Infraprime Logistics Technologies said, on Tuesday, that it has received nod from Bombay Stock Exchange (BSE) to raise funds via SME initial public offering (IPO).
The company has plan to issue fresh issue up to 39,66,400 equity shares, each with a face value of ₹10, in the forthcoming IPO.
The company is launching an IPO to raise funds for several purposes, including covering the security deposit for leasing trucks and related equipment, developing its technology infrastructure to enhance and grow current business operations, fulfilling working capital needs, and addressing general corporate expenses associated with the public offering.
Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Mas Services Limited will serve as the Registrar to the Issue.
About the company
Infraprime Logistics Technologies Limited is a tech-enabled logistics service provider specializing in heavy-duty transportation, with a strong focus on incorporating electric vehicles (EVs) into its operations.
Serving key sectors such as infrastructure, construction, steel, cement, and mining, Infraprime delivers comprehensive transportation solutions aimed at enhancing supply chain efficiency, all while operating under an asset-light model.
The company strategically outsources its fleet operations, concentrating instead on technological innovation, operational excellence, and customer satisfaction. It leverages a proprietary in-house IT platform for real-time vehicle tracking, ensuring operational transparency, greater efficiency, and prompt issue resolution during transit.
As part of its sustainability commitment, Infraprime deploys EV trucks mainly for transporting steel coils, while continuing to use diesel vehicles for long-term contracts—especially in fly ash transportation for Public Sector Undertakings.
For the financial year ending March 31, 2024, Infraprime reported revenue of ₹10,973.16 lakhs, an EBITDA of ₹2,445.04 lakhs, and a Profit After Tax (PAT) of ₹1,525.85 lakhs.
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