PDP Shipping & Projects IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

PDP Shipping & Project Limited is an International Freight Forwarding Company dedicated to providing tailored made global transportation solutions for clients meeting the unique challenges of integrated logistics and supply chain management. 

PDP Shipping & Projects, an Fixed Price Issue amounting to ₹ 12.65 Crores, consisting entirely an Fresh Issue of 9.37 Lakh SharesThe subscription period for PDP Shipping & Projects IPO opens on March 10, 2025, and closes on March 12, 2025. The allotment is expected to be finalized on or about Thursday, March 13, 2025, and the shares will be listed on the BSE SME with a tentative listing date set on or about Tuesday, March 18, 2025.

The Share Price of PDP Shipping & Projects IPO is set at ₹ 135 per equity share. The Market Capitalisation of the PDP Shipping & Projects Limited at IPO price of ₹ 135 per equity share will be ₹ 40.15Crores. The lot size of the IPO is 1,000 shares. Retail investors are required to invest a minimum of ₹ 1,35,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (2,000 shares), amounting to ₹ 2,70,000.

SUN CAPITAL ADVISORY SERVICES PRIVATE LIMITED is the book running lead manager of the PDP Shipping & Projects IPO, while KFIN TECHNOLOGIES LIMITED is the registrar for the issue. Rikhav Securities Limited is the Market Maker for PDP Shipping & Projects IPO.

PDP Shipping & Projects Limited IPO GMP Today
The Grey Market Premium of PDP Shipping & Projects Limited IPO is expected to be ₹ 0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

PDP Shipping & Projects Limited IPO Live Subscription Status Today: Real-Time Update
As of 11:00 AM on March 10, 2025, the PDP Shipping & Projects Limited IPO live subscription status shows that the IPO subscribed 0.07 times on its First day of subscription period. Check the PDP Shipping & Projects IPO Live Subscription Status Today at BSE.

PDP Shipping & Projects Limited Day Wise IPO GMP Trend

Date

IPO Price

Expected Listing Price

GMP

Last Updated 

08 March 2025 ₹ 135 ₹ 135 ₹ 0 (0.00%) 11:00 PM; 08 Mar 2025


PDP Shipping & Projects Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
PDP Shipping & Projects IPO allotment date is 13 March, 2025, Thursday. PDP Shipping & Projects IPO Allotment will be out on 13 March, 2025 and will be live on Registrar Website from the allotment date. 
Check PDP Shipping & Projects IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select PDP Shipping & Projects Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of PDP Shipping & Projects Limited IPO
PDP Shipping & Projects proposes to utilise the Net Proceeds towards the following objects: 
1. ₹ 1,000.00 Lakhs is required for Part funding long-term working capital requirement
2. ₹ 79.95 Lakhs is required for General corporate purposes

Refer to 
PDP Shipping & Projects Limited RHP for more details about the Company.

PDP Shipping & Projects IPO Details

IPO Date March 10, 2025 to March 12, 2025
Listing Date March 18, 2025
Face Value ₹ 10
Price ₹ 135 per share
Lot Size 1,000 Equity Shares
Total Issue Size 9,37,000 Equity Shares (aggregating to ₹ 12.65 Cr)
Fresh Issue 9,37,000 Equity Shares (aggregating to ₹ 12.65 Cr)
Offer for Sale NIL
Issue Type Fixed Price Issue
Listing At BSE SME
Share holding pre issue 20,37,395
Share holding post issue 29,74,424

PDP Shipping & Projects IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1,000 ₹1,35,000
Retail (Max) 1 1,000 ₹135,000
S-HNI (Min) 2 2,000 ₹2,70,000
S-HNI (Max) 7 7,000 ₹9,45,000
B-HNI (Min) 8 8,000 ₹10,80,000

PDP Shipping & Projects IPO Timeline (Tentative Schedule)

IPO Open Date March 10, 2025
IPO Close Date March 12, 2025
Basis of Allotment March 13, 2025
Initiation of Refunds March 17, 2025
Credit of Shares to Demat March 17, 2025
Listing Date March 18, 2025
Cut-off time for UPI mandate confirmation 5 PM on March 12, 2025

