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Turtle Infratrade Ltd. has withdrawn its Initial Public Offer (IPO) documents filed with the exchange on May 23, 2025.
Turtle Infratrade Ltd. IPO was a Fixed Price Issue
The equity shares were proposed to be listed on the BSE SME. Inventure Merchant Banker Services Pvt.Ltd. was the book running lead manager and Bigshare Services Pvt.Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Reserved for Market Maker | 1,38,000 shares (aggregating up to ₹0.5520 Cr) |
| Net Offered to Public | 27,00,000 shares (aggregating up to ₹10.80 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 75,19,053 shares |
| Share Holding Post Issue | 1,02,19,053 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Thu, Feb 13, 2025 |
| Offer document withdrawn | Fri, May 23, 2025 |
Investors can bid for a minimum of 3,000 shares and in multiples 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 |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2010, Turtle Infratrade Limited is engaged in the business of transportation and logistics services to the energy industry.
The company provides services to the energy industry, specializing in the transportation of goods for refinery operations, ensuring efficient and reliable movement of materials for production processes.
The company operates a fleet of 80 vehicles, ensuring the safe, timely delivery of ethanol, bitumen, and other refinery materials, supporting smooth operations and meeting large-scale transportation needs.
The company procures and distributes commodities like sugar, ethanol, and bulk bitumen, sourcing from mills in Maharashtra or imports, and supplies these products to various B2B clients.
The company’s B2B model efficiently handles large-scale distribution of sugar, ethanol, and bitumen, offering cost-effective pricing, reliable logistics, and timely deliveries, building trust with clients across various industries.
Services:
Fleet Management: The company operates a fleet of 80 commercial vehicles, including tankers and trucks for transporting ethanol, bitumen, and refinery materials, ensuring optimal condition through regular maintenance and safety protocols for maximum efficiency.
Transportation Solutions
As of February 13, 2025, the company has 132 employees.
Competitive Strengths:
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 29.39 | 33.38 | 47.94 | 34.6 |
| Total Income | 50.58 | 178.64 | 125.38 | 246.21 |
| Profit After Tax | 0.69 | 5.57 | 1.32 | 2.97 |
| Net Worth | 13.39 | 12.69 | 7.16 | 6.19 |
| Reserves and Surplus | 5.87 | 12.37 | 6.83 | 5.86 |
| Total Borrowing | 3.3 | 7.37 | 10.12 | 13.92 |
| Amount in ₹ Crore | ||||
The market capitalization of Turtle Infratrade IPO is ₹40.88 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 43.89% |
| ROCE | 27.77% |
| RoNW | 43.89% |
| PAT Margin | 3.12% |
| Price to Book Value | 2.37 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 7.41 | 1.36 |
| P/E (x) | 5.4 | 29.47 |
The objects of the Net Proceeds of the Issue are:
Turtle Infratrade Ltd.
Metropolitan Condominium, Plot No. 27,
2nd Floor, Sr. No. 21, Hissa 4/1, Wakdewadi,
Old Mumbai Pune Road, Shivajinagar,
Mumbai, Maharashtra, 411005
Phone: +91 20 2581 4181
Email: info@turtleinfra.com
Website: http://www.turtleinfra.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Turtle Infratrade IPO is a SME IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The Turtle Infratrade IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Turtle Infratrade IPO using UPI as a payment gateway. Zerodha customers can apply in Turtle Infratrade IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Turtle Infratrade IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Turtle Infratrade IPO dates are not announced. Please check back again after some time.
Turtle Infratrade IPO lot size is 3000, and the minimum amount required for application is ₹1,20,000.
You can apply in Turtle Infratrade 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 Turtle Infratrade IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Turtle Infratrade IPO allotment status.
The Turtle Infratrade IPO listing date is not yet announced. The tentative date of Turtle Infratrade IPO listing is [.].
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