Apana Logistics IPO
smeupcomingAbout the company
Apana Logistics is a logistics service provider that provides services related to container handling and container transportation. Its service offering includes container handling at Container Freight Stations (CFS), Inland Container Depots (ICDs) and ports, road transportation, cargo handling at warehouses of third parties and operation, repair and maintenance of trucks and trailers. As of March 31, 2026, it had 33 truck-trailers, 5 reach stackers and 2 cranes. The company operates under a diversified logistics business model covering multiple aspects of cargo handling and movement. It participates in tenders which are mostly based on technical, financial and price-related considerations and generally enters into contracts that range from 2 to 5 years. As of March 31, 2026, it had six orders worth approximately ₹80.35 crore in hand. Handling of containers at CFSs, ICDs, and ports has become the main business vertical of the company. In FY26, this business vertical contributed revenues worth ₹13.37 crore, which constituted 43.34% of the company’s total operating revenue, as against ₹9.03 crore of FY24. Road transportation contributed revenues worth ₹15.10 crore, constituting 48.94% of the total operating revenue, whereas the maintenance of trucks and trailers generated revenues of ₹1.73 crore, which amounted to 5.59%. Handling of cargo at warehouses of third parties contributed revenues worth ₹0.65 crore, which constituted 2.13% of the total operating revenue. In terms of geography, Karnataka accounted for 33.25% of the revenues from operations, and Maharashtra and West Bengal each contributed 17.36%. Gujarat and Goa accounted for 14.94% and 12.96%, respectively, in FY26.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 09 Sep | ₹3 | ₹63 | +1 |
| 08 Sep | ₹2 | ₹62 | -1 |
| 07 Sep | ₹3 | ₹63 | -2 |
| 06 Sep | ₹5 | ₹65 | 0 |
| 05 Sep | ₹5 | ₹65 | +1 |
| 04 Sep | ₹4 | ₹64 | +1 |
| 03 Sep | ₹3 | ₹63 | +1 |
| 02 Sep | ₹2 | ₹62 | 0 |
Strengths
- Diversified logistics services across container handling, transportation and cargo handling
- Established track record in the logistics industry since 1992
- Strong relationships with CFSs, ICDs, ports and warehouse operators
- Ability to participate in government and semi-government tenders
- Established fleet and handling equipment, including truck-trailers and reach stackers
- Track record of growth and profitability
- Experienced promoters and management team
- Ongoing contracts provide visibility for future revenue
Risks
- High dependence on a limited number of key customers
- Reliance on network partners, third-party service providers and vendors
- Logistics operations are exposed to transportation-related risks, including cargo damage and delays
- Business is manpower intensive and depends on skilled employees
- Rising fuel and operating costs could pressure margins
- Competition in the fragmented logistics industry could affect growth and profitability
- Some historical corporate records and regulatory filings are unavailable
Financial performance (₹ Cr)
IPO Roadmap / Timeline
IPO Opens
Upcoming07 Sept 2026Bidding starts for all investor categories
IPO Closes
Upcoming09 Sept 2026Last day to place your bid
Basis of Allotment
Upcoming11 Sept 2026Share allotment finalised
Refund Initiation
Upcoming12 Sept 2026Refunds credited for non-allottees
Credit to Demat
Upcoming13 Sept 2026Allotted shares credited to demat account
Listing on Exchange
Upcoming15 Sept 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 2000 | ₹120,000 | 1 | ₹120,000 | 1 lot only |
| HNI | 2 | 4000 | ₹240,000 | 2 | ₹240,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 2,833,334 | 17 | 0 | 0.00x | 100% |
| NII | 15% | 850,000 | 5.1 | 0 | 0.00x | 100% |
| Retail | 35% | 1,983,333 | 11.9 | 0 | 0.00x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).