PDP Shipping & Projects IPO Reservation

Investor Category Shares Offered Reservation %
Non-Institutional Investor Portion 4,45,000 50% of the Net Issue
Retail Shares Offered 4,45,000 50% of the Net Issue
Market Maker Portion 47,000 -

PDP Shipping & Projects IPO Promoter Holding

Share Holding Pre Issue 100.00%
Share Holding Post Issue 68.50%

PDP Shipping & Projects IPO Subscription Status

Investor Category Shares Offered Shares Bid For No oF Times Subscribed
Non Institutional Investors(NIIS) 4,92,000 7,000 0.01
Retail Individual Investors (RIIs) 4,45,000 59,000 0.13
Total 9,37,000 66,000 0.07

About PDP Shipping & Projects Limited

Business Overview

PDP Shipping & Projects is a leading end-to-end logistics and transport service provider, operating as a Multi Modal Transport Operator (MTO) and Authorized Economic Operator (AEO). Licensed by the Directorate General of Shipping, Government of India, and Mumbai Customs, the company specializes in international freight forwarding, sea and air freight transportation, customs clearance, and project logistics.

Offering global cargo transportation via sea, air, road, rail, and coastal barges, the company handles Full Container Load (FCL), Less than Container Load (LCL), breakbulk, Over Dimension Cargo (ODC), heavy lift, and project cargo. Expertise includes super heavy-lift operations, RoRo loadouts, sea towage, stowage design, structural calculations, and multi-modal transportation.

Operating on an asset-light business model, PDP Shipping & Projects collaborates with third-party transport operators, logistics infrastructure providers, and a global agency network. Services cover documentation, packaging, warehousing, cargo tracking, port operations, and end-to-end supply chain solutions.

Primary focus areas include handling imports and exports of heavy engineering machinery, defense equipment, automobiles, and infrastructure products, with key trade routes involving Brazil, USA, South Korea, and Thailand.

Since its inception in 2009, the company has evolved from a freight forwarding firm to an integrated logistics solutions provider, seamlessly combining road, rail, sea, and air transport to deliver cost-effective and efficient supply chain solutions.

As on January 27, 2025, the company have 18 employees on the payroll to look after the day-to-day business operations, administrative, secretarial, legal and accounting functions in accordance with their respective designated duties. The Banker to the Company is Union Bank of India.

Industry Analysis

Indian Logistics Industry

The logistics and transportation sector is a key driver of economic growth, facilitating seamless domestic and international trade. A robust logistics framework enables efficient movement of goods and services, accelerating economic expansion. The Indian logistics sector encompasses all aspects of inbound and outbound supply chains across manufacturing and service industries.

India’s logistics demand is poised to grow significantly, driven by its projected GDP of $26 trillion by 2048 and an ambitious $1 trillion merchandise export target by 2030. This growth is expected to create immense opportunities for the sector, with freight transport projected to expand at a 4.5% CAGR from 2022 to 2050, reaching 15.6 trillion tonne-kilometers.

Currently valued at ₹13-16 lakh crore ($156-192 billion) as of 2022, India's logistics sector aims to reduce logistics costs from 13-14% of GDP to 8-10% by 2030, enhancing export competitiveness. A 10% reduction in indirect logistics costs is estimated to boost exports by 5-8%.

India has improved its global standing in logistics, rising six spots to 38th place in the World Bank’s Logistics Performance Index (LPI). This progress is attributed to advancements in technology, data-driven operations, and government initiatives such as the National Logistics Policy (NLP) and PM Gati Shakti programme, aimed at strengthening infrastructure by 2024-25.

The sector, contributing 14.4% to India's GDP in 2022, employs over 22 million people and integrates 37 export promotion councils, 40 Participating Government Agencies (PGAs), 20 government agencies, 10,000 goods categories, and 500 certifications. Between 2015-16 and 2019-20, India invested approximately $10.2 trillion in infrastructure development.

Freight movement in India is heavily skewed towards road transport, which accounts for 66% of total freight (ton-km), followed by rail (31%), shipping (3%), and air (1%). The country also boasts extensive support infrastructure, including 129+ inland container depots, 168+ container goods stations, and 300 million sq. ft. of warehouse capacity.

