Dhillon Freight Carrier was incorporated on May 28, 2014. The company provides logistics solutions, specializing in road transportation, including Parcel/LTL, Contract Logistics, and Fleet Rental/Leasing for B2B and B2C clients. ISO 9001:2015 certified, it operates a fleet of 62 vehicles across West Bengal, Bihar, Delhi, and Uttar Pradesh, supported by 22 offices, warehouses, and agency networks
| Bidding Dates |
|---|
| 29 Sep 2025 - 01 Oct 2025 |
| Subscription |
|---|
| 2.82x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,30,400 | 2 | 2 | 1600 | 1.4 M | ₹72 | 64.29 % | ₹100.8 M | RHP DOC |
Dhillon Freight Carrier IPO SUBSCRIPTION STATUS
01 Oct '25Dhillon Freight Carrier IPO overall subscription rate was 2.82 times the total available shares
Dhillon Freight Carrier IPO retail subscription rate was 4.63 times in the retail segment
Dhillon Freight Carrier IPO non-institutional investor subscription rate was 1.01 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
01 Oct 2025 (Day 3) | 4.63x | 1.01x | - |
30 Sep 2025 (Day 2) | 1.81x | 0.4x | - |
29 Sep 2025 (Day 1) | 0.51x | 0.11x | - |
Dhillon Freight Carrier FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 24.7 | 1.7 | 3.4 | 3.2 | 14.8% |
| FY24 | 24.0 | 1.1 | 2.3 | 0.6 | 13.8% |
| FY23 | 29.6 | 0.4 | 2.7 | -0.9 | 5.89% |
Dhillon Freight Carrier IPO SUBSCRIPTION STATUS DETAILS
Dhillon Freight Carrier had 1.4 M shares on offer
Dhillon Freight Carrier IPO offer price was ₹72
Dhillon Freight Carrier IPO minimum Investment was ₹230400
Dhillon Freight Carrier IPO issue size was ₹ 100.8 M
Dhillon Freight Carrier had a minimum lot size of 1600 Shares per application
Dhillon Freight Carrier NUMBER OF SHARES ON OFFER
Dhillon Freight Carrier IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2025 |
| Issue close Date | 01 Oct 2025 |
| Allotment Date | 03 Oct 2025 |
| Refund Date | 06 Oct 2025 |
| Demat Account Credit Date | 06 Oct 2025 |
| Listing Date | 07 Oct 2025 |
| Listing on Exchange(s) | BSE |
| Dhillon Freight Carrier Allotment Status | Exchange/ Registrar |
Dhillon Freight Carrier IPO subscription opened on 29 Sep 2025, and closed on 01 Oct 2025
IPO allotment for Dhillon Freight Carrier was finalized on Friday, 03 Oct 2025
IPO listing for Dhillon Freight Carrier was on BSE on Tuesday, 07 Oct 2025
Dhillon Freight Carrier IPO LISTING GAINS
| Issue Price (adjusted) | 72.0 |
| Listing Open Price | 57.6 |
| Listing Close Price | 54.7 |
| Listing Gain% | -20.0% |
| Current Gain% | -58.3% |
Dhillon Freight Carrier 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dhillon Freight Carrier Ltd. | 30 | 11.8 | 8.7 | -0.4 | 0.5 | 9.5 | 6.2 | 25.8 | 2.5 | 1.3 | -22.1 | 3.4 | -22.1 |
| Transport Corporation of India Ltd. | 937.7 | 7204.5 | 15.8 | 2.4 | 1.4 | 17.8 | 13.1 | 4965 | 9.4 | 456.2 | 10.6 | 59.4 | 6.7 |
| Globe International Carriers Ltd. | 20.7 | 232.2 | 23.6 | 0.3 | 1.3 | 10 | 4.8 | 176.6 | 12.6 | 9.9 | 105.2 | 0.9 | 84.8 |
| Chartered Logistics Ltd. | 9.4 | 115.9 | -49.9 | 0.2 | 1.6 | -3.5 | -2.5 | 74.1 | -5.8 | -2.3 | -287.9 | -0.2 | -287.9 |
| Patel Integrated Logistics Ltd. | 14.2 | 98.6 | 9.4 | 0.3 | 0.3 | 7.8 | 5.9 | 360 | 4.2 | 9.6 | 26.3 | 1.5 | 35.8 |
| Shree OSFM E-Mobility Ltd. | 57.5 | 88.6 | 11.7 | 9 | 5.8 | 155.8 | 11.1 | 7.6 | -26.8 | 4.9 |
Dhillon Freight Carrier INFORMATION ON IPO ISSUE
About Dhillon Freight Carrier
Dhillon Freight Carrier was incorporated on May 28, 2014. The company provides logistics solutions, specializing in road transportation, including Parcel/LTL, Contract Logistics, and Fleet Rental/Leasing for B2B and B2C clients. ISO 9001:2015 certified, it operates a fleet of 62 vehicles across West Bengal, Bihar, Delhi, and Uttar Pradesh, supported by 22 offices, warehouses, and agency networks
