Upcoming IPO: Ashwini Container Movers to raise ₹65 crore via SME offer

Cargo transportation provider Ashwini Container Movers Ltd (ACML) is looking to raise Rs 65 crore through its initial public offering (IPO) to support business expansion plans.

The company has already received in-principle approval from NSE Emerge for listing on the SME segment.

The Navi Mumbai-based company's proposed IPO will comprise issuance of 50 lakh equity shares and a significant portion of the proceeds, about Rs 57 crore will be allocated for repayment/prepayment of outstanding loans to optimise the company's capital structure, while Rs 8 crore will be used to fund capital expenditure for expanding its truck fleet and a portion will be used for general corporate purposes, according to the draft papers.

On the financial front, ACML reported a profit after tax of Rs 5.46 crore and revenue of Rs 45.61 crore in H1 FY25. In full FY24, it posted a PAT of Rs 1.37 crore and revenue of Rs 78.77 crore.

ACML, a cargo transportation specialist with major operations in Maharashtra and Gujarat, leverages a fleet of over 250 containerised trucks.

Corporate Professionals Capital is the book-running lead manager, and Bigshare Services is the registrar to the issue.