Tejas Cargo IPO Allotment Status

Summary

Tejas Cargo India Limited, established in March 2021, has rapidly grown into a significant player in the logistics sector, specializing in supply chain transportation services across India. Operating with a modern fleet of 1,131 vehicles (913 container trucks and 218 trailers) and a network of twenty-three branches nationwide, the company has demonstrated impressive operational capabilities by completing over 58,943 trips in the first half of fiscal 2024. Their workforce of 284 employees as of September 2024 supports their comprehensive Full Truck Load (FTL) services to diverse sectors including logistics, steel, e-commerce, FMCG, and white goods.

Tejas Cargo IPO comes with a total issue size of ₹105.84 crore, which is entirely a fresh issue of 63.00 lakh shares. The IPO opened on February 14, 2025, and closed on February 18, 2025. The allotment date for the Tejas Cargo IPO is expected to be finalized on Wednesday, February 19, 2025.

Steps to Check Tejas Cargo IPO Allotment Status on Registrar Site

• Visit the Bigshare Services Pvt Ltd website
• Select "Tejas Cargo IPO" from the dropdown menu on the allotment status page
• Enter your PAN ID, Demat Account Number, or Application Number in the designated field
• Complete the captcha verification process and click on the "Submit" button to view your allotment status

Steps to Check Tejas Cargo IPO Allotment Status on NSE

• Navigate to the NSE SME IPO Allotment Status Page
• Choose "Tejas Cargo IPO" from the list of active IPOs in the dropdown menu
• Input your Application Number and PAN ID in the required fields
• Verify the captcha and click "Search" to check your allotment status

Tejas Cargo IPO Subscription Status 

Tejas Cargo IPO received moderate investor interest, being subscribed 1.15 times overall. Here is a category-wise breakdown of the subscription as of 6:19:59 PM on February 18, 2025:

• Retail Category: 1.09 times
• Qualified Institutional Buyers (QIB): 1.33 times
• Non-Institutional Investors (NII): 1.07 times

As of 6:19:59 PM

Utilization of IPO Proceeds 

The funds raised through the IPO will be utilized as follows:

• Fleet Expansion: Purchase of additional trailers
• Working Capital: Meeting working capital requirements
• Debt Reduction: Repayment of borrowings
• General Corporate Purposes: Supporting various business initiatives

Tejas Cargo IPO - Listing Details 

The shares are scheduled to list on February 24, 2025, on NSE SME. The subscription rate of 1.15 times shows modest investor interest in Tejas Cargo's business model and growth prospects. The company has shown strong revenue growth with ₹255.09 crore in revenue and profit after tax of ₹8.75 crore for the period ended September 30, 2024. While their modern fleet, nationwide presence, and heavy asset ownership model are strengths, investors should note the competitive nature of the logistics sector and the company's recent rapid growth in profitability when considering the investment.