Apana Logistics IPO
Apana Logistics LtdSME
This IPO has listed.
- Open date
- 7 Sep 2026
- Close date
- 9 Sep 2026
- Min. Investment
- ₹2,40,000
- Lot Size
- -
- Fresh Issue
- ₹34.14 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers0.00x
- Non-Institutional Investors0.00x
- Retail-Individual Investors0.00x
- Total0.00x
Schedule
- Completed: IPO open date7 Sep 2026
- Completed: IPO close date9 Sep 2026
- Completed: Allotment date10 Sep 2026
- Completed: Funds unblock or debit11 Sep 2026
- Completed: Tentative listing date15 Sep 2026
About
Promoter shareholding in Apana Logistics Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Pratyaksh Sureka | 1,05,73,800 | 89.46% | 1,05,73,800 | 60.39% |
| Adarsh Sureka | 1,18,200 | 1.00% | 1,18,200 | 0.68% |
| Krishna Shrawan Sureka | 10,08,000 | 8.53% | 10,08,000 | 5.76% |
| Aanchal Pratyaksh Sureka | 1,18,200 | 1.00% | 1,18,200 | 0.68% |
| Bhani Ram Sureka | 600 | 0.01% | 600 | 0.00% |
| Bimla Devi Sureka | 600 | 0.01% | 600 | 0.00% |
| Shrawan Kumar Sureka | 600 | 0.01% | 600 | 0.00% |
Apana Logistics IPO Strengths & Risks
- Diverse service offering and customer base.
- Ability to participate in tenders.
- Assured quality services.
- Track record of growth and profitability.
- Promoters experience and track record.
- Risks Relating to the Business: The company depends on a limited number of key customers for a majority of its revenues, which exposes the company to a high risk of customer concentration. A decrease in the revenues its derives from them could materially and adversely affect the company's business, results of operations, cash flows and financial condition.
- Risks Relating to the Business: The company depends on its network partners, third-party service providers and vendors/suppliers in certain aspects of the company operations and unsatisfactory services provided by them or failures to maintain relationships with them could disrupt its operations.
- Risks Relating to the Business: The company is unable to trace some of its historical records including minutes of the Board and Shareholders meetings and corresponding form filings. While the company has conducted a search with the RoC, in respect of the unavailability of such forms and other records, its cannot assure you that such forms or records will be available at all or any time in the future. Further there have been certain instances of non-compliances in respect of ROC filing or payments. Any penalty or action taken by any regulatory authorities in future for non-compliance with provisions of all applicable law and other law could impact on the financial position of the Company to that extent. Further, few form are not available in the company records.
- Risks Relating to the Business: Significant portion of the company's revenue from operations for the period ended Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively are from related parties. Further, the company has in the past entered into other related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with its shareholders and Directors.
- Risks Relating to the Business: The company is dependent on the performance of industries in which its customers operates, particularly Container Freight Station (CFS) and Inland Container Depots (ICD), and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work the company undertake or the price at which its offer the company services.
- Risks Relating to the Business: Certain of the company's Directors are involved in one or more ventures which are in the same line of business as that of the Company.
- Risks Relating to the Business: The company operations are dependent on functioning of its vehicles and material handling equipment's and any breakdown, mishaps or accidents could result in a loss or slowdown in operations and could also cause damage to life and property.
- Risks Relating to the Business: There may be delays or defaults in payment by the company's customers or the tightening of payment periods by third- party service providers which could negatively affect its cash flows. As a result, the company experience significant working capital requirements and its inability to meet the company's working capital requirements may materially and adversely affect its business, cash flows and financial condition.
- Risks Relating to the Business: The company currently does not hold any registered Intellectual Property Rights in its name, and this may effect the company's ability to obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
- Risks Relating to the Business: The company's business is operating under various laws which requires it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business and the company's inability to obtain, maintain or renew requisite statutory and regulatory permits and approvals for its business operations could materially and adversely affect the company's business, prospects, results of operations and financial condition.
- Risks Relating to the Business: The company generates a substantial portion of revenue from the regions of Maharashtra, Karnataka, Goa, West Bengal, Andhra Pradesh, Madhya Pradesh and Gujarat. Any adverse developments affecting its operations in such regions could have an adverse impact on the company's revenue and results of operations.
- Risks Relating to the Business: The company does not verify the contents of the goods handled and transported by it, thereby exposing the company to the risks associated with the handling and transportation of goods in violation of applicable regulations.
- Risks Relating to the Business: Its may be unable to successfully implement the company's business plan and growth strategies, which could materially and adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company is highly dependent on its Promoters, Key Managerial Personnel and the company's Senior Management Personnel and any inability on its part to retain or find suitable replacements for such personnel could adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company's business requires it to obtain and renew certain registrations, licenses, and permits in the ordinary course of the company's business. Its inability to obtain, renew or maintain the company's statutory and regulatory permits and approvals required to operates its business may have a material adverse effect on the company's business, financial condition and results of operations.
