The fixed-price issue will remain open for subscription until December 17 and is scheduled to list on the BSE SME platform on December 22. The entire issue is a fresh offering of 37 lakh equity shares, with no offer-for-sale component.
Retail investors are required to apply for a minimum of 2,000 shares, translating into an investment of Rs 2.52 lakh, while high-net-worth investors must bid for at least 3,000 shares worth Rs 3.78 lakh. Nearly 95% of the net issue is evenly split between retail and non-institutional investors, with the remaining portion reserved for the market maker.
Neptune Logitek operates as an integrated logistics solutions provider offering freight forwarding, customs clearance, air freight transportation, door-to-door multimodal coastal forwarding, and road and rail transportation services. The company follows an asset-driven model, operating largely on its own fleet, and supports operations with in-house maintenance facilities and direct procurement of fuel through a captive petrol pump. It also uses GPS-enabled fleet management systems and real-time vehicle tracking to improve operational efficiency.
As of March 2025, Neptune Logitek operated 199 fleets and fleet operators and maintained nine branch offices across India. The logistics sector has seen steady growth in recent years, driven by rising manufacturing activity, infrastructure spending and the expansion of e-commerce, although competition remains intense, particularly among mid-sized fleet operators.
On the financial front, Neptune Logitek reported revenue growth of 48% in FY25, while profit after tax rose sharply to Rs 9.16 crore from near break-even levels a year earlier. EBITDA stood at Rs 21.38 crore in FY25, up from Rs 9.74 crore in FY24.
The company plans to use the IPO proceeds primarily for capital expenditure towards the purchase of trucks and ancillary equipment, repayment of a portion of its borrowings, and general corporate purposes. Management has said the expansion of its owned fleet will help improve service reliability and margins over the medium term.The absence of a GMP reflects cautious sentiment rather than outright pessimism, especially as investors have become more valuation-conscious in the SME segment. The company’s performance on listing day is likely to hinge on broader market conditions and the depth of subscription over the three-day bidding window.
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