Apana Logistics IPO

Incorporated in 1992, Apana Logistics Limited provides logistics support for container handling and transportation. Its services include container handling at Container Freight Stations, Inland Container Depots and ports, road transportation, cargo handling at third-party warehouses, and repair, operation and maintenance of truck-trailers. The company serves leading CFS, ICD and port operators in India. As of 31 August 2025, it owned and maintained 33 truck-trailers and five reach stackers. Apana Logistics serves more than 10 customers, including customers with relationships extending beyond a decade, and had 85 permanent employees as of 31 August 2025.

Apana Logistics Limited IPO Overview

Apana Logistics Limited is launching a fixed-price SME IPO of 56.90 lakh shares aggregating to ₹34.14 crore. The IPO will open for subscription on 7 September 2026 and close on 9 September 2026, with the allotment expected on 10 September 2026. Refunds and credit of shares to demat accounts are scheduled for 11 September 2026, while the shares are proposed to list on BSE SME on 15 September 2026. The issue price is fixed at ₹60 per share, with a lot size of 2,000 shares. The minimum retail application comprises two lots, or 4,000 shares, requiring an investment of ₹2.40 lakh. The issue consists entirely of a fresh issue. Of the total issue, 2.90 lakh shares are reserved for the market maker, while 54 lakh shares constitute the net public issue. Corporate Makers Capital Limited is the book running lead manager and KFin Technologies Limited is the registrar.

Apana Logistics Limited IPO Details

Particulars	Details
IPO Date	7 September 2026 to 9 September 2026
Listing Date	15 September 2026
Face Value	₹10 per share
Issue Price	₹60 per share
Lot Size	2,000 Shares
Total Issue Size	56,90,000 shares (aggregating up to ₹34.14 Cr)
Fresh Issue	56,90,000 shares (aggregating up to ₹34.14 Cr)
Offer for Sale	NA
Issue Type	Fixed Price IPO
Listing At	BSE SME
Share Holding Pre Issue	1,18,20,000 shares
Share Holding Post Issue	1,75,10,000 shares
Market Maker Portion	2,90,000 shares

Apana Logistics Limited IPO Reservation

Investor Category	Shares Offered
Retail	50% of the Net Issue
NII (HNI)	50% of the Net Issue

Apana Logistics Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	4,000	₹2,40,000
Retail (Max)	2	4,000	₹2,40,000
HNI (Min)	3	6,000	₹3,60,000

Apana Logistics Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	100.00%
Post-Issue	67.50%

Apana Logistics Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	₹4.96
Price/Earnings (P/E) Ratio	12.10x
Return on Net Worth (RoNW)	33.82%
Net Asset Value (NAV)	₹17.15
Return on Equity	23.64%
Return on Capital Employed (ROCE)	26.57%
EBITDA Margin	28.70%
PAT Margin	14.49%
Debt to Equity Ratio	0.56

Objectives of the Proceeds

1. Purchase of reach stackers: ₹25 crore is proposed to fund capital expenditure for purchasing additional reach stackers.

2. General corporate purposes: The remaining net proceeds are proposed to support the company’s general corporate requirements.

Key Financials (in ₹ crore)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	29.42	25.56	15.07
Total Income	21.61	20.33	27.28
Profit After Tax	3.17	3.00	1.30
Reserves and Surplus	2.65	9.90	6.90
Total Borrowings	8.00	9.26	1.77

IPO Strengths

1. Diverse service offering and customer base.

2. Ability to participate in tenders.

3. Assured quality services.

5. Track record of growth and profitability.

6. Promoters experience and track record.

Peer Group Comparison

Company Name	EPS (Basic)	NAV (₹)	P/E (x)	RoNW (%)	P/BV Ratio
Apana Logistics	4.96	17.15	12.10	33.82	3.53
Peer Group
Premier Roadlines	5.97	44.93	6.97	14.23	0.93
VRL Logistics	13.54	65.31	22.15	21.27	4.60