- Risks Relating to the Business: The Company and Promoter and Promoters Group are party to certain litigation and claims. Any adverse decision may make it liable to liabilities/penalties and may adversely affect the company's reputation, business and financial status.
- Risks Relating to the Business: The company's lenders have charge over its movable properties (vehicles) in respect of finance availed by the company.
- Risks Relating to the Business: The company's Promoter and Promoters Group have extended their personal guarantees with respect to various loan facilities availed by the Company. Revocation of any or all of these personal guarantees may adversely affect its business operations and financial condition.
- Risks Relating to the Business: The company has incurred borrowings from commercial banks and NBFCs and any non-compliance with repayment and other covenants in its financing agreements could adversely affect the company's business and financial condition.
- Risks Relating to the Business: The company has certain contingent liabilities that may adversely affect its financial condition.
- Risks Relating to the Business: The objects of the Offer have not been appraised by any bank or financial institution and the company cannot assure you that the objects of the Offer will be achieved within the expected time frame, or at all, and any variation in the utilization of the Net Proceeds would be subject to certain compliance requirements, including prior shareholders' approval.
- Risks Relating to the Business: The company intends to utilize a portion of the Net Proceeds for funding its capital expenditure requirements, which may not result in growth. The company is yet to place orders or enters into definitive agreements with the vendors in relation to such capital expenditure requirements.
- Risks Relating to the Business: The company's Registered office and corporate office are not owned by it but are rented and on leave and licenses basis. Any adverse impact on the title or ownership rights of the owner or breach of the terms or non-renewal of the lease agreement on commercially favourable terms or at all may lead to disruptions and may materially and adversely impact the company's business, financial condition, results of operations and cashflows.
- Risks Relating to the Business: The company's Promoters and Promoter Group will be able to exercise significant influence and control over its operations after the issue and may have interests that are different from those of the company's other shareholders.
- Risks Relating to the Business: The company's insurance coverage may not adequately protect it against potential risk, and this may have a material adverse effect on the company's business.
- Risks Relating to the Business: The Company had negative cash flows during certain fiscal years in relation to its investing and financing activities. Negative cash flows in the future would adversely affect the company's results of operations and financial condition.
- Risks Relating to the Business: There has been instance of delayed filings of return and depositing of statutory dues with regulatory authorities.
- Risks Relating to the Business: The company is subject to various risks associated with transportation and the company may faces claims relating to loss or damage to goods, personal injury claims or other operating risks that are not adequately insured.
- Risks Relating to the Business: Fraud, theft, employee negligence or similar incidents may adversely affect the company's results of operations and financial condition.
- Risks Relating to the Business: The company's business is manpower intensive and its continued success and ability to meet future business challenges depends on the company and its network partners'/ third-party service providers' ability to attract, recruit and retain experienced, talented and skilled professionals.
- Risks Relating to the Business: The Company may not be able to deliver the cargo on timely basis due to which its could become liable to claims by the company's customers, suffer adverse publicity and incur substantial cost as result of deficiency in its service which could adversely affect the company's results of operations.
- Risks Relating to the Business: Inability to maintain adequate internal controls may affect the company's ability to effectively manage its operations, resulting in errors or information lapses.
- Risks Relating to the Business: Some of the company's Promoters as well as some Directors on its Board and their relatives hold Equity Shares and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Risks Relating to the Business: Industry information included in this Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate. Further, neither the company nor the Lead Manager have independently verified certain data in this Prospectus.
- Risks Relating to the Business: The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- Risks Relating to the Business: There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares for the company's Promoters may be lower than the Issue Price.
- Risks Relating to the Business: The company operations may be subject to strikes and work stoppages by its employees and are also susceptible to risks relating to compliance with labour laws, either of which could result in an increase in the company's employee benefits expense impacting its profitability.
- Risks Relating to the Business: The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of reach stackers ("Vehicles"). In the event of any delay in placing the orders, or in the event the vendors are not able to provide the vehicles in a timely manner, or at all, the same may result in time and cost over-runs.
- Risks Relating to the Business: The company has witnessed a reduction in its revenue from operations in the past, from Rs. 2,714.18 lakhs in Fiscal 2023 to Rs.2,009.64 lakhs in Fiscal 2024. There can be no assurance that the company will not witness reduction in its revenue from operations in future.
- Risks Relating to the Business: There is no guarantee that the company's Equity Shares will be listed on the Stock Exchanges in a timely manner or at all.
- Risks Relating to the Business: The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Risks Relating to the Business: There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- Risks Relating to the Business: None of the company's Directors have any prior experience of being a Director in any other listed Company in India.
- Risks Relating to the Business: Any future unusual or infrequent events or transactions may adversely affect the company's financial performance.
