Tejas Cargo India Ltd. was established on March 26, 2021. The company provides express road transportation services under Full Truck Load (FTL) to various industries, including logistics, steel, cement, e-commerce, and FMCG, using technology-driven solutions for efficiency
| Bidding Dates |
|---|
| 14 Feb 2025 - 18 Feb 2025 |
| Subscription |
|---|
| 1.14x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,28,000 | 1 | 1 | 800 | 6.3 M | ₹160 - ₹168 | 73.63 % | ₹1008.0 M - ₹1058.4 M | RHP DOC |
Tejas Cargo IPO SUBSCRIPTION STATUS
18 Feb '25Tejas Cargo IPO overall subscription rate was 1.14 times the total available shares
Tejas Cargo IPO retail subscription rate was 1.43 times in the retail segment
Tejas Cargo IPO non-institutional investor subscription rate was 1.94 times in the non-institutional investor category
Tejas Cargo IPO Qualified Institutional Bidder subscription rate was 0.7 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
18 Feb 2025 (Day 3) | 1.43x | 1.94x | 0.7x |
17 Feb 2025 (Day 2) | 0.87x | 0.64x | 0.66x |
14 Feb 2025 (Day 1) | 0.54x | 0.07x | 0.18x |
Tejas Cargo FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | 87.5 | 2526.1 | 245.6 | 245.6 | 18.0% |
| FY24 | 132.2 | 4193.3 | 481.5 | 490.1 | 16.5% |
| FY23 | 98.6 | 3817.9 | -72.7 | -65.7 | 8.6% |
| FY22 | 31.6 | 2092.9 | -52.2 | -52.2 | 4.0% |
Tejas Cargo IPO SUBSCRIPTION STATUS DETAILS
Tejas Cargo had 6.3 M shares on offer
Tejas Cargo IPO offer price was in the range ₹160 - ₹168
Tejas Cargo IPO minimum Investment was ₹128000
Tejas Cargo IPO issue size was ₹ 1008.0 M - ₹ 1058.4 M
Tejas Cargo had a minimum lot size of 800 Shares per application
Tejas Cargo NUMBER OF SHARES ON OFFER
Tejas Cargo IPO IMPORTANT DATES
| Issue Open Date | 14 Feb 2025 |
| Issue close Date | 18 Feb 2025 |
| Allotment Date | 19 Feb 2025 |
| Refund Date | 20 Feb 2025 |
| Demat Account Credit Date | 20 Feb 2025 |
| Listing Date | 24 Feb 2025 |
| Listing on Exchange(s) | NSE |
| Tejas Cargo Allotment Status | Exchange |
Tejas Cargo IPO subscription opened on 14 Feb 2025, and closed on 18 Feb 2025
IPO allotment for Tejas Cargo was finalized on Wednesday, 19 Feb 2025
IPO listing for Tejas Cargo was on NSE on Monday, 24 Feb 2025
Tejas Cargo IPO LISTING GAINS
| Issue Price (adjusted) | 168.0 |
| Listing Open Price | 175.0 |
| Listing Close Price | 168.0 |
| Listing Gain% | 4.2% |
| Current Gain% | 137.5% |
Tejas Cargo Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tejas Cargo India Ltd. | 399 | 953.3 | 45.5 | 4.9 | 1.5 | 10.8 | 4.7 | 636.5 | 25.2 | 20.9 | 9.4 | 8.8 | 9.4 |
| Container Corporation of India Ltd. | 501.9 | 38225.6 | 30.8 | -7.2 | 4.2 | 9.6 | 8.2 | 9443.2 | 1.2 | 1241.8 | -3.6 | 16.3 | -4.2 |
| Delhivery Ltd. | 478.4 | 35831 | 383.1 | -7.2 | 3.2 | 1.6 | 1.2 | 10867 | 16 | 152.7 | -5.8 | 1.2 | -52.9 |
| Shadowfax Technologies Ltd. | 247.5 | 14489 | 85.7 | 3.1 | 6.4 | 3.9 | 4238.6 | 68.6 | 111.7 | 1638.4 | 2.9 | ||
| Blue Dart Express Ltd. | 5190.5 | 12316 | 42.9 | 2.7 | 1.9 | 13.9 | 6 | 6182.8 | 7.3 | 247.4 | -2 | 121 | 15.8 |
| VRL Logistics Ltd. | 284.9 | 4984 | 18.6 | 0.9 | 1.5 | 20.7 | 9.1 | 3244.8 | 1.8 | 236.8 | 29.5 | 15.3 | 21.8 |
Tejas Cargo INFORMATION ON IPO ISSUE
About Tejas Cargo
Tejas Cargo India Ltd. was established on March 26, 2021. The company provides express road transportation services under Full Truck Load (FTL) to various industries, including logistics, steel, cement, e-commerce, and FMCG, using technology-driven solutions for efficiency
Object of the Issue
- Purchase of additional trailers for the company
- To meet working capital requirements
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company
- General corporate purposes
Tejas Cargo - PROMOTERS
| Name |
|---|
| Chander Bindal |
| Manish Bindal |
Tejas Cargo Lead Manager of the Issue
New Berry Capitals Private Limited
project.radiance@newberry.in
Tejas Cargo Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Tejas Cargo Strengths
Heavy asset ownership model
The company owns a fleet of 1,131 vehicles, including 218 trailers and 913 container trucks, ensuring operational control and cost efficiency. Additional vehicles are hired as needed, optimizing availability, fulfilment rates, and competitive pricing
In-house maintenance
The company's maintenance facility, with 12 repair bays and advanced diagnostic equipment, can service up to 40 trucks, ensuring minimal breakdowns and improved vehicle uptime. On-site manufacturer representatives provide personalized support for efficient maintenance
Diversified client base & revenue sources
The company serves diverse industries, including logistics, steel, cement, e-commerce, industrial chemicals, FMCG, and white goods, through its transportation business
Tejas Cargo Risks
Dependent on road network
The company's operations rely on an uninterrupted road network and vehicle utilization. Any disruptions could lead to delays, increased costs, or reputational and profitability losses
Difficulties in hiring skilled drivers
The company outsources truck drivers on an ad-hoc basis. Difficulty in sourcing skilled drivers could negatively impact operations, financial performance, and business results
Transportation risks
The company ensures compliance by obtaining necessary transportation documents, including proof of delivery, invoices, and e-way bills. Verification is conducted through invoices, e-way bills, and confirmation from drivers and employees
IPO FAQs
The promoters of the company are Chander Bindal and Manish Bindal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 160.0 - 168.0.
The IPO application opens on Feb 14, 2025 and closes on Feb 18, 2025.
The minimum lot size for the IPO is 800. The maximum lot size for the IPO is 800.
For all category investors, the minimum application amount for this IPO is Rs. 128,000.0, the maximum value for this IPO is Rs 134,400.0.
This IPO will be allotted on Feb 19, 2025.
The refund will be credited to your account on Feb 20, 2025.
The allotted shares will be credited to your demat on Feb 20, 2025.
Tejas Cargo India Ltd.’s shares listed on the stock exchanges on Feb 24, 2025.