Bookbuilding IPO | ₹106 Cr | Listed at NSE SME | Fri, Feb 14, 2025 - Tue, Feb 18, 2025
Tejas Cargo IPO is a book build issue of ₹105.84 crores. The issue is entirely a fresh issue of 0.63 crore shares of ₹105.84 crore.
Tejas Cargo IPO bidding started from Feb 14, 2025 and ended on Feb 18, 2025. The allotment for Tejas Cargo IPO was finalized on Feb 19, 2025. The shares got listed on NSE SME on Feb 24, 2025.
Tejas Cargo IPO price band is set at ₹168 per share. The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,34,400 (800 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,600 shares), amounting to ₹2,68,800.
New Berry Capitals Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is New Berry Capitals Pvt.Ltd..
Refer to Tejas Cargo IPO RHP for detailed Information.
IPO Open
Fri, Feb 14, 2025
IPO Close
Tue, Feb 18, 2025
Issue Price
₹168 per share
Market Cap (Pre-IPO)
₹401.40 Cr
| IPO Date | 14 to 18 Feb, 2025 |
| Listed on | Mon, Feb 24, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹160 to ₹168 |
| Issue Price | ₹168 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 63,00,000 shares (agg. up to ₹106 Cr) |
| Reserved for Market Maker | 3,15,200 shares New Berry Capitals Pvt.Ltd. (agg. up to ₹5 Cr) |
| Fresh Issue (Ex Market Maker) | 59,84,800 shares (agg. up to ₹101 Cr) |
| Net Offered to Public | 59,84,800 shares (agg. up to ₹101 Cr) |
| Share Holding Pre Issue | 1,75,92,840 shares |
| Share Holding Post Issue | 2,38,92,840 shares |
| NSE Symbol | TEJASCARGO |
| ISIN | INE17WC01013 |
Tejas Cargo IPO comprises a total issue size of 63,00,000 shares. The net offer to the public is 59,21,600 shares, after excluding 3,15,200 shares allotted on a firm basis and 63,200 shares under a preferential allotment. Of the Net offer 29,60,000 (49.99%) are allocated to QIB, 8,88,800 (15.01%) allocated to NII 20,72,800 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 29,60,000 | 49.99% | 46.98% |
| − Anchor Investor Shares Offered | 17,75,200 | 28.18% | |
| − QIB (Ex. Anchor) Shares Offered | 11,84,800 | 18.81% | |
| NII (HNI) Shares Offered | 8,88,800 | 15.01% | 14.11% |
| Retail Shares Offered | 20,72,800 | 35.00% | 32.90% |
| Preferential Reservations | |||
| Employee Shares Offered | 63,200 | 1.00% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,15,200 | 5.00% | |
| Total Shares Offered | 63,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,34,400 |
| Retail (Max) | 1 | 800 | ₹1,34,400 |
| HNI (Min) | 2 | 1,600 | ₹2,68,800 |
Tejas Cargo IPO raises ₹29.82 crore from anchor investors. Tejas Cargo IPO Anchor bid date is February 13, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Feb 13, 2025 |
| Shares Offered | 17,75,200 |
| Anchor Portion (₹ Cr.) | 29.82 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 21, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 20, 2025 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Up to Rs 2 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
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
| Period Ended | 30 Sep 2024 | 31 Mar 2024 |
|---|---|---|
| Assets | 294.29 | 236.00 |
| Total Income | 255.09 | 422.59 |
| Profit After Tax | 8.75 | 13.22 |
| NET Worth | 63.16 | 55.45 |
| Reserves and Surplus | 46.60 | 55.20 |
| Total Borrowing | 206.28 | |
| Amount in ₹ Crore | ||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of additional trailers for the Company | 31.76 |
| 2 | To meet working capital requirements | 30.00 |
| 3 | Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company | 15.00 |
| 4 | General Corporate Purposes | 21.47 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 38.62% |
| ROCE | 28.30% |
| RoNW | 23.85% |
| PAT Margin | 3.13% |
| Price to Book Value | 0.07 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.52 | 7.32 |
| P/E (x) | 22.35 | 22.95 |
| Promoter Holding | 100% | 73.63% |
| Market Cap | ₹401.40 Cr. |
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)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 1.33 | 11,84,800 | 15,78,400 | 2 |
| NII* | 1.07 | 8,88,800 | 9,52,800 | 48 |
| Retail | 1.09 | 20,72,800 | 22,68,800 | 2,836 |
| Total | 1.15 | 42,09,600 | 48,46,400 | 2,906 |
Total Application : 2,906
*Market Maker portion is not included to NII/HNI.
| Restated Standalone | Restated Standalone | |
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 116.42 | 63.57 |
| Revenue | 384.37 | 209.67 |
| Profit After Tax | 9.86 | 3.16 |
| Net Worth | 13.02 | 2.94 |
| Reserves and Surplus | 13.01 | 3.16 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the BRLM (including brokerage, underwriting and selling commission) | 6.46 |
| 2 | Brokerage, selling commission, and bidding charges for Members of the Syndicate, SCSBs, Registered Brokers, RTAs, and CDPs, along with selling commission and processing fees for SCSBs and fees payable to the Sponsor Bank for RIIs' Bids made via UPI | 0.09 |
| 3 | Fees payable to the Registrar to the Issue | 0.01 |
| 4 | Fees payable to Legal Counsel, Industry Expert and Advertising Agency | 0.33 |
| 5 | Listing fees, Stock Exchange filing fees, book building software fees and other regulatory expenses; Printing and stationery expenses; Fees payable to Monitoring Agency | 0.22 |
| 6 | Miscellaneous | 0.50 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹168.00 |
| Open | ₹175.00 |
| Low | ₹168.00 |
| High | ₹175.00 |
| Last Trade | ₹168.00 |
Lead Manager Reports
Tejas Cargo IPO is a SME IPO of 63,00,000 equity shares of the face value of ₹10 aggregating up to ₹106 Crores. The issue is priced at ₹168 per share. The minimum order quantity is 800.
The IPO opens on Fri, Feb 14, 2025, and closes on Tue, Feb 18, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Tejas Cargo IPO using UPI as a payment gateway. Zerodha customers can apply in Tejas Cargo IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Tejas Cargo IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Tejas Cargo IPO opens on Fri, Feb 14, 2025 and closes on Tue, Feb 18, 2025.
Tejas Cargo IPO lot size is 800, and the minimum amount required for application is ₹1,34,400.
You can apply in Tejas Cargo 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 Tejas Cargo IPO will be done on Wednesday, February 19, 2025, and the allotted shares will be credited to your demat account by Thu, Feb 20, 2025. Check the Tejas Cargo IPO allotment status.
The Tejas Cargo IPO listing date is on Mon, Feb 24, 2025.
