Tejas Cargo India Limited IPO (Tejas Cargo IPO) Detail

Tejas Cargo IPO is a book built issue of Rs 105.84 crores. The issue is entirely a fresh issue of 63.00 lakh shares.

Tejas Cargo IPO bidding started from February 14, 2025 and ended on February 18, 2025. The allotment for Tejas Cargo IPO was finalized on Wednesday, February 19, 2025. The shares got listed on NSE SME on February 24, 2025.

Tejas Cargo IPO price band is set at ₹168 per share. The minimum lot size for an application is 800. The minimum amount of investment required by retail investors is ₹1,28,000. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹1,34,400. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹2,68,800.

New Berry Capitals Private Limited is the book-running lead manager of the Tejas Cargo IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.The market maker for Tejas Cargo IPO is New Berry Capitals Private Limited.

Refer to Tejas Cargo IPO RHP for detailed information.

Tejas Cargo IPO Details

Tejas Cargo IPO Reservation

Tejas Cargo IPO offers 63,00,000 shares. 11,84,800 (18.81%) to QIB, 8,88,800 (14.11%) to NII, 20,72,800 (32.9%) to RII and 17,75,200 (28.18%) to Anchor investors.

Category Reservation Detail Table

• Employee limit: Up to Rs 2 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)
• If applying as RII: Upto Rs. 2 lakhs
• If applying as NII: Above Rs. 2 lakhs

Tejas Cargo IPO Anchor Investors Details

Tejas Cargo IPO raises Rs 29.82 crore from anchor investors. Tejas Cargo IPO Anchor bid date is February 13, 2025. Tejas Cargo IPO Anchor Investors list

Tejas Cargo IPO Timeline (Tentative Schedule)

Tejas Cargo IPO opens on February 14, 2025, and closes on February 18, 2025.

Tejas Cargo IPO Lot Size

Investors can bid for a minimum of 800 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Tejas Cargo IPO Promoter Holding

Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue

About Tejas Cargo India Limited

Incorporated in March 2021, Tejas Cargo India Limited is a logistics company located in Faridabad, Haryana, that provides supply chain transportation services by road throughout India.

The company provides express road transportation services under Full Truck Load (FTL) to various sectors, including logistics, steel, e-commerce, FMCG, and white goods.

As of October 30, 2024, the fleet includes 913 container trucks and 218 trailers, averaging 3.4 and 0.7 years old, respectively.

As of October 31, 2024, the company has a fleet of 1,131 vehicles: 218 trailers and 913 container trucks, measuring 32 to 40 feet and with a capacity of up to 42 tonnes.

As of September 30, 2024, the company has completed over and 58,943 trips and 98,913 trips during Fiscal 2024.

The company operates nationwide through twenty-three branches for placements, loading, and unloading.

The company has a workforce of 284 employees as of September 30, 2024.

Competitive Strength

• In-House Maintenance and Direct Procurement
• Leveraging modern technology to operate and monitor its fleet.
• Heavy Asset Ownership Model
• Diversified client base and revenue sources
• Experienced and motivated management team
• Track record of growth and robust financial position.

Company Financials

Tejas Cargo India Limited Financial Information (Restated Consolidated)

Key Performance Indicator (KPI)

The market capitalization of Tejas Cargo IPO is Rs 401.40 Cr.

KPI as of Mon, Mar 31, 2025.

• The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
• The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.

Objects of the Issue (Tejas Cargo IPO Objectives)

The company intend to utilize the proceeds of the Issue to meet the following objects:

1. Purchase of additional trailers for the Company;
2. To meet working capital requirements;
3. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company; and
4. General Corporate Purposes;

Tejas Cargo IPO Review (Avoid)

[Dilip Davda]  TCIL is engaged in providing 3PL logistics as well as FTL Services. It is operating in a highly competitive and fragmented segment. The company marked growth in its top lines for the reported periods. The boost in bottom lines from FY23 onwards raises eyebrows. Based on recent financial performance, the issue appears aggressively priced. There is no harm in skipping this pricey bet that can be termed as “High Risk/Low Return” offer. Read detail review…

Tejas Cargo IPO Subscription Status (Bidding Detail)

The Tejas Cargo IPO is subscribed 1.15 times on February 18, 2025 6:19:59 PM (Day 3). The public issue subscribed 1.09 times in the retail category, 1.33 times in the QIB category, and 1.07 times in the NII category. Check Day by Day Subscription Details (Live Status)

Total Application : 2,906

*Market Maker portion is not included to NII/HNI.

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