Apana Logistics IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Individual investors (IND))
₹2,40,000
2 lots · 4,000 shares at the upper price band
Price band
₹60
Latest GMP
₹1
+1.7% of the ₹60 upper band
Est. listing price
₹61
Issue size
₹32.4 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 11 Sept 2026, 5:03 pm | ₹1 | ₹61 |
| 11 Sept 2026, 5:01 pm | ₹1 | ₹61 |
| 11 Sept 2026, 12:50 pm | ₹1 | ₹61 |
| 11 Sept 2026, 12:49 pm | ₹1 | ₹61 |
| 11 Sept 2026, 8:05 am | ₹1 | ₹61 |
| 11 Sept 2026, 8:03 am | ₹1 | ₹61 |
| 11 Sept 2026, 7:00 am | ₹1 | ₹61 |
| 11 Sept 2026, 6:55 am | ₹1 | ₹61 |
| 11 Sept 2026, 6:50 am | ₹1 | ₹61 |
| 11 Sept 2026, 6:28 am | ₹1 | ₹61 |
| 10 Sept 2026, 6:17 pm | ₹1 | ₹61 |
| 10 Sept 2026, 5:37 pm | ₹1 | ₹61 |
| 10 Sept 2026, 5:30 pm | ₹1 | ₹61 |
| 10 Sept 2026, 5:00 pm | ₹1 | ₹61 |
| 10 Sept 2026, 4:59 pm | ₹1 | ₹61 |
| 10 Sept 2026, 12:56 pm | ₹1 | ₹61 |
| 10 Sept 2026, 12:55 pm | ₹1 | ₹61 |
| 10 Sept 2026, 11:20 am | ₹1 | ₹61 |
| 10 Sept 2026, 8:08 am | ₹1 | ₹61 |
| 10 Sept 2026, 6:13 am | ₹1 | ₹61 |
| 10 Sept 2026, 6:10 am | ₹1 | ₹61 |
| 10 Sept 2026, 6:09 am | ₹1 | ₹61 |
| 9 Sept 2026, 5:09 pm | ₹10 | ₹70 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹60
- Issue size
- ₹32.4 Cr
- Lot size
- 2,000
- Opens
- 7 Sept 2026
- Closes
- 9 Sept 2026
- Allotment
- 10 Sept 2026
- Listing
- 15 Sept 2026
- Est. listing price
- ₹61
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Kfin Technologies Ltd.
- Minimum investment
- ₹2,40,000 (2 lots · 4,000 shares)
- Face value
- ₹10 per share
- Issue type
- Fixed Price IPO
- Sale type
- Fresh capital only
- Listing at
- BSE SME
- Refunds
- 11 Sept 2026
- Shares credited
- 11 Sept 2026
- Promoter holding
- 100% before · 67.5% after
- Lead managers
- Corporate Makers Capital Ltd.
Offer documents & links
Subscription by category
As of 9 Sept 2026, 1:23 pm.
Total subscription
1.26x
Full issue details
Details as published for this issue, read 11 Sept 2026, 5:10 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 7 to 9 Sep, 2026 |
|---|---|
| Listing Date | Tue, Sep 15, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price | ₹60 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 56,90,000 shares (agg. up to ₹ 34 Cr) |
|---|---|
| Reserved for Market Maker | 2,90,000 shares (agg. up to ₹ 2 Cr) Prabhat Financial Services Ltd. |
| Fresh Issue (Ex Market Maker) | 54,00,000 shares (agg. up to ₹ 32 Cr) |
| Net Offered to Public | 54,00,000 shares (agg. up to ₹ 32 Cr) |
| Share Holding Pre Issue | 1,18,20,000 shares |
| Share Holding Post Issue | 1,75,10,000 shares |
| BSE Script Code | — |
| ISIN | INE1ET101019 |
IPO Timetable
- IPO Open
- Mon, Sep 7, 2026
- IPO Close
- Wed, Sep 9, 2026
- Allotment
- Thu, Sep 10, 2026
- Refund
- Fri, Sep 11, 2026
- Credit of Shares
- Fri, Sep 11, 2026
- Listing
- Tue, Sep 15, 2026
Issue Reservation
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) | 27,00,000 | 50.00% | 47.45% |
| Retail | 27,00,000 | 50.00% | 47.45% |
| Firm Reservations | |||
| Market Maker | 2,90,000 | — | 5.10% |
| Total | 56,90,000 | 100.00% | 100.00% |
Apana Logistics IPO comprises a total issue size of 56,90,000 shares. The net offer to the public is 54,00,000 shares, after excluding 2,90,000 shares allotted on a firm basis. Of the Net offer 27,00,000 (50.00%) allocated to NII 27,00,000 (50.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4000 | ₹2,40,000 |
| Individual investors (IND) (Max) | 2 | 4000 | ₹2,40,000 |
| HNI (Min) | 3 | 6000 | ₹3,60,000 |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
IPO Subscription Details
About Apana Logistics Ltd.