Indian Port Industry

Maritime transport is the backbone of India’s international trade, handling 95% of trade volume and 70% of trade value. Recognizing its strategic importance, the Ministry of Shipping was rebranded as the Ministry of Ports, Shipping, and Waterways in 2020 to reflect its broader role.

India has 12 major ports and 205 notified minor and intermediate ports. Under the Sagarmala National Perspective Plan, six new mega ports are set to be developed, strengthening maritime trade capabilities. With a 7,517 km coastline, India ranks as the 16th-largest maritime nation globally.

The Indian government actively supports the sector, allowing 100% Foreign Direct Investment (FDI) under the automatic route for port development and maintenance projects. Additionally, businesses engaged in port, inland waterway, and inland port operations benefit from a 10-year tax holiday, promoting private investment and infrastructure enhancement

Business Strengths

1. Integrated, End-to-End Logistics Solutions
Comprehensive logistics services, including packaging, fumigation, cargo security, and customs clearance, designed to optimize cost, quality, scalability, and supply chain visibility. A single-window approach ensures cost efficiency and reduces operational dependencies.

2. Extensive Global Network
Strong international partnerships with shipping lines, airlines, port authorities, and transport service providers, enabling priority cargo space and favorable commercial terms. The asset-light model leverages global networks without additional fixed costs.

3. Experienced Leadership Team
Led by Managing Director Animesh Kumar, with 20+ years of expertise in logistics, customs, operations, sales, and finance. Senior management possesses diverse industry backgrounds, fostering innovation, strategic planning, and operational efficiency.

4. Long-Term Client Relationships
Established a loyal client base across multiple industries, ensuring repeat business and high customer retention. Extensive industry experience allows cross-leveraging best practices to enhance service offerings.


Business Strategies

1. Geographical Expansion
Strengthening market presence by penetrating domestic and international markets, expanding the service and distribution network, and establishing new alliances. Increased branch offices and skilled workforce to enhance global reach.

2. Focus on High-Value Clients
Targeting large revenue clients with integrated, end-to-end logistics solutions for operational flexibility, scalability, and cost efficiency. Emphasis on contract renewals and additional service offerings to strengthen client relationships.

3. Quality Assurance
Implementing standard operating procedures to ensure service quality, timely execution, and customer satisfaction. Skilled workforce leveraged to drive business growth and client retention.

4. Cost Optimization & Efficiency
Continuous cost reduction and operational efficiency improvements to maintain competitiveness and profitability while scaling business operations.


Business Risk Factors and Concerns

1. Revenue Dependence on Key Clients
A significant portion of revenue comes from a limited number of customers. Loss of major clients, declining service demand, or increased competition could negatively impact business performance and profitability. Ongoing client acquisition efforts may alter revenue composition.

2. Reliance on Third-Party Suppliers
Operations depend on external suppliers for shipping, transportation, and material handling services. Absence of long-term agreements with these vendors poses risks, and service disruptions may affect financial stability and operational efficiency.

3. Geographic Concentration in Brazil
A major share of international revenue is derived from Brazil, making operations vulnerable to economic slowdowns, natural disasters, and market disruptions in the country. Limited geographic diversification increases financial exposure to regional risks.

4. Operational Risks in Cargo Transportation
Cargo transportation is susceptible to breakdowns, accidents, and mishaps, potentially disrupting operations and causing financial losses. Dependency on third-party logistics providers further adds to operational uncertainties.

5. Dependence on Transportation Vendors
Business operations rely on commercial freight carriers, inland transport providers, and warehouse vendors. Disruptions, industry consolidation, rising costs, or shortages of transportation personnel may impact service availability, increase costs, and reduce profitability.

PDP Shipping & Projects Limited Financial Information (Restated Consolidated)

Amount in (₹ in Lakh)

Period Ended Nov 30, 2024 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022
Reserve of Surplus 537.74 380.70 346.03 177.84
Total Assets 1,232.01 826.47 622.19 422.23
Total Borrowings 356.57 50.29 30.02 3.90
Fixed Assets 737.95 19.62 25.34 3.25
Cash 121.59 105.56 76.85 174.06
Net Borrowing 234.98 -55.27 -46.83 -170.16
Revenue 1,377.63 2,057.52 2,260.49 2,872.74
EBITDA 249.05 326.00 231.07 265.70
PAT 157.04 231.39 168.19 190.99
EPS 7.71 11.36 8.26 9.37

Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2024 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Offer, given in
 RHP.

