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- Kaushalya Logistics Ltd
Kaushalya Logistics Ltd IPO
The journey of the Company started with incorporation of Kaushalya Buildcon Private Limited in the year 2007 to carry on the business of construction of commercial buildings, residential buildings, factory sheds etc. With experience gained into this area of operations, the Company diversified in providing logistic support to cement industry. In 2010 the business of providing logistic support started with 4 warehouses and was expanded year on year.
Poddar Group under the leadership of Uddhav Poddar took over the management and control of the Company in year 2011. Now, the Company is a part of the Poddar Group, which is grown into a diversified business conglomerate across industries like construction, warehousing, logistics, development of commercial space and e-commerce business.
The Company is developed as an integrated Logistics and Clearing and Forwarding (C&F) services provider. Presently, it operates in two major verticals, one is providing logistic support for handling and dealing in the cement for dealers and customers of Dalmia Cement Bharat Limited. The other vertical is for retail business for selling of Electronics and White Good items such as Televisions, Refrigerator, Washing Machines etc covering locations all across India. It has got into commercial real estate sector by owning and renting out commercial shops in Udaipur. The Company was formerly engaged into Real Estate operations which later diversified to renting out Commercial Properties in 2023.
The Company propose Initial Public Offer aggregating 50,50,000 Equity Shares comprising 35,50,000 Fresh Issue Equity Shares and Offer for Sale 15,00,000.
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Kaushalya Logistics Ltd IPO Timeline
Kaushalya Logistics Ltd IPO opens on 29-Dec-2023, and closes on 03-Jan-2024. The Kaushalya Logistics Ltd IPO bid date is from 29-Dec-2023 to 03-Jan-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Kaushalya Logistics Ltd IPO Opening Date | 29-Dec-2023 |
| Kaushalya Logistics Ltd IPO Closing Date | 03-Jan-2024 |
| Basis of Allotment | 04-Jan-2024 |
| Initiation of Refunds | 05-Jan-2024 |
| Credit of Shares to Demat | 05-Jan-2024 |
| Kaushalya Logistics Ltd IPO Listing Date | 08-Jan-2024 |
Kaushalya Logistics Ltd IPO Lot Size
Kaushalya Logistics Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 120000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹120000 |
| Maximum | 1 | 1600 | ₹120000 |
Kaushalya Logistics Ltd IPO Details
| Kaushalya Logistics Ltd IPO Date | 29-Dec-2023 to 03-Jan-2024 |
| Kaushalya Logistics Ltd IPO Face Value | Shares of ₹10 per share |
| Kaushalya Logistics Ltd IPO Price | ₹71 to ₹75 per share |
| Kaushalya Logistics Ltd IPO Lot Size | 1600 |
| Issue Size | Shares of ₹10 (aggregating up to ₹36.6 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹25.35 Cr) |
| Offer for Sale | Shares of ₹10 (aggregating up to ₹11.25 Cr) |
| Issue Type | Book Building - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Uddhav Poddar, Uddhav Poddar (HUF), Bhumika Realty Pvt Ltd. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Repayment of unsecured loan
- 2 Funding of working capital requirements of the company
- 3 General corporate purposes
Company Financials
Kaushalya Logistics Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 171.05 | 1478.33 | 9.10 |
| 03-2023 | 140.64 | 632.16 | 7.06 |
| 03-2022 | 64.89 | 63.59 | 3.76 |
| Amount in ₹ Crore | |||
- Integrated, end-to-end logistics services and solutions.
- Its existing Network and Storage Capabilities.
- Strong knowledge and expertise of its promotors.
- Industry experience with strong execution capabilities.
- Strong Financial Performance.
- Substantial portion of its revenue has been dependent upon e-commerce business which is through only one major e-commerce platform. The loss of its major e-commerce platform would have a material adverse effect on itd business, cash flows, results of operations and financial condition.
- Substantial portion of its profits has been dependent upon logistics business which has only one major customer. The loss of the company's major customer would have a material adverse effect on its business, cash flows, results of operations and financial condition.
- There are outstanding litigation proceedings involving the Company and Group Companies, an adverse outcome in which, may have an adverse impact on its reputation, business, financial condition, results of operations and cash flows.
- The Registered Office, Branch Offices and warehouses of the Company are not owned by it.
- Non stamping of Gift Deeds for the shares acquired by the Promoters.
- Dependence on third-party vendors could have an adverse effect on its business financial condition and results of operations.
- The company is require a number of approvals, licenses, registrations and permits for its business and failure to obtain or renew them in a timely manner may adversely affect its operations.
- The Company has experienced negative cash flow in the past and may continue to do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.
- Certain discrepancies/errors have been noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorizes in future for non-compliance with provisions of corporate and other law could impact the financial position of the Company to that extent.
- Its insurance coverage may not adequately protect the company against certain operating risks and this may have an adverse effect on the results of its business.
- The company is dependent on third party transportation providers for delivery of product to it from its suppliers and delivery of the company products to its customers. Any failure on part of such service providers to meet their obligation could have a material adverse effect on its business, financial condition and results of operations.
- The company has incurred substantial indebtedness which exposes it to various risks which may have an adverse effect on its business and results of operations.
