Apana Logistics IPO is a fixed-price SME public issue of Apana Logistics Limited. The company provides logistics solutions focused on the handling and transportation of containers. Its services include container handling at Container Freight Stations (CFS), Inland Container Depots (ICD) and ports, road transportation, cargo handling at third-party warehouses, and repair, operation and maintenance of truck-trailers.
The Apana Logistics IPO comprises an entirely fresh issue of 56,90,000 equity shares with a face value of ₹10 each at a fixed issue price of ₹60 per share. The total issue size is ₹34.14 crore. There is no Offer for Sale component, meaning the entire issue proceeds are intended to go to the company, subject to issue expenses and the stated objects of the issue.
The company proposes to use ₹25 crore of the IPO proceeds towards purchasing reach stackers. The remaining proceeds are proposed to be used for general corporate purposes and related issue requirements. The equity shares are proposed to be listed on the BSE SME platform.
Apana Logistics has been operating since 1992 and follows a hybrid asset model, combining its own logistics equipment with hired or third-party resources. Its owned fleet includes truck-trailers and reach stackers, supporting its container-handling and transportation operations.
Table of Contents
Apana Logistics IPO Details Information
| IPO Details | Information |
|---|---|
| IPO Name | Apana Logistics IPO |
| Company Name | Apana Logistics Limited |
| IPO Type | Fixed Price Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Issue Price | ₹60 Per Share |
| Issue Size | ₹34.14 Crore |
| Total Issue Shares | 56,90,000 Equity Shares |
| Fresh Issue | 56,90,000 Equity Shares |
| Offer for Sale | Nil |
| Market Maker Reservation | 2,90,000 Equity Shares |
| Net Issue to Public | 54,00,000 Equity Shares |
| IPO Open Date | 7 September 2026 |
| IPO Close Date | 9 September 2026 |
| Basis of Allotment | 10 September 2026 |
| Refund Initiation | 11 September 2026 |
| Shares Credited to Demat | 11 September 2026 |
| Listing Date | 15 September 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 2,000 Equity Shares |
| Minimum Application | 4,000 Shares / 2 Lots |
| Minimum Investment | ₹2,40,000 |
| Registrar | KFin Technologies Limited |
| Lead Manager | Corporate Makers Capital Limited |
| Market Maker | Prabhat Financial Services Limited |
The IPO comprises 56,90,000 equity shares offered at ₹60 per share, aggregating to ₹34.14 crore. Of this, 2,90,000 shares are reserved for the market maker, leaving a net issue of 54,00,000 shares for public investors.
Apana Logistics IPO Dates & Timeline
| IPO Event | Date |
|---|---|
| Anchor Investor / Issue Preparation | To be updated |
| IPO Opening Date | 7 September 2026 |
| IPO Closing Date | 9 September 2026 |
| Basis of Allotment | 10 September 2026 |
| Initiation of Refunds / ASBA Unblocking | 11 September 2026 |
| Shares Credited to Demat | 11 September 2026 |
| Listing Date | 15 September 2026 |
The issue is scheduled to open on 7 September 2026 and close on 9 September 2026. The basis of allotment is scheduled for 10 September 2026, followed by refund initiation and demat credit on 11 September 2026. The proposed listing date is 15 September 2026 on BSE SME.
Apana Logistics IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail / Individual Investors | 50% of Net Issue |
| Market Maker | 2,90,000 Shares |
| Total Issue | 56,90,000 Shares |
The available issue synopsis confirms a market maker reservation of 2,90,000 shares and a net issue of 54,00,000 shares. Detailed category-wise reservation should be verified against the final offer document and exchange notification.
Apana Logistics IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Investors – Minimum | 2 | 4,000 | ₹2,40,000 |
| Individual Investors – Maximum | 2 | 4,000 | ₹2,40,000 |
| S-HNI – Minimum | 3 | 6,000 | ₹3,60,000 |
The market lot is 2,000 shares. However, the minimum application is 4,000 shares, equivalent to two lots. At the issue price of ₹60, the minimum application amount is ₹2,40,000. Further bids are required to be made in multiples of 2,000 shares.