Key Performance Indicator

KPI Values
EPS Pre IPO (Rs.) ₹11.36
EPS Post IPO (Rs.) ₹7.78
P/E Pre IPO 11.88
P/E Post IPO 17.35
ROE 39.62%
ROCE 50.04%
P/BV 2.00
Debt/Equity 0.09
RoNW 39.62%

PDP Shipping & Projects Limited IPO Peer Comparison

Company Name EPS ROCE ROE P/E (x) P/Bv Debt/Equity RoNW (%)
PDP Shipping & Projects Limited ₹ 7.78 50.04 % 39.62 % 17.35 2.00 0.09 39.62 %
Marinetrans India Limited ₹ 0.12 5.75 % 1.54 % 151 0.88 0.34 1.54 %
S J Logistics (India) Limited ₹ 30.9 30.9 % 29.2 % 17.8 5.81 0.35 29.2 %
Cargosol Logistic Limited ₹ -5.60 -5.55 % -17.3 % - 0.86 1.34 -17.3 %
PDP Shipping & Projects Limited Contact Details

PDP SHIPPING & PROJECTS LIMITED

A-606, Mahavir Icon, Plot numbers 89 & 90, Sector 15, CBD Belapur, Navi Mumbai - 400 614
Contact Person : Vijay Kumar Jha
Telephone : 022 2756 5053
Email ID : compliance@pdpprojects.com
Website : 
https://www.pdpprojects.com/index.php

PDP Shipping & Projects IPO Registrar and Lead Manager(s)

Registrar : KFIN TECHNOLOGIES LIMITED
Telephone : +91 40 6716 2222/ 1800 309 4001
Contact Person : M Murali Krishna
Email ID : pdp.ipo@kfintech.com
Website : 
https://www.kfintech.com/

Lead Manager : SUN CAPITAL ADVISORY SERVICES PRIVATE LIMITED
Telephone : +91 22 6178 6000
Contact Person : Ajesh Dalal
Email ID : mb@suncapital.co.in
Website : 
https://www.suncapitalservices.co.in/

PDP Shipping & Projects IPO Review

PDP Shipping & Project Limited is an International Freight Forwarding Company dedicated to providing tailored made global transportation solutions for clients meeting the unique challenges of integrated logistics and supply chain management. 

The Company believe that the team comprise of experienced and competent personnel trained in providing quality tailored made global transportation solutions to meet requirements of their clients at competitive costs. Mr. Animesh Kumar, the Promoter and founder director, is a first-generation entrepreneur with more than two decades of enriched experience in the Shipping and Logistics industry.

The Revenues from operations for the period ended on Nov 30, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 1,377.63 Lakh, ₹ 2,057.52 Lakh, ₹ 2,260.49 Lakh and ₹ 2,872.74 Lakh respectively. The EBITDA for the period ended on Nov 30, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 249.05 Lakh, ₹ 326.00 Lakh, ₹ 231.07 Lakh, and ₹ 265.70 Lakh, respectively. The Profit after Tax for the period ended on Nov 30, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ ₹ 157.04 Lakh, ₹ 231.39 Lakh, ₹ 168.19 Lakh, and ₹ 190.99 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 11.36 and post-issue EPS of ₹ 7.78 for FY24. The pre-issue P/E ratio is 11.88x, while the post-issue P/E ratio is 17.35x against the Industry P/E ratio is 52x. The company's ROCE for FY24 is 50.04%, ROE for FY24 is 39.62% and RoNW 39.62%. The Annualised EPS based on the latest financial data is ₹ 11.56 and PE ratio is 11.67x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of PDP Shipping & Projects showing listing gains of 0.00 %. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the PDP Shipping & Projects Limited IPO for Listing gain.


Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 

About the Author

 CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms during the training period. He is good at Technical analysis and Fundamental Analysis and uses both Technical and Fundamental analysis along with five other important factors that affect the movement of the Market namely Global Market Analysis, Upcoming Event Analysis, Institutional Money Analysis, Derivative Data Analysis, and Emotions and Sentiment of Traders and Investors in his Framework called - Technical Fundamental GUIDE to find the winning Trades.

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