Mumbai’s Om Freight Forwarders Limited, a prominent player in the logistics and freight sector, has officially submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). This move is aimed at tapping into the Indian stock market to generate funds for its operations. With a growing presence across China, Hong Kong, the UK, and Singapore, the company is set to enhance its offerings in logistics, warehousing, and distribution services.
IPO Details of Om Freight Forwarders
Om Freight Forwarders is launching its IPO through a book-built process, featuring both a fresh issue of equity and an offer-for-sale (OFS) component. The company intends to raise ₹25 crore from the fresh equity issue, with each share having a face value of ₹10.
- Offer Size: The company plans to issue 72.5 lakh equity shares as part of the OFS, primarily for the promoters to divest their holdings.
- Funding Allocation: The funds raised will be allocated toward ₹16.643 crore in capital expenditures, specifically for acquiring new commercial vehicles and heavy equipment. The remainder will support general corporate purposes.
Prominent shareholders involved in the IPO include Rahul Jagannath Joshi, Harmesh Rahul Joshi, and Kamesh Rahul Joshi. Smart Horizon Capital Advisors Pvt. Ltd acts as the book-running lead manager, while Bigshare Services Pvt. Ltd oversees the registration process.
Financial Highlights
The financial data from the DRHP reveals the company’s growth trajectory. As of the July to September quarter of the 2024-25 financial year, Om Freight Forwarders reported a net profit of ₹13.224 crore. In comparison, the previous fiscal year (2023-24) ended with a net profit of ₹10.345 crore, showing a positive trend. Notably, in the financial year 2022-23, the profit stood significantly higher at ₹27.158 crore, while it was ₹9.211 crore in 2021-22.
- Revenue: The logistics firm generated ₹250.285 crore from its core operations as of September 30, 2024.
- Net Worth: The net worth was recorded at ₹164.716 crore during the same period.
Conclusion
As the logistics and freight landscape continues to evolve, Om Freight Forwarders Limited is positioning itself for substantial growth through this IPO. With an impressive operational reach and a robust financial performance, the offering is expected to attract significant interest from investors in the market. Keep an eye on this upcoming IPO as it could be a game-changer for the company and its stakeholders.
