Iware Supplychain Services, a pan-India integrated logistics company, is offering its initial public offering (IPO) with a fixed price issue of ₹ 27.13 Crores. The IPO comprises a fresh issue of 28.56 lakh shares, with the price set at ₹ 95 per equity share. The subscription period begins on April 28, 2025, and ends on April 30, 2025, with allotment expected to be finalized on May 02, 2025. The company plans to list its shares on the NSE SME with a tentative listing date on May 06, 2025.

Key Financial Highlights and Business Overview

Iware Supplychain Services provides a comprehensive range of services in the logistics sector, including warehousing, third-party logistics (3PL), carrying & forwarding agent operations, transportation, and rake handling services. With a strong presence in several states, including Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi, the company is positioned to deliver reliable services across the country.

The company’s business operations have seen a steady growth trajectory in recent years. For the fiscal years ending March 31, 2025, 2024, and 2023, the company reported the following financials:

• Revenue from operations: ₹ 4,372 Lakh (2025), ₹ 5,876.86 Lakh (2024), ₹ 8,610.9 Lakh (2023).

• EBITDA: ₹ 638.88 Lakh (2025), ₹ 1,093.22 Lakh (2024), ₹ 1,729.20 Lakh (2023).

• Profit After Tax (PAT): ₹ 42.29 Lakh (2025), ₹ 416.96 Lakh (2024), ₹ 801.93 Lakh (2023).

These figures indicate stable financial performance, despite some fluctuations in revenue and profit.

The IPO has a market capitalization of ₹ 101.80 Crores at the ₹ 95 per share issue price. The lot size for the IPO is 1,200 shares, with a minimum investment requirement of ₹ 1,14,000 for retail investors and ₹ 2,28,000 for High-Net-Worth Individuals (HNIs).

Grey Market Premium (GMP) and Listing Expectations

The Grey Market Premium (GMP) for Iware Supplychain Services IPO currently stands at ₹ 18, reflecting a potential 18.94% increase in value from the issue price of ₹ 95 per share. The GMP is an unorganized market indicator, giving an indication of potential listing gains, though it is not an official source for price discovery. Investors are advised that the GMP is only for informational purposes and should not be used as the sole basis for making investment decisions.

Objectives of the IPO

The net proceeds from the IPO will be utilized for the following purposes:

1. ₹ 1,406.43 Lakh for capital expenditure, primarily for constructing a new industrial shed.

2. ₹ 680.00 Lakh to meet working capital requirements.

3. ₹ 386.77 Lakh for general corporate purposes.

IPO Allotment and Subscription Status

The IPO is open for subscription from April 28, 2025, to April 30, 2025. As of 11:00 AM on April 29, 2025, the live subscription status shows that the IPO is subscribed 0.51 times on the second day of the subscription period.

Investors can check the allotment status by visiting the registrar’s website once the allotment process is finalized. The allotment date is expected to be on May 02, 2025, and the final list will be available online.

Investor Recommendation

Based on the company’s stable financial performance and the current GMP, investors with a higher risk appetite might consider applying for the Iware Supplychain Services IPO for potential listing gains. The IPO offers a solid market cap with a reasonable valuation, and its diverse service portfolio positions it well in the growing logistics sector.

However, as always, investors should perform due diligence and consult with their financial advisors before making any investment decisions.

The Upcoming IPOs in this week and coming weeks are  Wagons Learning, Srigee DLM, Manoj Jewellers.

The Current active IPO are Kenrik Industries,Arunaya Organics, Ather Energy, Iware Supplychain Services.

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