Ashwini Container Movers Limited (ACML), a Navi Mumbai-based cargo transport firm, plans to raise approximately Rs 650 million through a fresh equity issue following in-principle approval from NSE Emerge for its proposed Initial Public Offering (IPO). The issue will comprise up to 5 million equity shares of face value Rs 10 each, offered via the book-building route.
Corporate Professionals Capital Private Limited will act as the Book Running Lead Manager, while Bigshare Services Private Limited is the Registrar to the issue.
Of the total proceeds, around Rs 569.4 million will be used for repayment or prepayment of outstanding loans to optimise the company鈥檚 capital structure. A further Rs 80.6 million is earmarked for capital expenditure, including expansion of ACML鈥檚 truck fleet and other general corporate purposes.
For the half-year ending 30 September 2024 (H1 FY25), ACML posted revenue of Rs 456.1 million and a profit after tax (PAT) of Rs 54.6 million, a significant rise compared to its FY24 full-year revenue of Rs 787.7 million and PAT of Rs 13.7 million.
Established in 2012 by Bhaskar Kisan Pawar and Govind Janabhau Sable, ACML operates a fleet of over 250 containerised trucks (20-ft and 40-ft) across Maharashtra and Gujarat. The company leverages proprietary software Clay Soft and the Elixia real-time tracking system to streamline operations.
ACML specialises in port-to-factory logistics and offers Full Container Load (FCL), Less Container Load (LCL), and Over Dimension Cargo (ODC) solutions, catering primarily to the import-export segment.
The company is currently finalising its Red Herring Prospectus (RHP) for submission to the Registrar of Companies and NSE Emerge, marking a strategic step toward expanding its presence in India鈥檚 growing logistics sector.