About Apana Logistics Limited
Apana Logistics Limited is a logistics services company engaged in container handling and transportation activities. The company provides services to CFS, ICD and port operators and also undertakes road transportation, cargo handling at third-party warehouses and truck-trailer repair, operation and maintenance services.
The company was established in 1992 and has developed an operating model combining owned logistics assets with third-party resources. As reported in available company information, its fleet includes 33 truck-trailers and five reach stackers, along with other equipment and hired resources.
Apana Logistics serves customers across several Indian states, including Maharashtra, Karnataka, Gujarat, Goa, West Bengal, Andhra Pradesh and Madhya Pradesh. Its operations are supported by tender-based contracts with CFS, ICD and port operators.
Business Operations
Apana Logistics operates across multiple areas of container logistics and transportation.
- Container Handling: The company provides container-handling services at CFS, ICD and port facilities.
- Road Transportation: It operates truck-trailers for transportation of containers and related cargo.
- Cargo Handling: The company undertakes cargo-handling activities at third-party warehouses.
- Reach Stackers: Reach stackers are used for lifting, moving and stacking containers at logistics facilities.
- Truck-Trailer Operations: The company provides repair, operation and maintenance services for truck-trailers.
- Hybrid Asset Model: Operations combine owned equipment with hired and third-party resources.
- Tender-Based Contracts: The company serves CFS, ICD and port operators through contracts and tenders.
- Multi-State Presence: Its operations extend across several important logistics and industrial markets in India.
Industry Overview
India’s logistics sector plays an important role in supporting domestic manufacturing, international trade, ports, warehousing and supply chains. Containerised transportation is particularly important for India’s EXIM trade because containers connect ports with inland logistics facilities and customers.
Apana Logistics operates within the container-handling and transportation segment. Its business is linked to container volumes, port activity, CFS and ICD utilisation, road freight demand and broader trade activity.
The logistics industry is also moving towards greater integration of transportation, warehousing, technology and asset utilisation. Government initiatives focused on improving logistics infrastructure, multimodal transportation and supply-chain efficiency may support the long-term development of the sector.
However, logistics remains a competitive and operationally demanding industry. Fuel costs, equipment utilisation, labour availability, maintenance expenses, road transportation costs, customer concentration and fluctuations in trade volumes can affect profitability.
Business Strategy
Apana Logistics intends to expand its operational capacity by investing in additional reach stackers.
The company has earmarked ₹25 crore from the IPO proceeds for the purchase of reach stackers. These machines are important for container handling operations and can increase the company’s owned equipment capacity.
Increasing ownership of handling equipment can potentially reduce reliance on third-party equipment and improve operational control. It may also help the company participate in additional contracts requiring dedicated container-handling equipment.
The company also aims to continue serving CFS, ICD and port operators through its logistics services. Its hybrid asset approach allows it to combine owned equipment with external resources depending on operational requirements.
Apana Logistics IPO Financial Information
Apana Logistics has reported growth in revenue and profitability across the recent financial periods.
According to available financial information, revenue from operations increased from ₹20.10 crore in FY2024 to ₹21.44 crore in FY2025 and ₹30.85 crore in FY2026. PAT increased from ₹3.00 crore in FY2024 to ₹3.11 crore in FY2025 and ₹5.86 crore in FY2026.
Apana Logistics Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹20.10 Crore | ₹21.44 Crore | ₹30.85 Crore |
| Other Income | ₹0.23 Crore | ₹0.18 Crore | ₹0.22 Crore |
| Total Income | ₹20.33 Crore | ₹21.62 Crore | ₹31.07 Crore |
| Total Expenses | ₹16.21 Crore | ₹17.24 Crore | ₹21.84 Crore |
| Profit Before Tax | ₹4.12 Crore | ₹4.38 Crore | ₹9.23 Crore |
| Profit After Tax | ₹3.00 Crore | ₹3.11 Crore | ₹5.86 Crore |
| Net Worth | ₹11.87 Crore | ₹14.41 Crore | ₹20.27 Crore |
| Borrowings | ₹9.26 Crore | ₹8.00 Crore | ₹6.30 Crore |
| Total Assets | ₹25.05 Crore | ₹28.95 Crore | ₹36.84 Crore |
The financial figures show improvement in revenue, profitability and net worth during the period. Borrowings also declined from ₹9.26 crore in FY2024 to ₹6.30 crore in FY2026.
