Dhillon Freight Carrier Lists at ₹57.60, Slips 20% Below Issue Price on BSE SME Debut

Kolkata, October 7, 2025: Dhillon Freight Carrier Limited IPO had a subdued listing on the BSE SME (Small and Medium Enterprises) stock exchange, with the share price starting at ₹57.60, which is 20% lower than the issue price of ₹72. The stock price also continued to fall during the first trade, trading at a low of ₹54.72 with a cumulative decline of 24% below the IPO price. The company was also facing a setback, with a market capitalization of ₹21.45 crore, a VWAP of ₹56.16, and a turnover of ₹7.18 lakh.

Established in 2014, with its head office in Kolkata, Dhillon Freight Carrier Limited is an integrated logistics company offering parcel/LTL delivery, contract logistics, and fleet rentals. The company serves both B2C and B2B customers through 22 regional offices and a fleet of 62 vehicles, operating across Bihar, West Bengal, Delhi, and Uttar Pradesh.

Dhillon Freight Carrier IPO Subscription Performance

The firm’s ₹10.08 crore IPO received strong investor support between September 29 and October 1, 2025. The issue was subscribed to 2.82 times in total, led primarily by high retail interest. The segment of retail investors was oversubscribed 4.87 times, whereas non-institutional investors subscribed 1.07 times the amount made available. Qualified institutional buyers did not subscribe to the issue. The IPO was fixed at ₹72 with a minimum bid of 1,600 shares, and allotments were done on October 3, 2025.

Dhillon Freight Carrier IPO Fund Utilization

IPO proceeds will be used to fund the acquisition and manufacture of 24 new goods-carrying vehicles. This strategic move will help divert the business away from third-party carriers, improving operational efficiency and thereby enhancing margins and service reliability.

Dhillon Freight Carrier Market Reaction And Investor Sentiment

Despite strong subscription figures, investor sentiment on listing day was weak, which is likely due to market volatility and the tendency of SME stockholders to profit-take. The poor debut indicates a conservative investor attitude towards newly listed logistics companies.

Outlook

Though the stock started on a weak note, Dhillon Freight Carrier’s long-term prospects depend on its ability to ramp up its operations, upgrade its fleet, and consolidate its position in India’s major logistics corridors.

REF: https://www.bseindia.com/stock-share-price/dhillon-freight-carrier-ltd/dhillon/544556/

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