Ashwini Container Movers Ltd IPO
Logistics
Price Band
₹135 – ₹142
Lot Size
1000
Minimum Bid Quantity
2000
Minimum Investment
₹284000
Issue Size
₹71Cr
Opens
2025-12-12
Closes
2025-12-16
Listing
19-12-2025
Subscription Status
Qualified Institutional Buyers
1.31 x
Non-Institutional Investor
2.85 x
Retail Individual Investor
1.13 x
Total
1.64 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1A6Q01010
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Ashwini Container Movers Limited is a logistics and commercial transportation company incorporated on April 12, 2012, originally as Ashwini Container Movers Private Limited under the Companies Act, 1956. It was converted to a public limited company on August 7, 2024. The company provides surface transportation services for containerised cargo across various regions in India, with operations concentrated in Maharashtra and Gujarat. Its fleet, as of September 30, 2025, comprises over 300 trucks, including 20-foot and 40-foot vehicles. The company primarily transports goods between factories and ports for clients involved in import and export activities. Ashwini Container Movers handles full container load (FCL), less container load (LCL), and over-dimensional cargo (ODC). Operations are supported by permanent drivers, administrative staff, and on-demand personnel. The company uses GPS tracking systems and internally developed software solutions to monitor and manage fleet performance.
Pros
- • As of September 30, 2025, the company claims to operate 312 owned vehicles, including reefer and dry container trucks. Owning a sizeable fleet may provide operational flexibility and support high-volume transport requirements.
- • The company claims to use Clay Soft and Elixia software for operational management and vehicle tracking. These systems are not owned by the company, and monthly charges are paid to use them, but they are intended to provide real-time visibility of vehicle and consignment status.
- • The company states that it has Carrier Legal Liability insurance and vehicle insurance for its fleet. It also uses monitoring software for tracking, although records indicate instances of traffic challans over the last three financial years for non-compliance with safety rules.
Cons
- • The company may face conflicts of interest due to the presence of group companies and former proprietorship firms operated by promoters or their relatives in similar business activities. Although some of these firms have discontinued operations since October 2024, overlaps in business functions may lead to competition for customers, resources, or business opportunities.
- • The company does not have long-term contracts with its clients, which may result in fluctuations in sales and reduced visibility of future revenue. Loss of key customers, lower business volume, or client preference for competitors could negatively impact cash flows and profitability. The business also remains exposed to credit risk, as delays in payments or defaults may strain liquidity.
- • A substantial portion of the company’s revenue is generated from the state of Maharashtra, indicating high regional dependence. Revenue from Maharashtra accounted for Rs 45.75 crore (83.32 percent) in the period ended September 30, 2025, Rs 73.51 crore (78.11 percent) in FY25, Rs 67.01 crore (85.07 percent) in FY24, and Rs 67.15 crore (87.36 percent) in FY23. Any adverse economic, regulatory, or competitive developments in this region may materially affect revenue and operating performance.
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