscription on Day 3, marking a significant surge from earlier days. Qualified Institutional Buyers (QIBs) entered aggressively in the final hours, while Non-Institutional Investors (NII) led the demand with the bigger HNI category subscribing 5.52 times.
Subscription Status
The issue saw a steady buildup of interest over the first two days but experienced a massive acceleration on the final day. Total subscription rose from 0.34x on Day 1 to 0.47x on Day 2, before jumping to 2.92x by the close of Day 3. The most significant shift occurred in the last hour of trading, where QIBs entered aggressively and HNI bids spiked.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 23-09-2026 | 0.00x | 0.09x | 0.35x | 0.57x | 0.34x |
| Day 2 | 24-09-2026 | 0.00x | 0.26x | 0.51x | 0.76x | 0.47x |
| Day 3 | 25-09-2026 | 2.50x | 5.52x | 3.58x | 2.46x | 2.92x |
Category-wise Breakdown
Non-Institutional Investors (NII) led the demand on the final day. The bigger HNI category (bHNI) subscribed 5.52 times, showing a massive jump from previous days. Smaller HNIs (sHNI) followed with a subscription rate of 3.58 times. Retail investors also showed strong appetite, subscribing 2.46 times. A key development was the late entry of Qualified Institutional Buyers (QIBs), which subscribed 2.50 times after showing zero interest in the first two days. The Employee quota remained low at 0.43 times.
Intra-day Timeline
Demand for Pooja Logistics IPO picked up pace during the trading hours on Day 2. Retail subscription jumped 22.6% from 0.62x at 11:15 IST to 0.76x by 17:15 IST. Similarly, bHNI demand rose 73.3% during the same window, moving from 0.15x to 0.26x before settling at 0.51x in the final count. The total subscription crossed the 0.40x mark towards the end of the session.
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.00x | 0.15x | 0.62x | 0.37x |
| 12:15 | 0.00x | 0.17x | 0.64x | 0.38x |
| 13:15 | 0.00x | 0.17x | 0.66x | 0.39x |
| 14:15 | 0.00x | 0.17x | 0.69x | 0.41x |
| 15:15 | 0.00x | 0.22x | 0.71x | 0.42x |
| 16:15 | 0.00x | 0.26x | 0.74x | 0.44x |
| 17:15 | 0.00x | 0.26x | 0.76x | 0.47x |
Offer Details
The Pooja Logistics IPO opened for subscription on September 23, 2026, and closed on September 25, 2026. The price band was set between ₹109.00000 and ₹115.00000 per share, with a minimum bid quantity of 2400 shares.
| Parameter | Details |
|---|---|
| Price Band | ₹109.00000 - ₹115.00000 |
| Issue Size | 392400 - 500000 |
| Min Bid Qty | 2400 |
| Open Date | 2026-09-23 |
| Close Date | 2026-09-25 |
About the Company
Pooja Logistics Limited, incorporated in 2011, provides temperature-controlled logistics services for perishable goods across India. The company operates a GPS-enabled refrigerated truck fleet of over 424 vehicles, serving clients in confectionery, dairy, quick-service restaurants (QSRs), pharmaceuticals, and e-commerce sectors. Led by Promoter and Managing Director Mr. Deepak Khanna, who has over 14 years of industry experience, the company operates across more than 26 states.
Financial Highlights
The company has shown steady growth in revenue and profitability over the last three fiscal years.
| Particulars (₹ crore) | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue from Operations | 165.70 | 148.77 | 123.75 |
| Total Revenue | 167.77 | 150.49 | 125.14 |
| Profit Before Tax | 16.33 | 14.64 | 7.55 |
| Net Profit | 12.34 | 11.02 | 5.73 |
Objects of the Issue
- Purchase of Vehicles: Expand the existing fleet by adding 92 new refrigerated vehicles to meet rising demand and reduce dependence on hired vehicles.
- General Corporate Purpose: Deploy a portion of proceeds towards general corporate purposes, strategic alliances, and growth opportunities.
- Public Issue Expenses: Meet expenses related to underwriting, management fees, printing, distribution, advertisement, legal fees, and listing fees.
What's Next
Allotment is scheduled for September 28, 2026, with listing expected on September 30, 2026.
How might the complete absence of QIB interest impact the stock's price stability and liquidity upon its scheduled listing on September 30?
Given the significant customer concentration risk, how could the company mitigate revenue volatility if top clients reduce their reliance on its services post-IPO?
Will the pending GST contingent liabilities of ₹2,700 lakhs influence institutional investors' willingness to take positions in the stock after the initial listing?
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