Incorporated in January 1992, Apana Logistics Limited is engaged in the business of providing logistics support for container handling and transportation. The Company provides a diversified range of logistics services, including container handling at CFSs, ICDs and ports, road transportation, cargo handling at third-party warehouses, and operation and maintenance of truck-trailers and reach stackers. Its fleet includes truck-trailers, reach stackers and cranes, enabling it to provide integrated container handling and transportation solutions.
Apana Logistics serves leading Container Freight Station (CFS), Inland Container Depot (ICD) and port operators in India. Its long-standing relationships with customers, experience in container handling and understanding of regional transportation dynamics enable the Company to provide cost- and time-effective logistics solutions. The Company also actively participates in tenders and follows an aggressive bidding strategy to secure new projects.
As of March 31, 2026, the Company owned and maintained a fleet of 33 truck-trailers, 5 reach stackers and 2 cranes. The Company had 62 permanent employees as of June 30, 2026, comprising personnel across management, accounting and computer, operations, technical, maintenance and support functions.
Competitive Strengths
Assured quality services.
Ability to participate in tenders.
Track record of growth and profitability.
Diverse service offerings and customer base.
Experienced promoters and management team.
Established relationships with CFSs, ICDs and ports.
Integrated container handling and transportation capabilities.
Company Financials (Restated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 36.84 | 28.95 | 25.05 |
| Total Income | 31.07 | 21.61 | 20.33 |
| Profit After Tax | 5.86 | 3.11 | 3.00 |
| EBITDA | 11.32 | 6.15 | 4.63 |
| NET Worth | 20.27 | 14.41 | 11.87 |
| Reserves and Surplus | 8.45 | 2.59 | 9.90 |
| Total Borrowing | 6.30 | 8.00 | 9.26 |
| Amount in ₹ Crore |
Apana Logistics Ltd.'s revenue increased by 44% and profit after tax (PAT) rose by 89% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Logistics Solution Provider
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Sampark India Logistics Ltd. | SME | ₹27.22 Cr | ₹84 | 8.65 | ₹93.45 | +11.25% | ₹95.15 |
| Global Ocean Logistics India Ltd. | SME | ₹30.41 Cr | ₹78 | 12.07 | ₹79.29 | +1.65% | ₹110.00 |
| Neptune Logitek Ltd. | SME | ₹46.62 Cr | ₹126 | 13.76 | ₹95.80 | -23.97% | ₹35.70 |
| Shipwaves Online Ltd. | SME | ₹56.35 Cr | ₹12 | 9.3 | ₹11.40 | -5.00% | ₹3.85 |
| Jayesh Logistics Ltd. | SME | ₹28.63 Cr | ₹122 | 10.75 | ₹117.80 | -3.44% | ₹135.00 |
| Sunsky Logistics Ltd. | SME | ₹16.84 Cr | ₹46 | 15.6 | ₹53.55 | +16.41% | ₹38.49 |
| Dhillon Freight Carrier Ltd. | SME | ₹10.08 Cr | ₹72 | 10.49 | ₹54.72 | -24.00% | ₹33.25 |
| Skyways Air Services Ltd. | Mainboard | ₹582.80 Cr | ₹138 | 25.27 | ₹125.56 | -9.01% | ₹111.19 |
| Shiprocket Ltd. | Mainboard | ₹1,617.48 Cr | ₹97 | -77.6 | ₹143.45 | +47.89% | ₹129.17 |
| Shadowfax Technologies Ltd. | Mainboard | ₹1,907.27 Cr | ₹124 | 1017.96 | ₹109.98 | -11.31% | ₹255.10 |
