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Dhillon Freight Carrier Ltd. IPO is a fixed price issue of ₹10.08 crores. The issue is entirely a fresh issue of 0.14 crore shares of ₹10.08 crore.
Dhillon Freight Carrier IPO bidding started from Sep 29, 2025 and ended on Oct 1, 2025. The allotment for Dhillon Freight Carrier IPO was finalized on Oct 3, 2025. Dhillon Freight Carrier IPO will list on BSE SME with a tentative listing date fixed as Oct 7, 2025.
Dhillon Freight Carrier IPO price is ₹72.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,30,400.00 (3,200 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (4,800 shares), amounting to ₹3,45,600.
Finshore Management Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Anant Securities.
Refer to Dhillon Freight Carrier IPO DRHP for detailed Information.
| IPO Date | September 29, 2025 to October 1, 2025 |
| Listing Date | October 7, 2025 |
| Face Value | ₹10 per share |
| Issue Price Final | ₹72 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 14,00,000 shares (aggregating up to ₹10.08 Cr) |
| Reserved for Market Maker | 70,400 shares Anant Securities (aggregating up to ₹0.5069 Cr) |
| Net Offered to Public | 13,29,600 shares (aggregating up to ₹9.57 Cr) |
| 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 |
Dhillon Freight Carrier IPO offers total 14,00,000 shares. Out of which 6,64,000 (47.43%) allocated to NII 6,65,600 (47.54%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 70,400 (5.03%) |
| NII (HNI) Shares Offered | 6,64,000 (47.43%) |
| Retail Shares Offered | 6,65,600 (47.54%) |
| Total Shares Offered | 14,00,000 (100.00%) |
Dhillon Freight Carrier IPO opens on September 29, 2025, and closes on October 1, 2025.
| IPO Open Date | Mon, Sep 29, 2025 |
| IPO Close Date | Wed, Oct 1, 2025 |
| Tentative Allotment | Fri, Oct 3, 2025 |
| Initiation of Refunds | Mon, Oct 6, 2025 |
| Credit of Shares to Demat | Mon, Oct 6, 2025 |
| Tentative Listing Date | Tue, Oct 7, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Oct 1, 2025 |
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,30,400 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,30,400 |
| HNI (Min) | 3 | 4,800 | ₹3,45,600 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
M/s Dhillon Freight Carrier offers logistics solution services, particularly road transportation. It is a goods transport agency offering parcel/less than truck-load (LTL), contract logistics, and fleet rental/fleet leasing services to industries.
Products/Services:
It serves both B2B and B2C customers across the states of West Bengal, Bihar, Delhi, and Uttar Pradesh.
The company has an in-house fleet of 62 vehicles. It operates through a network of 22 booking offices, pickup facilities, warehouses, delivery offices, and agency networks.
Strengths
Dhillon Freight Carrier Ltd.'s revenue increased by 2% and profit after tax (PAT) rose by 58% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 9.71 | 9.16 | 6.78 |
| Total Income | 25.22 | 24.73 | 29.91 |
| Profit After Tax | 1.73 | 1.09 | 0.36 |
| EBITDA | 3.67 | 3.31 | 1.74 |
| NET Worth | 5.23 | 3.50 | 1.50 |
| Reserves and Surplus | 2.71 | 0.98 | 1.33 |
| Total Borrowing | 3.34 | 4.80 | 4.39 |
| Amount in ₹ Crore | |||
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 39.65% |
| ROCE | 31.77% |
| Debt/Equity | 0.64 |
| RoNW | 33.09% |
| PAT Margin | 6.99% |
| EBITDA Margin | 14.84% |
| Price to Book Value | 3.47 |
| Market Capitalization | 28.22 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 6.86 | 4.41 |
| P/E (x) | 10.49 | 16.32 |
The Company Dhillon Freight Carrier IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Purchase of Goods Transportation Vehicles and its Fabrication | 7.67 |
| 2 | General Corporate Expenses | 1.09 |
[Dilip Davda] DFCL is engaged in providing logistics solutions to B2B and B2C clients. The company posted growth in bottom lines on an inconsistent top lines for the reported periods. It is operating in a highly competitive and fragmented segment. Based on its recent financial data, the issue appears fully priced. Tiny equity capital post-IPO indicates longer gestation period for migration. Well-informed/cash surplus investors may park moderate funds for long term. Read detail review...
| Listing Date | October 7, 2025 |
| BSE Script Code | 544556 |
| NSE Symbol | |
| ISIN | INE0SPJ01011 |
| Final Issue Price | ₹72 per share |
| BSE Listing Group | MT (Trade to Trade) |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹72.00 |
| Open | ₹57.60 |
| Low | ₹54.72 |
| High | ₹57.60 |
| Last Trade | ₹54.72 |
Dhillon Freight Carrier Ltd.
Chatterjee International Building,
33A Jawaharlal Nehru Road
20th Floor, Suite No. A03, Middleton Row,
Kolkata, West Bengal, 700071
Phone: +91 99031 30247
Email: cs@dfclogistics.in
Website: http://www.dfclogistics.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: dfc.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Dhillon Freight Carrier IPO is a SME IPO of 14,00,000 equity shares of the face value of ₹10 aggregating up to ₹10.08 Crores. The issue is priced at ₹72 per share. The minimum order quantity is 1600.
The IPO opens on September 29, 2025, and closes on October 1, 2025.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Dhillon Freight Carrier IPO using UPI as a payment gateway. Zerodha customers can apply in Dhillon Freight Carrier IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Dhillon Freight Carrier IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Dhillon Freight Carrier IPO opens on September 29, 2025 and closes on October 1, 2025.
Dhillon Freight Carrier IPO lot size is 1600, and the minimum amount required for application is ₹2,30,400, with 2 lots being the minimum application size.
You can apply in Dhillon Freight Carrier IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Dhillon Freight Carrier IPO will be done on Friday, October 3, 2025, and the allotted shares will be credited to your demat account by Monday, October 6, 2025. Check the Dhillon Freight Carrier IPO allotment status.
The Dhillon Freight Carrier IPO listing date is on Tuesday, October 7, 2025.
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