The book-built issue, which opened on August 4 and closed on August 6, comprised a fresh issuance of 12.96 lakh shares. It saw a staggering 560.69 times overall subscription, one of the highest oversubscriptions in the SME segment this year. The non-institutional investor (NII) category led the frenzy with 1,017.63 times subscription to its allocation, followed by retail investors at 637.20 times. Qualified institutional buyers (QIBs) subscribed 81.80 times their reserved portion.
Ahmedabad-based BLT Logistics, incorporated in 2011, provides surface transportation and warehousing services to a diverse range of industries.
It operates a fleet of containerised trucks — both owned and sourced from third-party operators — and also runs warehousing facilities catering to sectors such as electronics, retail, and food.
As of March 2024, the company had 90 owned vehicles along with 15 trucks through its subsidiary, Sabarmati Express India.
Financially, the company reported revenue of Rs 49.43 crore in FY25, up 21% from Rs 40.73 crore in the previous year, while profit after tax rose 23% to Rs 3.84 crore from Rs 3.13 crore.Proceeds from the IPO will be used to purchase trucks and ancillary equipment (Rs 3.88 crore), meet working capital requirements (Rs 2.80 crore), and for general corporate purposes.Given the huge subscription levels and a sizeable GMP, market watchers expect an upbeat debut, although they caution that sustaining post-listing gains will depend on delivery volumes, liquidity, and continued investor interest in the SME space.
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