Apana Logistics IPO Key Performance Indicators (KPIs)
| KPI | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Revenue from Operations | ₹30.85 Crore | ₹21.44 Crore | ₹20.10 Crore |
| PAT | ₹5.86 Crore | ₹3.11 Crore | ₹3.00 Crore |
| PAT Margin | 19.01% | 14.49% | 14.93% |
| EBITDA Margin | 36.69% | 28.70% | — |
| ROE / RoNW | 33.82% | 23.64% | — |
| ROCE | — | 26.57% | — |
| Debt to Equity | 0.31 | 0.56 | — |
| EPS | ₹4.96 | ₹2.63 | ₹2.54 |
| NAV | ₹17.15 | ₹12.19 | — |
| P/E at Issue Price | 12.10x | — | — |
Available IPO financial data indicates that FY2026 EPS was ₹4.96 and the P/E at the issue price of ₹60 was approximately 12.10x. The FY2026 PAT margin was approximately 19.01%.
Objects of the Apana Logistics IPO
The company proposes to utilise the IPO proceeds primarily for expansion of its logistics equipment base.
| S. No. | Objects of the Issue | Amount |
|---|---|---|
| 1 | Purchase of reach stackers | ₹25.00 Crore |
| 2 | General Corporate Purposes | Balance amount |
| 3 | Issue-related requirements | As applicable |
The largest allocation, ₹25 crore, is intended for the purchase of reach stackers. The remaining proceeds are proposed to be used for general corporate purposes and applicable issue-related requirements.
The proposed investment is directly connected to the company’s core container-handling business. Additional owned equipment could help expand operational capacity and reduce dependence on hired equipment.
Apana Logistics IPO Listing Performance
The Apana Logistics IPO is scheduled to list on the BSE SME platform on 15 September 2026. As of 5 September 2026, the shares have not yet been listed, so the actual listing price and listing gain are not available.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 15 September 2026 |
| Issue Price | ₹60 |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The actual listing performance should be updated after trading begins on the scheduled listing date.
Apana Logistics IPO Subscription Status
The Apana Logistics IPO is scheduled to open on 7 September 2026 and close on 9 September 2026. As of 5 September 2026, the issue had not yet opened, so no official subscription figure was available.
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Investors | To be updated |
| Total Subscription | To be updated |
Subscription figures should be updated from exchange data during the bidding period and after the issue closes.
Apana Logistics IPO Review
Apana Logistics operates in a specialised part of India’s logistics industry, with its business focused on container handling, transportation and related services. The company has been operating since 1992 and has established relationships with CFS, ICD and port operators.
One of the positive factors is the company’s recent improvement in financial performance. Revenue from operations increased from ₹21.44 crore in FY2025 to ₹30.85 crore in FY2026, while PAT increased from ₹3.11 crore to ₹5.86 crore.
The company’s debt position has also improved. Borrowings declined from ₹9.26 crore in FY2024 to ₹6.30 crore in FY2026, while net worth increased from ₹11.87 crore to ₹20.27 crore over the same period.
The proposed use of IPO proceeds is another important factor. ₹25 crore is earmarked for purchasing reach stackers, which directly supports the company’s core operations. The investment could increase owned handling capacity and support future business expansion.
However, the company operates in a competitive logistics industry and is exposed to fluctuations in trade volumes, transportation costs, fuel costs and equipment utilisation.
Customer concentration is also an important consideration. Available company information indicates that a significant proportion of revenue is generated from a limited number of customers, which can increase the impact of losing or reducing business from a major customer.
The business is also capital intensive because logistics operations require vehicles, reach stackers and other equipment. Purchasing additional assets creates an opportunity for capacity expansion but also increases the importance of maintaining high equipment utilisation.
Overall, Apana Logistics IPO offers exposure to an established container logistics operator with improving financial performance and a clearly defined capital expenditure plan. Investors should nevertheless evaluate customer concentration, competitive pressure, equipment utilisation, working-capital requirements and the risks associated with SME-listed companies before making an investment decision.
