The minimum application size for retail investors is 3,200 shares, requiring an outlay of Rs 2.30 lakh, while HNIs must apply for at least 4,800 shares. The company has reserved about 5% of the issue for the market maker, with the rest divided almost equally between retail and non-institutional investors.
Shares are expected to be allotted on October 3, with a tentative listing date of October 7 on the BSE SME platform. Ahead of the launch, the IPO is trading at a flat grey market premium of zero, pointing to muted expectations for listing gains.
Company profile
Dhillon Freight Carrier, incorporated as a logistics solutions provider, focuses on road transportation services. The company operates in parcel and less-than-truck-load (LTL) services, contract logistics, and fleet rental or leasing.
It caters to both B2B and B2C customers across West Bengal, Bihar, Delhi, and Uttar Pradesh, serving diverse industries such as apparel, engineering goods, footwear, paints, and electrical hardware.
The company has a fleet of 62 vehicles and runs a network of 22 booking offices, pickup facilities, warehouses, delivery offices, and agency partnerships. It has also begun incorporating electric three-wheelers into its fleet, signaling an effort toward sustainable transport solutions.
Financial performance
Financially, Dhillon Freight Carrier has shown modest revenue growth alongside stronger profitability. Revenue increased 2% year-on-year to Rs 25.22 crore in FY25, while profit after tax jumped 58% to Rs 1.73 crore from Rs 1.09 crore the previous year.
Objects of the IPO
The company plans to deploy Rs 7.67 crore of the proceeds towards the purchase and fabrication of new transport vehicles, expanding its operational capacity. The remainder will be used for general corporate purposes.
Outlook
With no premium in the grey market, listing gains are uncertain, and investor sentiment may depend largely on subscription trends.
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