Object of the Issue
- Purchase of goods transportation vehicles and its fabrication
- General corporate purposes
- To meet the issue expenses
Dhillon Freight Carrier - PROMOTERS
| Name |
|---|
| Karan Singh Dhillon |
| Karamveer Singh Dhillon |
| Joyce Singh Dhillon |
Dhillon Freight Carrier - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Karan Singh Dhillon | Managing Director & Chairman |
| Karamveer Singh Dhillon | Whole Time Director |
| Joyce Singh Dhillon | Non-Executive Director |
| Rucheka Singhi Kothari | Independent Director |
| Ekta Jain | Independent Director |
Dhillon Freight Carrier Book Running Lead Manager
Finshore Management Services Limited
info@finshoregroup.com
Dhillon Freight Carrier Registrar to the issue
KFin Technologies Limited
dfc.ipo@kfintech.com
Dhillon Freight Carrier Strengths
Diversified service range
The company’s strength lies in its diversified services, offering Parcel/Less-than-Truckload (LTL), Contract Logistics, and Fleet Rental/Leasing. This comprehensive portfolio enables it to provide integrated logistics solutions to clients under a single roof
Clean energy
The company is committed to sustainable transportation and has invested in eco-friendly vehicles, including 45 electric 3-wheelers and 2 CNG-powered goods vehicles. These green mobility initiatives help reduce emissions and promote cleaner logistics operations
Diverse fleet
The company operates a fleet of 62 owned vehicles and also outsources trucks on a hire basis, giving access to a larger, flexible fleet. Strong relationships with single-owner drivers and small fleet operators help maintain loyalty, ensure vehicle availability during peak demand, and optimise freight costs, while owned customised vehicles enhance payload capacity and reduce hiring expenses
Dhillon Freight Carrier Risks
Handling risks
The company faces risks from improper handling of goods at its facilities, which could harm its reputation and adversely impact business, operations, and financial condition. Such risks include theft, negligence, or human error, potentially leading to legal proceedings, though no incidents have so far caused operational disruption or damage
Dependent on economic conditions
The company’s business is closely linked to India’s economic conditions and consumer spending across sectors like Textile, Iron & Steel, Chemical, and Agriculture. Any economic slowdown or reduced consumer demand can lower logistics spending by customers, negatively affecting the company’s operations, financial condition, and results
Execution risks
The company’s growth and operational stability depend on the effective implementation of its business strategy. Past success does not guarantee that future plans will achieve the desired results on time or within budget
IPO FAQs
The promoters of the company are Karan Singh Dhillon, Karamveer Singh Dhillon and Joyce Singh Dhillon.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 72.0 - 72.0.
The IPO application opens on Sep 29, 2025 and closes on Oct 01, 2025.
The minimum lot size for the IPO is 3200. The maximum lot size for the IPO is 3200.
For all category investors, the minimum application amount for this IPO is Rs. 230,400.0, the maximum value for this IPO is Rs 230,400.0.
This IPO will be allotted on Oct 03, 2025.
The refund will be credited to your account on Oct 06, 2025.
The allotted shares will be credited to your demat on Oct 06, 2025.
Dhillon Freight Carrier Ltd.’s shares listed on the stock exchanges on Oct 07, 2025.