Dhillon Freight Carrier IPO

₹1,15,200/1600 shares

Minimum Investment

IPO Details

Open Date

29 Sep 25

Close Date

01 Oct 25

Minimum Investment

₹1,15,200

Lot Size

1600

Price Range

₹72 to ₹72

Listing Exchange

BSE

Issue Size

₹10.08 Cr

Listing Date

07 Oct 25

Open Free Demat Account

Dhillon Freight Carrier IPO Timeline

Bidding Start

29 Sep 25

Bidding Ends

01 Oct 25

Allotment Finalisation

03 Oct 25

Refund Initiation

06 Oct 25

Demat Transfer

06 Oct 25

Listing

07 Oct 25

Dhillon Freight Carrier Limited

Dhillon Freight Carrier Limited provides comprehensive logistics solutions, focusing primarily on road transportation. The company specialises in parcel and less-than-truckload (LTL) services, contract logistics, and fleet rental or leasing for various industries. Serving both B2B and B2C clients across West Bengal, Bihar, Delhi, and Uttar Pradesh, it ensures efficient goods movement. The company operates an in-house fleet of 62 vehicles and maintains a wide operational network, including 22 booking offices, pickup facilities, warehouses, delivery offices, and affiliated agencies, supporting seamless logistics across multiple regions.

Dhillon Freight Carrier Limited IPO Overview

Dhillon Freight Carrier Limited’s IPO is a fixed price issue aggregating ₹10.08 crore, entirely through a fresh issue of 0.14 crore shares. The IPO opens for subscription on 29 September 2025 and closes on 1 October 2025, with allotment expected to be finalised on 3 October 2025. It is set to list on BSE SME, tentatively on 7 October 2025. Priced at ₹72 per share, the IPO has a lot size of 1,600 shares. Retail investors must invest a minimum of ₹2,30,400 (3,200 shares), while HNI investors require a minimum of 3 lots (4,800 shares), amounting to ₹3,45,600. Finshore Management Services Ltd. is the book running lead manager, Kfin Technologies Ltd. is the registrar, and Anant Securities is the market maker.

Dhillon Freight Carrier Limited IPO Details

Particulars	Details
IPO Date	29 September 2025 to 1 October 2025
Listing Date	7 October 2025 (Tentative)
Face Value	₹10 per share
Issue Price	₹72 per share
Lot Size	1,600 shares
Total Issue Size	14,00,000 shares (₹10.08 Cr)
Fresh Issue	14,00,000 shares (₹10.08 Cr)
Offer for Sale	NA
Issue Type	Fixed Price IPO
Listing At	BSE SME
Share Holding Pre Issue	25,20,000 shares
Share Holding Post Issue	39,20,000 shares
Market Maker Portion	70,400 shares

Dhillon Freight Carrier IPO Reservation

Investor Category	Shares Offered
Market Maker	70,400 shares (5.03%)
NII (HNI)	6,65,600 shares (47.54%)
Retail	6,64,000 shares (47.43%)

Dhillon Freight Carrier IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,30,400
Retail (Max)	2	3,200	₹2,30,400
HNI (Min)	3	4,800	₹3,45,600

Dhillon Freight Carrier IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	100%
Post-Issue	64.29%

Objectives of the Proceeds

Purchase of goods transportation vehicles and fabrication: ₹7.67 Cr

General corporate expenses: ₹1.09 Cr

Key Financials (in ₹ Crore)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	9.71	9.16	6.78
Revenue	25.22	24.73	29.91
Profit After Tax	1.73	1.09	0.36
Reserves and Surplus	2.71	0.98	1.33
Total Borrowings	3.34	4.80	4.39

Dhillon Freight Carrier IPO Valuation Overview

KPI	Value
EPS	6.86 (Pre IPO), 4.41 (Post IPO)
Price/Earnings (P/E) Ratio	10.49 (Pre IPO), 16.32 (Post IPO)
Return on Net Worth (RoNW)	33.09%
Return on Equity (ROE)	39.65%
Return on Capital Employed (ROCE)	31.77%
EBITDA Margin	14.84%
PAT Margin	6.99%
Debt to Equity Ratio	0.64
Price to Book Value	3.47

SWOT Analysis of Dhillon Freight Carrier IPO

Strength and Opportunities

Diversified logistics services across multiple sectors
Modern fleet including electric three-wheelers
Strong customer base and repeat business
Established network of 22 offices and warehouses
Experienced management team
Expanding logistics demand in e-commerce and B2B markets

Risks and Threats

Operations limited to four Indian states
High dependency on road transport infrastructure
Capital-intensive nature of fleet expansion
Competitive pressure from unlisted regional carriers
Regulatory changes in transportation industry
Fuel price volatility impacting operational costs

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About Dhillon Freight Carrier Limited

Dhillon Freight Carrier IPO Strengths

Diversified logistics services across parcel/LTL, contract logistics, and fleet leasing.

Established customer base across multiple industries with consistent repeat business.

In-house fleet of 62 vehicles, including modern electric three-wheelers.

Experienced management team with domain expertise in road transportation.

Extensive network of 22 offices, warehouses, and pickup/delivery points.

Growth potential due to rising demand in e-commerce and B2B logistics.

Dhillon Freight Carrier IPO Peer Comparison (As of 31 March 2025)

Company Name	EPS (Basic)	NAV (per share) (₹)	P/E (x)	RoNW (%)	P/BV Ratio
Dhillon Freight Carrier Limited	6.86	20.75	10.49	33.09	3.60
Peer Group
Orissa Bengal Carrier Limited	0.51	42.95	110.86	1.19	1.33
GB Logistics Commerce Limited	5.87	53.39	8.36	8.24	0.92

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