Apana Logistics IPO

Apana Logistics IPO: Overview

Apana Logistics Limited, a Kolkata-based container transportation and logistics company, opened its ₹34.14 crore SME IPO on September 7, 2026. The issue closes on September 9, 2026, with listing on the BSE SME platform expected on September 15, 2026.

Worth flagging upfront: this is a Fixed Price Issue, not a book-built offering — meaning the price is set at a single, non-negotiable figure rather than a band, and there's no bidding-driven price discovery process. The issue is structured entirely as a fresh issue of ~₹34.14 crores.

Apana Logistics IPO: Key Dates

Apana Logistics IPO: Issue Details

Reservation here is notably different from most issues covered so far: 0% for QIB, split evenly between 50% NII and 50% retail — meaning there's no institutional quota at all, and individual investors (both retail and HNI) account for the entire offering.

Apana Logistics IPO: Lot Size

The minimum application here is a substantial ₹2,40,000 — among the higher entry points seen in recent SME issues, reflecting both the fixed price and the larger lot size structure typical of this offering.

About Apana Logistics

Established in 1992, Apana Logistics provides end-to-end container transportation and logistics services, including container handling at Container Freight Stations (CFS) and Inland Container Depots (ICD), port operations, road transportation, third-party warehouse cargo handling, and truck-trailer repair, operation, and maintenance.

The company works with several of India's major container terminal and port operators. As of August 31, 2025, Apana Logistics owned and maintained a fleet of 33 truck-trailers and 5 reach stackers, serving more than 10 customers — with 2 of its top 5 customers maintaining relationships spanning over 10 years.

Objects of the Issue

The majority of the raise is earmarked for fleet expansion through the purchase of additional reach stackers — specialised equipment used for container handling and stacking — directly supporting the company's core operations.

Financial Performance

Growth accelerated meaningfully in FY26 — revenue jumped roughly 44% year-on-year (after a modest 6% rise in FY25), while PAT nearly doubled, up around 85% YoY. This is a notable step-change worth understanding in the context of the company's fleet capacity and customer contracts, rather than assumed to be a steady annual growth rate going forward.

Key Valuation Metrics (FY2026)

The combination of strong margins, healthy ROE/ROCE, and a modest debt-to-equity ratio of 0.31 paints a reasonably capital-efficient picture for a logistics business of this scale — worth weighing against the sharp one-year growth acceleration noted above.

Peer Comparison

At a P/E of 12.10, Apana Logistics is priced between the two listed peers shown, while its RoNW of 33.82% is notably higher than both — though both peers operate at considerably larger revenue scale, making a direct comparison imperfect.

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of the IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email