Apana Logistics SME IPO Details
Apana Logistics Ltd provides container handling and transport services at container freight stations, inland container depots and ports, along with road transport and truck-trailer maintenance. Running since 1992, it owned 33 truck-trailers and 5 reach stackers as on 31 August 2025 and serves leading CFS, ICD and port operators.
Open
07 Sep
2026
Close
09 Sep
2026
Allotment
10 Sep
2026
Listing
15 Sep
2026
IPO Review
Coming Soon
IPO GMP
₹ 0
(--)
IPO Subscription Subscription
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IPO Summary
IPO Dates
7 to 9 Sep, 2026
Price Band
₹60
Face Value
₹10
Lot Size
2000 Shares
Issue Size
₹34.14 Cr
Sale Type
Fresh capital only
Listing On
BSE SME
Min Investment
₹ 2,40,000
What is the Apana Logistics IPO Timetable?
Track the IPO schedule and key events.
| Event | Date | Day |
|---|---|---|
| IPO Open Date | 07 Sep, 2026 Mon | Monday |
| IPO Close Date | 09 Sep, 2026 Wed | Wednesday |
| Basis of Allotment | 10 Sep, 2026 Thu | Thursday |
| Refunds Initiated | 11 Sep, 2026 Fri | Friday |
| Credit to Demat | 11 Sep, 2026 Fri | Friday |
| Listing Date | 15 Sep, 2026 Tue | Tuesday |
What is the Apana Logistics IPO Lot Size?
Bidding in multiples of 2000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4000 | ₹2,40,000 |
| Retail (Max) | 2 | 4000 | ₹2,40,000 |
| HNI (Min) | 3 | 6000 | ₹3,60,000 |
About Apana Logistics
Apana Logistics Ltd was started in 1992. The company provides logistics support for handling and moving shipping containers.
Its services cover container handling at container freight stations, known as CFS, at inland container depots, known as ICD, and at ports. It also does road transportation, handles cargo at warehouses owned by other parties, and carries out repair, operation and maintenance of truck-trailers.
Its customers are among the leading CFS, ICD and port operators in India, and the company positions itself on giving cost effective and time effective solutions. As on 31 August 2025 it owned and maintained a fleet of 33 truck-trailers and 5 reach stackers, which are the heavy machines used to lift and stack containers. It serves more than 10 customers and has long standing relationships with them, with two of its top five customers associated with it for over 10 years. As on 31 August 2025 it had 85 permanent employees.
Its services cover container handling at container freight stations, known as CFS, at inland container depots, known as ICD, and at ports. It also does road transportation, handles cargo at warehouses owned by other parties, and carries out repair, operation and maintenance of truck-trailers.
Its customers are among the leading CFS, ICD and port operators in India, and the company positions itself on giving cost effective and time effective solutions. As on 31 August 2025 it owned and maintained a fleet of 33 truck-trailers and 5 reach stackers, which are the heavy machines used to lift and stack containers. It serves more than 10 customers and has long standing relationships with them, with two of its top five customers associated with it for over 10 years. As on 31 August 2025 it had 85 permanent employees.
Apana Logistics Key Performance Indicators (KPIs)
Roce
26.57%
Ronw
23.64%
Pat margin
14.49%
Objects of the Issue
| Issue Object | Estimate Amount |
|---|---|
| Funding capital expenditure requirement of company towards purchase of reach stackers | ₹25.00 Cr. |
| General corporate purposes |
Issue Object
Funding capital expenditure requirement of company towards purchase of reach stackers
Estimate Amount
₹25.00 Cr.
Issue Object
General corporate purposes
Estimate Amount
Strengths & Risks
Strengths
- ✓ Profit has grown, from Rs 1.30 crore in FY2023 to Rs 3.00 crore in FY2024 and Rs 3.17 crore in FY2025.
- ✓ EBITDA has doubled over the same period, from Rs 3.10 crore in FY2023 to Rs 6.15 crore in FY2025.
- ✓ Return ratios are good, with RoCE of 26.57% and RoNW of 23.64%, and a PAT margin of 14.49%.
- ✓ The company has a long record, having been in this business since 1992.
- ✓ Customer relationships are long standing. Two of its top five customers have been with it for more than 10 years.
- ✓ It owns its equipment rather than hiring it, with a fleet of 33 truck-trailers and 5 reach stackers as on 31 August 2025.
- ✓ Rs 25 crore of the Rs 34.14 crore issue goes into buying reach stackers, which directly adds earning capacity.
- ✓ Borrowing came down from Rs 9.26 crore in FY2024 to Rs 8.00 crore in FY2025 while net worth rose to Rs 14.41 crore.
Risks
- ⚠ Sales have not recovered to their earlier level. Total income was Rs 27.28 crore in FY2023, fell to Rs 20.33 crore in FY2024 and was Rs 21.61 crore in FY2025, so it is still well below where it was two years earlier.
- ⚠ The financial data is old for an issue opening in September 2026. The latest year given is FY2025, ending 31 March 2025.
- ⚠ The promoter names are not stated in the data available to us, and the category wise reservation for the issue is also not available, so both need to be read from the RHP.
- ⚠ The customer base is very small at more than 10 customers, so losing even one large CFS or port operator would be felt immediately.
- ⚠ This is a capital heavy business. Reach stackers and truck-trailers are costly, wear out and need replacing, so spending does not stop after this issue.
- ⚠ Container volumes depend on export and import trade. A slowdown in EXIM cargo directly reduces handling and transport work.
- ⚠ Borrowing of Rs 8.00 crore is high against a net worth of Rs 14.41 crore.
- ⚠ This is a fixed price issue at Rs 60 per share, so there is no price discovery through bidding.
- ⚠ Promoter holding will come down from 100% to 67.5% after the issue.
- ⚠ This is an SME issue. One lot is 2,000 shares, which is Rs 1.20 lakh at the issue price, and SME shares usually trade in low volume after listing.
Company Financials
The Apana Logistics company's financial performance (in ₹ Cr.) is summarized below:
| Metric | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 29.42 | 25.56 | 15.07 |
| Total Income | 21.61 | 20.33 | 27.28 |
| Profit After Tax | 3.17 | 3.00 | 1.30 |
| EBITDA | 6.15 | 4.63 | 3.10 |
| NET Worth | 14.41 | 11.87 | 8.87 |
| Reserves and Surplus | 2.65 | 9.90 | 6.90 |
| Total Borrowing | 8.00 | 9.26 | 1.77 |
Promoters and Shareholding Details
| Particular | % Share |
|---|---|
| Promoter Holding Pre Issue | 100% |
| Promoter Holding Post Issue | 67.5% |
Frequently Asked Questions
What is the GMP of Apana Logistics?
The current Grey Market Premium (GMP) of Apana Logistics is ₹ 0.
What is the Apana Logistics IPO Price Band?
The price band for Apana Logistics IPO is ₹60.
When is the Apana Logistics IPO Allotment?
The allotment date for Apana Logistics IPO is September 10, 2026.
How to check Apana Logistics IPO Allotment Status?
You can check the allotment status on the IPO Allotment Status page or on the registrar's website (KFin Technologies Limited).
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