Tejas Cargo IPO - Day 3 Subscription at 0.77 Times

Tejas Cargo's initial public offering (IPO) has shown measured progress through its three-day subscription period. The ₹105.84 crore IPO has witnessed steady improvement in demand, with subscription rates advancing from 0.32 times on day one, strengthening to 0.71 times on day two, and reaching 0.77 times by 11:35 AM on the final day, demonstrating gradual investor interest in this logistics and transportation services provider.

Tejas Cargo IPO has already secured substantial institutional backing through its anchor book of ₹29.82 crores, and this foundation has been complemented by notable QIB participation at 1.26 times subscription. This institutional confidence is particularly significant given the company's position as a leading provider of express road transportation services with a modern fleet of over 1,131 vehicles serving diverse sectors across India.
 

The overall response has shown varied interest across investor categories, with total applications reaching 2,090. While the retail segment has achieved 0.79 times subscription and the NII portion stands at 0.09 times, the cumulative bid amount of ₹54.53 crores reflects strategic evaluation by investors of this logistics company's asset-heavy business model and growth prospects in India's expanding transportation sector.

Subscription Status of Tejas Cargo IPO:

Here are the subscription details for Tejas Cargo IPO as of Day 3 (February 18, 2025, 11:35 AM):

Note:
 

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portions of anchor investors and market maker are not included in the total shares offered.

Tejas Cargo IPO - Day 3 Subscription

Key Highlights:

• Overall subscription reaching 0.77 times showing steady progression
• QIB portion maintaining strong interest at 1.26 times, demonstrating institutional confidence
• Retail investors showing growing participation at 0.79 times
• NII segment demonstrating careful evaluation at 0.09 times
• Total applications reaching 2,090 indicating focused investor interest
• Cumulative bid amount achieving ₹54.53 crores across categories
• Strong anchor book providing stability with ₹29.82 crore investment
• Institutional backing reflecting sector confidence
• Final day maintaining consistent momentum
• Asset-heavy business model drawing strategic evaluation
• Market response indicating measured assessment
• Logistics sector expertise attracting attention
• Modern fleet operations generating interest
• Pan-India presence supporting investor confidence

Tejas Cargo IPO - Day 2 Subscription at 0.71 Times

Key Highlights:

• Overall subscription improving to 0.71 times showing steady growth
• QIB portion reaching full subscription at 1.26 times
• Retail investors showing increased interest at 0.67 times
• NII segment at 0.08 times reflecting careful approach
• Day two witnessing improved momentum
• Institutional participation driving subscription levels
• Transportation sector experience drawing attention
• Modern fleet infrastructure supporting interest
• Second day building on opening response
• Market response indicating strategic evaluation
• Logistics expertise attracting institutional backing
• Pan-India operations demonstrating scale
• Asset ownership model generating attention
• Operational capabilities driving interest

Tejas Cargo IPO - Day 1 Subscription at 0.32 Times

Key Highlights:

• Overall subscription opening at 0.32 times showing measured start
• Retail investors beginning at 0.42 times
• QIB portion starting at 0.35 times
• NII segment showing initial interest at 0.03 times
• Opening day demonstrating balanced approach
• Initial momentum indicating strategic evaluation
• Transportation sector experience driving interest
• First day setting subscription baseline
• Market response suggesting thorough assessment
• Early applications showing focused interest
• Day one establishing steady pace
• Modern fleet attracting attention
• Opening momentum building gradually
• Initial response showing systematic approach

About Tejas Cargo India Limited

Tejas Cargo India Limited, established in March 2021, has rapidly emerged as a significant player in India's logistics sector, specializing in express road transportation services through Full Truck Load (FTL) operations. Operating from their base in Faridabad, Haryana, the company has built an impressive modern fleet of 1,131 vehicles, comprising 913 container trucks and 218 trailers, with an average fleet age of just 3.4 years for trucks and 0.7 years for trailers, demonstrating their commitment to maintaining efficient and reliable transportation assets.

Their business model exemplifies a robust asset-heavy approach, with operations spanning across twenty-three strategic branches nationwide for efficient placement, loading, and unloading services. The company's comprehensive service network caters to diverse sectors including logistics, steel, e-commerce, FMCG, and white goods, completing over 58,943 trips in the first half of fiscal 2024 and 98,913 trips during fiscal 2023, showcasing their operational scale and efficiency in meeting varied transportation needs.

Their financial performance demonstrates strong growth trajectory with revenue reaching ₹422.59 crores in FY2024, with a profit after tax of ₹13.22 crores. For the six months ended September 30, 2024, the company reported revenue of ₹255.09 crores with a PAT of ₹8.75 crores, highlighting their ability to maintain profitable operations in the competitive logistics sector.

Their competitive strengths include:

• Modern fleet with in-house maintenance capabilities
• Advanced technology integration for operations
• Strategic asset ownership model
• Diverse client base across sectors
• Experienced management team
• Pan-India operational presence
• Strong financial performance
• Comprehensive service network
• Young and efficient fleet
• Robust operational infrastructure

Highlights of the Tejas Cargo IPO:

• IPO type: Book Built Issue SME IPO
• IPO size: ₹105.84 crores
• Fresh Issue: 63.00 lakh shares
• Face value: ₹10 per share
• Price band: ₹160 to ₹168 per share
• Lot size: 800 shares
• Minimum investment for retail investors: ₹134,400
• Minimum investment for HNI: ₹268,800 (2 lots)
• Market maker reservation: 3,15,200 shares
• Listing at: NSE SME
• IPO opens: February 14, 2025
• IPO closes: February 18, 2025
• Allotment date: February 19, 2025
• Refund initiation: February 20, 2025
• Credit of shares: February 20, 2025
• Listing date: February 24, 2025
• Lead Manager: New Berry Capitals Private Limited
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: New Berry Capitals Private Limited