Pooja Logistics IPO
Pooja Logistics IPO — dates, price band, GMP & allotment.
Timetable
Issue Summary
| Price Band | ₹109-115 |
| Face Value | ₹10 |
| Lot Size | 1200 Shares |
| Issue Size | ₹44.23 Cr |
| Sale Type | Fresh capital only |
| Listing On | NSE SME |
| BSE Scrip Code | POOJALOGIS |
| Min Investment | ₹138,000 |
Reservation
What Will It Cost Me?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹138,000 |
| Retail (Max) | 1 | 1,200 | ₹138,000 |
| HNI (Min) | 2 | 2,400 | ₹276,000 |
Strengths & Risks
Strengths
- Profit nearly doubled in FY2025, from Rs 5.73 crore to Rs 11.02 crore.
- Sales grew from Rs 125.14 crore in FY2024 to Rs 150.49 crore in FY2025.
- EBITDA improved from Rs 19.13 crore to Rs 23.09 crore over the same period.
- Return ratios are very strong, with RoNW of 54.20% and RoCE of 34.47%.
- The issue is priced at about 13.31 times earnings on an EPS of Rs 8.64.
- It owns its fleet of more than 357 GPS-enabled reefer vehicles rather than hiring in capacity, which gives control over service quality.
- It serves five different customer industries, from dairy and bakery to pharmaceuticals and e-commerce, so it is not dependent on one sector.
- Cold chain demand is supported by the growth of quick commerce, packaged dairy and pharmaceutical distribution.
Risks
- Only two years of financial data are available and the latest is FY2025, ending 31 March 2025. There is no FY2026 figure for an issue opening in September 2026.
- The objects of the issue carry no amounts in the data available to us. They are listed only as purchase of vehicles and general corporate purposes, so how the Rs 44.23 crore will be split is not visible from here and must be read in the RHP.
- This is a capital heavy business. Reefer trucks are costly, wear out and need continuous replacement, so spending does not stop after this issue.
- Borrowing of Rs 29.00 crore is high against a net worth of Rs 25.85 crore, a debt to equity ratio of 1.12.
- Diesel and driver costs are the main expenses and both move outside the company's control.
- Cold chain work carries real liability. A refrigeration failure does not just delay a consignment, it destroys it, and the carrier bears that risk.
- Logistics customers usually work on annual rate contracts, so pricing is renegotiated regularly and margin can be squeezed.
- Promoter holding will come down from 93.68% to 68.45% after the issue.
- This is an SME issue. One lot is 1,200 shares, which is about Rs 1.38 lakh at the upper band of Rs 115, and SME shares usually trade in low volume after listing.
Valuation & Key Ratios
Financials (Rs. Crore)
| Metric | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Assets | 70.06 | 59.78 |
| Total Income | 150.49 | 125.14 |
| Profit After Tax | 11.02 | 5.73 |
| EBITDA | 23.09 | 19.13 |
| NET Worth | 25.85 | 14.83 |
| Reserves and Surplus | 15.85 | 14.73 |
| Total Borrowing | 29.00 | 31.03 |
About The Company
Pooja Logistics Ltd was started in 2011. It provides temperature controlled logistics, moving goods that spoil if they get warm. These journeys are made in refrigerated trucks, known in the trade as reefers, which keep the cargo at a set temperature from loading to delivery.
Its fleet is its own rather than hired. As on 31 August 2025 it ran more than 357 GPS-enabled vehicles dedicated to carrying temperature sensitive goods, with the tracking letting both the company and its customers see where a consignment is and that the temperature has held.
Its customers come from five main areas. Confectionery and bakery, dairy and dairy products, quick service restaurants, pharmaceuticals and healthcare, and e-commerce and retail. These are industries where a break in the cold chain does not merely delay a delivery but destroys the goods, which is why the work tends to stay with operators who can prove reliability.
Company & Registrar
Subscription By Category
| Category | Subscribed | Shares Offered | Shares Bid For |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 2.5× | 714,000 | — |
| Non-Institutional Investors (NII) | 3.83× | 738,000 | — |
| Retail Individual Investors (RII) | 2.86× | 1,260,000 | — |
| Employee | 0.48× | 72,000 | — |
| Total | 2.96× | 2,784,000 | — |
GMP History
| Date | GMP | % Over Issue Price |
|---|
Anchor Investors
| Investor | Category | Shares Allotted | Value |
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