Apana Logistics IPO Strengths
- Established operating history dating back to 1992.
- Specialised container logistics and transportation business.
- Services include container handling, road transportation and warehouse cargo handling.
- Existing fleet of truck-trailers and reach stackers.
- Relationships with CFS, ICD and port operators.
- Operations spread across multiple Indian states.
- Revenue increased to ₹30.85 crore in FY2026.
- PAT increased to ₹5.86 crore in FY2026.
- Borrowings declined to ₹6.30 crore in FY2026.
- IPO proceeds are primarily directed towards productive capital expenditure.
- ₹25 crore is earmarked for purchasing reach stackers.
- Entire IPO is a fresh issue, with no Offer for Sale component.
Apana Logistics IPO Risk Factors
- Customer concentration can affect revenue stability.
- Logistics operations are exposed to fluctuations in India’s EXIM and container trade volumes.
- The company operates in a competitive logistics market.
- Fuel and transportation cost increases can affect operating margins.
- Equipment-intensive operations require continuous maintenance and capital expenditure.
- The proposed expansion depends on efficient utilisation of newly purchased reach stackers.
- Tender-based contracts may not always be renewed or may face competitive bidding pressure.
- Dependence on key customers and contracts can affect business continuity.
- Working-capital requirements may increase as the business expands.
- The company operates in multiple geographically dispersed locations, creating operational complexity.
- SME-listed shares can have lower liquidity than larger mainboard companies.
- The fixed-price IPO structure does not provide the same price-discovery mechanism as a book-built issue.
Apana Logistics IPO Promoters
The promoters of Apana Logistics Limited include Pratyaksh Sureka, Adarsh Sureka and Krishna Sureka. The available IPO synopsis identifies these individuals as the promoters of the company.
Apana Logistics IPO Promoters Details
| Promoter | Status |
|---|---|
| Pratyaksh Sureka | Promoter |
| Adarsh Sureka | Promoter |
| Krishna Sureka | Promoter |
The available sources identify the three individuals as promoters. Detailed individual shareholding should be updated from the final RHP/offer document where required.
Apana Logistics IPO Management Team
Apana Logistics is managed by a team responsible for its logistics operations, finance, administration and corporate compliance.
| Name / Management Particular | Designation |
|---|---|
| Pratyaksh Sureka | Promoter |
| Adarsh Sureka | Promoter |
| Krishna Sureka | Promoter |
| Other Key Management Personnel | To be updated from final offer document |
The available IPO synopsis confirms the promoters but does not provide sufficient verified information in the retrieved material to populate a complete management-team table. Therefore, additional names have not been guessed.
Apana Logistics IPO Registrar Details
KFin Technologies Limited is the registrar to the Apana Logistics IPO. The registrar handles application processing, allotment-related activities, refunds and credit of allotted shares to investors’ demat accounts.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://www.kfintech.com/ |
| IPO Allotment Status | https://ipostatus.kfintech.com/ |
| Contact | To be updated |
| To be updated |
Investors should use the official KFin Technologies IPO status portal after the basis of allotment is finalised.
Apana Logistics IPO Lead Manager Details
Corporate Makers Capital Limited is the Book Running Lead Manager for the Apana Logistics IPO.
| Particular | Details |
|---|---|
| Lead Manager | Corporate Makers Capital Limited |
| Role | Book Running Lead Manager |
| Website | https://www.corporatemakers.com/ |
| SEBI Registration Details | To be updated |
| Contact Details | To be updated |
Apana Logistics Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Apana Logistics Limited |
| Registered Office | 11A Rajshree 6, Hastings Park Road, Kolkata, West Bengal – 700027 |
| Telephone | +91-33-35497168 / +91-33-35125024 |
| [email protected] | |
| Website | https://apanalogistics.com/ |
| CIN | To be updated |
The registered office, telephone number, email address and company website are reported in the IPO synopsis.
How to Check Apana Logistics IPO Allotment Status
The basis of allotment for Apana Logistics IPO is scheduled for 10 September 2026. Investors can check their allotment status after the registrar publishes the results.
Through KFin Technologies Limited
- Visit the official KFin Technologies IPO status portal.
