BLT Logistics IPO creates strong market buzz with massive subscription

The BLT Logistics Limited IPO witnessed an overwhelming response from investors, getting subscribed 504.44 times on the final day of bidding, August 6, 2025. With its public issue worth ₹9.72 crore entirely being a fresh issue, the company is set to raise capital for fleet expansion, working capital and other general corporate purposes.

The IPO saw anchor investment worth ₹2.68 crore from institutional investors, indicating confidence in the company's fundamentals. The shares are slated to be listed on the BSE SME platform with a tentative listing date of August 11, 2025.

Business Overview

BLT Logistics is engaged in the surface transportation of goods using containerized trucks and providing warehousing services. Their logistic services are critical for various industries and businesses across India.

They operate a combination of their own containerized trucks and vehicles hired from their 99.99% subsidiary Sabarmati Express India Pvt Ltd and third-party operators. These collaborations help them maintain flexibility and service reliability.

The company has been operational for over 13 years, with promoters Rakesh Kumar and Krishan Kumar bringing 25+ years of combined industry experience, which has significantly shaped the company’s growth.

IPO Details and Pricing

The BLT Logistics IPO is a Book Built Issue of ₹9.72 crore, with 12.96 lakh shares offered in a price band of ₹71–₹75 per share.

• Market Capitalisation: ₹35.97 crore (at upper band)

• Lot Size: 1,600 shares

• Minimum Investment: 2 lots (3,200 shares) = ₹2,40,000

• IPO Dates:

  • Opening: August 04, 2025

  • Closing: August 06, 2025

  • Allotment: August 07, 2025

  • Listing: August 11, 2025

The book running lead manager is Socradamus Capital Pvt Ltd, while BIGSHARE SERVICES PVT LTD is the registrar. Gretex Share Broking Ltd acts as the market maker.

Grey Market Premium (GMP) and Listing Expectations

The GMP for BLT Logistics IPO is currently at ₹6, indicating an expected listing price of ₹81 over the upper band of ₹75—offering a 7.98% premium.

It’s important to note that GMP is unofficial and unregulated and is mentioned here for educational purposes only. Actual listing gains may vary based on broader market sentiment.

Financial Performance and Valuation

BLT Logistics has shown consistent growth in its financial performance:

• FY2025 Revenue: ₹4,943.31 lakh

• FY2024 Revenue: ₹4,073.18 lakh

• FY2025 EBITDA: ₹982.37 lakh

• FY2024 EBITDA: ₹886.16 lakh

• FY2025 PAT: ₹383.86 lakh

• FY2024 PAT: ₹312.98 lakh

These numbers show steady YoY growth in both revenues and profitability, reflecting operational efficiency.

Valuation Metrics:

• Pre-issue EPS: ₹10.97

• Post-issue EPS: ₹8.00

• Pre-issue P/E Ratio: 6.83x

• Post-issue P/E Ratio: 9.37x

• Industry P/E Ratio: 10x

• ROCE (FY24): 35.26%

• ROE (FY24): 43.64%

• RoNW: 43.73%

The P/E ratios suggest fair valuation, especially considering the strong ROE and ROCE, which are well above industry averages.

IPO Allotment: How to Check Your Status

Investors who have applied for the IPO can check their allotment status online on August 7, 2025:

Steps to check IPO allotment:

1. Visit the official registrar site or BSE IPO status page

2. Select "BLT Logistics Limited IPO" from the dropdown

3. Enter your PAN, Application Number, or DP Client ID

4. Click Submit to view allotment status

Allotted shares will be credited to investor accounts prior to listing.

Utilisation of IPO Proceeds

The company plans to utilise the ₹9.72 crore raised through IPO as follows:

1. ₹387.88 lakh for purchase of trucks and ancillary equipment to enhance logistics capacity

2. ₹280 lakh to meet working capital requirements

3. Remaining towards general corporate purposes

This allocation reflects a clear growth-oriented strategy, with investment in core business assets.

Anchor Investors and Institutional Support

BLT Logistics successfully raised ₹2.68 crore from anchor investors by allotting 3,58,400 shares at ₹75 each. This anchor allotment signals a vote of confidence from institutions, which typically undergo stricter due diligence before investing.

GMP Trend Over Time

This trend shows positive market sentiment leading up to the IPO listing.

Risks and Considerations

While the IPO shows promise, investors should consider a few risks:

• SME listings may have lower liquidity

• Volatility post-listing due to broader market conditions

• Grey Market Premium is unofficial and does not ensure listing price

Hence, while financials are solid, this investment is suitable for risk-taking investors looking for short-term listing gains rather than long-term portfolio holding.

Final Recommendation

Given the strong financial performance, high subscription rate, and anchor investor participation, the BLT Logistics IPO appears to be fairly valued and could provide modest listing gains.

However, investors should remain cautious and assess their risk appetite before investing in SME IPOs. For short-term gains, it is recommended for high-risk investors to apply, keeping in mind the volatility and liquidity of SME stocks.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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The Current active IPO are ConnPlex Cinemas, ALL Time Plastics, JSW Cement, Sawaliya Foods Products, Highway Infrastructure.

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