IPO Key Dates
| Anchor Investor Subscription | Â |
| IPO opens on | 29 Sept. 2025 |
| IPO Closes on | 1 Octo 2025 |
| Allotment on | 3 Octo. 2025 |
| Credit of shares on | 6 Octo. 2025 |
| Tentative Listing on | 7 Octo.2025 |
| Registered office in.. |
| Kolkatta, West Bengal Email-cs@dfclogistics.in |
| Lead Manager of the IPO |
| Finshore Maagement Services ltd |
| Registrar to the IPO |
| Kfin Technologies ltd |
Business:
Dhillon Freight Carrier Limited is engaged in providing integrated logistics solutions with a strong focus on road transportation. The company operates as a goods transport agency offering parcel/less-than-truck-load (LTL), contract logistics, and fleet rental/leasing services. It caters to both B2B and B2C customers across West Bengal, Bihar, Delhi and Uttar Pradesh. The company maintains its own fleet of 62 vehicles, supported by a wide network of 22 booking offices, pickup facilities, warehouses and delivery centers. This extensive network, coupled with in-house fleet strength, enables Dhillon Freight Carrier to ensure reliable, timely and cost-effective logistics services.
IPO Details
| Â | |
| IPO opens on | 29 September 2025 |
| IPO closes on | 1 October 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 14,00,000 Shares / Rs 10.08 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 70,400 Shares |
| Net offer to Public | 13,29,600 Shares Rs. 9.57 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 72 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1600 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Market Makers | 5.03% |
| NII (HNI)Â | 47.54% |
| Retail Shares | 47.54% |
| Total Shares | 100.00% |
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | â‚ą2,30,400 |
| Retail (Max) | 2 | 3,200 | â‚ą2,30,400 |
| HNI (Min) | 3 | 4,800 | â‚ą3,45,600 |
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The Promoters’ Holding
The promoters hold 100% of the pre-IPO capital
The Objects of the IPO
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
| Objects of the Issue | â‚ą in crores |
| Purchase of Goods Transportation Vehicles and its Fabrication | 7.67 |
| General Corporate Expenses | 1.09 |
Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 9.71 | 9.16 | 6.78 |
| Total Income | 25.22 | 24.73 | 29.91 |
| Profit After Tax | 1.73 | 1.09 | 0.36 |
| EBITDA | 3.67 | 3.31 | 1.74 |
| NET Worth | 5.23 | 3.5 | 1.5 |
| Reserves and Surplus | 2.71 | 0.98 | 1.33 |
| Total Borrowing | 3.34 | 4.8 | 4.39 |
| Amount in Rs. Crore | |||
Peer Comparison:
| Company Name | P/EÂ (x) | RoNWÂ (%) |
| Dhillon Freight Carrier Limited | 10.49 | 33.09 |
| Orissa Bengal Carrier Limited | 110.86 | 1.19 |
| GB Logistics Commerce Limited | 8.36 | 8.24 |
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Key Financial Indicators
| KPI | Values |
| ROE | 39.65% |
| ROCE | 31.77% |
| Debt/Equity | 0.64 |
| RoNW | 33.09% |
| PAT Margin | 6.99% |
| EBITDA Margin | 14.84% |
| Price to Book Value | 3.47 |
| EPS | 6.96 |
| PER | 10.49 |
IPO Recommendation/Concise Review-
So-so, May Avoid
Quicklinks
- Market Analysis by Nagaraj Shetti
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