Dedicated Cargo Care Set to Launch IPO, Aims for ₹25 Crore in India’s Thriving Logistics Sector
Admin Committed Cargo Care, a prominent provider of cargo management solutions, has announced its plans to launch an initial public offering (IPO) from this Friday through next Tuesday, with the primary objective of raising ₹25 crore. The company has disclosed that it intends to issue a total of 32.44 lakh fresh equity shares, each priced at ₹77, as per the information unveiled on Thursday.
For the fiscal year 2023, the firm reported an impressive revenue of ₹122.4 crore. It also achieved a net profit of ₹5.33 crore. (Note: ₹1 crore is approximately equivalent to USD 120,000.) These strong financial figures highlight the company’s robust position in the industry.
The funds generated through the IPO will be strategically allocated to meet various corporate needs, with a significant focus on bolstering working capital requirements.
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Managing the IPO process is Fedex Securities, while Bigshare Services has been appointed as the registrar. Notably, Committed Cargo Care has allocated 50% of the IPO offering to retail investors, emphasizing its dedication to fostering broad-based ownership within its shareholder base.
Following the scheduled allotment on October 13, investors can anticipate the company’s shares to be listed on the NSE SME platform on October 18, marking an important milestone in its journey towards growth and expansion in the logistics sector.