| Om Freight Forwarders Ltd. | Mainboard | ₹122.31 Cr | ₹135 | 19.56 | ₹85.57 | -36.61% | ₹87.32 |
| Glottis Ltd. | Mainboard | ₹307.00 Cr | ₹129 | 18.38 | ₹83.70 | -35.12% | ₹58.74 |
View More »
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirement of company towards purchase of reach stackers | 25.00 |
| 2 | General corporate purposes | 5.04 |
| 3 | Issue Expenses | 4.10 |
| Total | 34.14 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 33.82% | 23.64% |
| ROCE | 45.00% | 26.57% |
| Debt/Equity | 0.31 | 0.56 |
| RoNW | 33.82% | 23.64% |
| PAT Margin | 19.01% | 14.49% |
| EBITDA Margin | 36.69% | 28.70% |
| NAV | 17.15 | 12.19 |
| Price to Book Value | 3.50 | 4.92 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 4.96 | 3.35 |
| P/E (x) | 12.1 | 17.91 |
| Market Cap at Offer Price | ₹70.92 Cr. | ₹105.06 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 100% | 67.5% |
| Public | — | 32.50% |
| Total | 100% | 100% |
Company Promoter: Pratyaksh Sureka
Apana Logistics IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| NII * | 0.28 | 27,00,000 | 7,64,000 | 0 |
| Individual Investor | 2.23 | 27,00,000 | 60,20,000 | 0 |
| Total | 1.26 | 54,00,000 | 67,84,000 | 1,662 |
The Apana Logistics IPO is subscribed 1.26 times on September 9, 2026 6:53:38 PM (Day 3). The public issue subscribed 2.23 times in the individual investors category, [.] times in the QIB category, and 0.28 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 1,662
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees, Fees Payable to Registrar to the Issue, Fees Payable to Statutory Auditor, Legal Advisors | 0.48 |
| 2 | Underwriting Commission, Selling, marketing and distribution expense | 3.41 |
| 3 | Fees Payable for Advertising and Publishing Expenses, Payment for Printing & Stationery, Postage, etc | 0.08 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.08 |
| 5 | Others (Commission/processing fee for SCSBs, Brokerage and Selling Commission, Sponsor Bank and Banker(s) to the Issue and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses includes marketing expense, event expense etc | 0.05 |
| Total | 4.10 |
IPO Registrar
Kfin Technologies Ltd.
040-79615565
afl.ipo@kfintech.com
IPO Lead Manager(s)
Corporate Makers Capital Ltd.
Contact Details
Apana Logistics Ltd. Address
11A
Rajshree 6
Hastings Park Road
Kolkata, West Bengal , 700027
+91-22-69328885
email@apanalogistics.com
Apana Logistics IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Apana Logistics IPO Allotment Status: Check Allocation Online
HDFC Sky · 11 Sept 2026
Apana Logistics IPO Allotment Status: Check Allocation Online
HDFC Sky · 10 Sept 2026
Apana Logistics to raise INR 34.14 crore through IPO
Prop News Time · 10 Sept 2026
Apana Logistics IPO Day 3 Subscription Status: Issue Booked 1.26 Times
HDFC Sky · 9 Sept 2026
Apana Logistics IPO Day 3: Fully subscribed at 1.26x; retail surges to 2.13x
scanx.trade · 9 Sept 2026
Apana Logistics IPO Day 3 Subscription Status 9 Sep 2026
Univest · 9 Sept 2026
Apana Logistics IPO Allotment Status: 0.46x Subscribed, Check Online
Univest · 9 Sept 2026
Apana Logistics IPO Day 2: Subscribed 0.61x; Retail jumps 80% to 1.12x
scanx.trade · 8 Sept 2026