- Select Apana Logistics IPO.
- Choose the appropriate search method, such as PAN or application number.
- Enter the required details.
- Submit the information to view the allotment result.
Official allotment portal: https://ipostatus.kfintech.com/
Through BSE
Investors can also check issue-related information through the official BSE website after the applicable allotment and listing information becomes available.
The shares are proposed to be listed on BSE SME.
Apana Logistics IPO Conclusion
Apana Logistics IPO is a ₹34.14 crore fixed-price SME issue consisting entirely of a fresh issue of 56,90,000 equity shares at ₹60 per share. The company operates in container handling, road transportation, cargo handling and related logistics services.
The company’s recent financial performance has improved, with revenue from operations increasing from ₹20.10 crore in FY2024 to ₹30.85 crore in FY2026. PAT increased from ₹3.00 crore to ₹5.86 crore during the same period.
The primary use of IPO proceeds is also directly connected to business expansion. The company plans to spend ₹25 crore on purchasing reach stackers, which could increase its owned equipment capacity and support future container-handling operations.
At the same time, investors should carefully assess customer concentration, competitive intensity, equipment utilisation, transportation costs, working-capital requirements and the risks associated with SME stocks.
The IPO is scheduled to open on 7 September 2026 and close on 9 September 2026, with allotment expected on 10 September 2026 and listing on BSE SME on 15 September 2026.
GMP figures are unofficial and can change frequently. They should not be treated as an indication or guarantee of the actual listing price or investment return.
Apana Logistics IPO FAQs
What is Apana Logistics IPO?
Apana Logistics IPO is a fixed-price SME public issue of Apana Logistics Limited comprising 56,90,000 fresh equity shares at ₹60 per share, aggregating to ₹34.14 crore.
What is the price of Apana Logistics IPO?
The fixed issue price of Apana Logistics IPO is ₹60 per equity share. The face value is ₹10 per share.
What is the issue size of Apana Logistics IPO?
The total issue size is ₹34.14 crore, comprising 56,90,000 fresh equity shares. There is no Offer for Sale component.
What is the lot size of Apana Logistics IPO?
The lot size is 2,000 equity shares. However, the minimum application is 4,000 shares, equivalent to two lots, requiring an investment of ₹2,40,000 at the issue price.
When will Apana Logistics IPO open and close?
The IPO is scheduled to open on 7 September 2026 and close on 9 September 2026.
What is the allotment date of Apana Logistics IPO?
The basis of allotment is scheduled for 10 September 2026. Refunds and demat credit are scheduled for 11 September 2026.
When will Apana Logistics IPO be listed?
Apana Logistics shares are scheduled to list on 15 September 2026 on the BSE SME platform.
Who is the registrar of Apana Logistics IPO?
KFin Technologies Limited is the registrar to the Apana Logistics IPO.
Who is the lead manager of Apana Logistics IPO?
Corporate Makers Capital Limited is the Book Running Lead Manager for the IPO.
Who are the promoters of Apana Logistics Limited?
The promoters identified in the available IPO synopsis are Pratyaksh Sureka, Adarsh Sureka and Krishna Sureka.
What does Apana Logistics Limited do?
Apana Logistics provides logistics solutions for container handling and transportation. Its services include CFS, ICD and port container handling, road transportation, cargo handling at third-party warehouses, and truck-trailer repair, operation and maintenance.
How will Apana Logistics use the IPO proceeds?
The company plans to use ₹25 crore of the IPO proceeds to purchase reach stackers. The remaining funds are intended for general corporate purposes and applicable issue requirements.
What are the financial results of Apana Logistics?
For FY2026, Apana Logistics reported revenue from operations of ₹30.85 crore and PAT of ₹5.86 crore. Its FY2026 EPS was ₹4.96.
What is the GMP of Apana Logistics IPO?
GMP is an unofficial grey-market indicator and is not part of the formal IPO process. Any GMP figure should be treated as indicative only and should not be considered a guaranteed listing price or return.
Is Apana Logistics IPO a Mainboard IPO?
No. Apana Logistics IPO is an SME IPO proposed to be listed on the BSE SME platform.