- Failure to manage its inventory could have an adverse effect on the company net sales, profitability, cash flow and liquidity.
- Its Promoters have interest in the Company, other than reimbursement of expenses incurred or remuneration.
- Changes in customer preferences could affect its business, financial condition, results of operations and prospects.
- The Company's failure to maintain the quality standards of the products could adversely impact its business, results of operations and financial condition.
- Orders placed by customers may be delayed, modified, cancelled or not fully paid for by its customers, which may have an adverse effect on the company business, financial condition and results of operations.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflict of interest with the equity shareholders.
- There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company's Board of Directors, though it shall be monitored by the Audit Committee.
- Late Deposits of Tax Deducted at Source (TDS) with the Income Tax Authority.
- Negative publicity could adversely affect its revenue model and profitability of the Company.
- If the company is unable to collect its receivables from its clients, the company's results of operations and cash flows could be adversely affected.
- Fraud, theft, employee negligence or similar incidents may adversely affect its results of operations and financial condition.
- The company operate in a competitive business environment. Competition from existing players and new entrants and consequent pricing pressures may adversely affect its business, financial condition and results of operations.
- Unsecured loans taken by the Company from Promoter Group, Directors and their relatives, can be recalled by the lenders at any time.
- Conflicts of interest may arise out of common business undertaken by the Company and its Promoter Group Entities.
- The company has not made any dividend payments in the past and its ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.
- The Company and its Promoters namely Uddhav Poddar and Bhumika Realty Private Limited have provided personal/corporate guarantees for loan facilities obtained by its Group Companies and any failure or default by the company Group Company/s to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on the Company and its Promoter, which may impact its ability to effectively service its obligations and thereby impact its business and operations.
- Its inability to manage growth could disrupt the company business and reduce profitability. Its business strategy is to continuously grow by expanding the size of its businesses.
- Highly dependent on its ability to control costs and pass on any increase in operating expenses to customers, while continuing to offer competitive pricing.
- Its Contingent Liability and Commitments could affect the company financial position.
- There are certain restrictive covenants in the agreements that the Company has entered into with Banks.
- The Objects of the Offer for which funds are being raised, are based on its management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Offer".
- Its diverse and complex multi-location operations subject the company to various statutory, legal and regulatory risks.
- The company has not independently verified certain data in this RHP.
- Any future issue of Equity Shares may dilute your shareholding and sales of its Equity Shares by the company Promoters or other major shareholders may adversely affect the trading price of the Equity Shares.
- The Offer Price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Offer and the market price of its Equity Shares may decline below the Offer Price and you may not be able to sell your Equity Shares at or above the Offer Price.
- You may be subject to Indian taxes arising out of capital gains on the sale of its Equity Shares.
- There have been some delays in payment of Statutory dues like GST and EPF by the Company which may adversely affect its operations and financial conditions.
- The degree / certificates pertaining to the educational qualifications of one of its Directors, Sunira Chamaria (being the bachelors' degree in commerce from University of Delhi) and its Promoter who is also Managing Director of the Company, Uddhav Poddar (being the bachelors' degree in commerce from University of Delhi) are not traceable.
- The Company will not receive any proceeds from the Offer for Sale by the Selling Shareholders.
- Focus on existing large revenue clients by providing integrated, end-to-end solutions and continue to provide additional services to existing clients.
- Identifying new customers and continue to diversify its revenues from different industry verticals.
- Continue to focus on upgradation of existing systems.
- Focus on new warehouses.
- Industries served.
Kaushalya Logistics Ltd IPO Promoter Holding
| Pre Issue Share Holding | 61.44% |
| Post Issue Share Holding | 42.14% |
Kaushalya Logistics Ltd IPO Subscription Status (Bidding Detail)
The Kaushalya Logistics Ltd IPO is subscribed 264.597 times on Jan 03, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 264.597 |
Kaushalya Logistics Ltd IPO Prospectus
Kaushalya Logistics Ltd IPO Listing Date
| Listing Date | 08 Jan 24 |
| BSE Script | 92402 |
| NSE Symbol | KLL |
| Listing In | NSE - SME |
| ISIN | INE0Q2V01012 |
| IPO Price | ₹75 |
| Face Value | ₹10 |
Kaushalya Logistics Ltd IPO Registrar
Skyline Financial Services Pvt
Phone: +91-11-40450193-97
Email: compliances@skylinerta.com
Website: www.skylinerta.com
Kaushalya Logistics Ltd IPO Lead Manager(s)
- Khandwala Securities Ltd
FAQs on Kaushalya Logistics Ltd IPO
Kaushalya Logistics Ltd IPO, which opens for subscription from 29-Dec-2023 to 03-Jan-2024 has an issue size of ₹36.6 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Kaushalya Logistics Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Kaushalya Logistics Ltd IPO Opens for subscription from 29-Dec-2023 to 03-Jan-2024.
The lot size of Kaushalya Logistics Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹120000 and ₹120000 respectively.
Allotment date for Kaushalya Logistics Ltd is 04-Jan-2024 and refund of application amount (in case allotment is not received) will begin from 05-Jan-2024. If your allotment goes through, then shares will be credited in your Demat account by 05-Jan-2024.
The registrar for Kaushalya Logistics Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.
The shares of Kaushalya Logistics Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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