New Delhi [India], January 20 (ANI/PNN): Transvoy Logistics India Limited, engaged in the business of integrated logistics solutions brings its IPO of Rs 511.20 lakhs for 720,000 shares. The face value per share is Rs 10 and the equity price per share is Rs 71. The lot size is 1600 shares. Out of 720,000 shares, 340,800 shares are reserved for the HNI quota, 340,800 shares under retail quota and 38,400 shares are reserved for the market maker quota. The issue opens on Friday, the 20th of January and closes on the 24th of January, 2023. It will subsequently be listed on BSE SME platform. The lead manager to the issue is Beeline Capital Advisors Private Limited and the registrar to the issue is Link Intime India Private Limited.
The issue proceeds from the Issue will be utilized towards the following:
1. To meet working capital requirements
2. Investment in subsidiary for purchase of containers
3. General corporate purpose
4. To meet public issue expenses
Incorporated in 2015, Transvoy Logistics India Limited is engaged in the business of integrated logistics solutions. The company offers services like NVOCC, Freight Forwarding, Custom Clearance, Transportation handling, and Advisory on MEIS License Trading.
The core business of the company is
1. Freight Forwarding
2. Customs Clearance
3. Allied Logistics and Transportation Services
Transvoy Logistics India operates primarily in India along with expanding to different parts of the world including Sri Lanka, China, Malaysia, Middle East, and Singapore. They maintain the highest quality in the service and strive at satisfying the requirements of the customers. They primarily provide services to clients in countries namely India, China, Middle East, Sri Lanka, Singapore and Malaysia. The company has a wholly owned subsidiary, Aashirvad Shipping & Allied Private Limited (ASAPL). ASAPL is engaged in the business of providing services of custom clearing. The company has recently formed a company in Singapore namely Transvoy Logistics PTE. Ltd. (Transvoy - Singapore) where the company holds 55% stake. It is engaged in the business of providing services of non-vessel owning common carrier (NVOCC).
The company has registered impressive growth financially. Its total revenue in FY22 was Rs 503.02 lakhs as compared to Rs 62.21 lakhs in FY2021 and Rs 42.90 lakhs in FY2020. Its profit before tax was Rs 78.77 lakhs in FY2022 as compared to Rs 1.45 lakhs in FY2021 and Rs 1.22 lakhs in FY2020.
Ravindrakumar Kumarchandra Joshi, Naitik Ravindrakumar Joshi and Dipti Ravindrabhai Joshi are the promoters of the company. They have a combined experience of more than 42 years in the logistics industry.
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)