India’s primary markets have seen steady interest in logistics and infrastructure-linked businesses as trade volumes, manufacturing activity, and port connectivity continue to expand. Within this environment, containerised surface transport has emerged as a crucial backbone for exporters and importers moving goods between factories and ports.
Ashwini Container Movers Limited is tapping this opportunity with its initial public offering (IPO), which opens for subscription on December 12, 2025. Here is a detailed look at Ashwini Container Movers, its IPO structure, financials, and business outlook.
About Ashwini Container Movers Ltd.
Incorporated in April 2012, Ashwini Container Movers Limited is a transportation services provider specialising in cargo movement across India, with a key focus on Maharashtra and Gujarat.
The company operates primarily in the surface transportation of goods using containerised lorries. As of 30 September 2025, its logistics operations are supported by over 300 containerised vehicles, including 20-foot and 40-foot trucks.
Ashwini Container Movers mainly caters to B2B customers, transporting bulk goods between client factories and ports, and vice versa. The company focuses on:
- Full Container Load (FCL) transportation, using reefer and dry containers
- Handling Less Container Load (LCL) and Over Dimension Cargo (ODC) where required
FCL allocations allow a single truck to be dedicated to one shipment, which is especially useful for businesses that require secure, time-bound delivery of larger volumes.
The company’s workforce, as of 30 September 2025, includes 154 employee directors and staff overseeing finance, operations, and vehicle driving functions.
Ashwini Container Movers is certified under ISO 9001, 14001, and 45001, and also holds GDP compliance for product distribution, CTPAT US compliance, and FSSAI-related credentials, reflecting a strong focus on quality and safety standards.
Ashwini Container Movers IPO Details
Ashwini Container Movers IPO is a book-building issue aggregating to ₹71.00 crore, entirely through a fresh issue of 50,00,000 equity shares.
The proceeds from the fresh issue are proposed to be utilised primarily for:
- Repayment and or prepayment of certain borrowings availed by the company
- Capital expenditure towards the purchase of trucks
- General corporate purposes
Important IPO Timeline
| Event | Date |
| IPO Open Date | Fri, Dec 12, 2025 |
| IPO Close Date | Tue, Dec 16, 2025 |
| Tentative Allotment Date | Wed, Dec 17, 2025 |
| Initiation of Refunds | Thu, Dec 18, 2025 |
| Credit of Shares to Demat | Thu, Dec 18, 2025 |
| Tentative Listing Date | Fri, Dec 19, 2025 |
| Cut off time for UPI mandate confirmation | 5 PM on Tue, Dec 16, 2025 |
Key IPO Details
Here is the summary of the core IPO terms for Ashwini Container Movers:
| IPO Date | Fri, Dec 12, 2025 to Tue, Dec 16, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹135 to ₹142 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 50,00,000 shares (aggregating up to ₹71.00 Cr) |
| Reserved for Market Maker | 2,50,000 shares (aggregating up to ₹3.55 Cr) Choice Equity Broking Pvt.Ltd. |
| Net Offered to Public | 47,50,000 shares (aggregating up to ₹67.45 Cr) |
| Share Holding Pre Issue | 1,00,00,000 shares |
| Share Holding Post Issue | 1,50,00,000 shares |
Corporate Professionals Capital Pvt. Ltd. is the book-running lead manager, and Bigshare Services Pvt. Ltd. is the registrar of the issue. The Market Maker of the company is Choice Equity Broking Pvt. Ltd.
Ashwini Container Movers IPO Reservation
Ashwini Container Movers IPO offers a total of 50,00,000 shares, distributed among investor categories as follows:
| Investor Category | Shares Offered | % of Issue Size |
| Market Maker | 2,50,000 | 5.00% |
| QIB | 23,64,000 | 47.28% |
| NII (HNI) | 7,20,000 | 14.40% |
| Retail (RII) | 16,66,000 | 33.32% |
| Total | 50,00,000 | 100.00% |
Lot Size of Ashwini Container Movers IPO
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereafter. The lot size-based investment details are:
| Application Category | Lots | Shares | Amount |
| Individual Investors (Retail) Min | 2 | 2,000 | ₹2,84,000 |
| Individual Investors (Retail) Max | 2 | 2,000 | ₹2,84,000 |
| S-HNI Min | 3 | 3,000 | ₹4,26,000 |
| S-HNI Max | 7 | 7,000 | ₹9,94,000 |
| B-HNI Min | 8 | 8,000 | ₹11,36,000 |
Ashwini Container Movers Ltd. Financials
Ashwini Container Movers has reported healthy growth in its topline and a sharp jump in profitability in recent years. Between FY 2023-24 and FY 2024-25, the company’s:
- Total income increased by around 21%
- Profit after tax (PAT) rose by 731%
Key Company Financials
All figures in ₹ crore (Restated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 121.21 | 101.46 | 78.31 | 66.11 |
| Total Income | 55.86 | 96.06 | 79.27 | 77.16 |
| Profit After Tax | 9.91 | 11.45 | 1.38 | 2.10 |
| EBITDA | 19.01 | 24.89 | 13.64 | 12.17 |
| Net Worth | 29.80 | 20.42 | 9.39 | 8.01 |
| Reserves and Surplus | 20.40 | 10.84 | 9.14 | 7.76 |
| Total Borrowing | 74.90 | 62.57 | 58.70 | 47.38 |
Key Performance Indicators (KPI)
KPI as of 31 March 2025
| KPI | Value |
| Return on Equity (ROE) | 76.82% |
| Return on Capital Employed (ROCE) | 25.39% |
| Return on Net Worth (RoNW) | 76.82% |
| EBITDA Margin | 26.44% |
| Price to Book Value | 6.95 |
| Market Cap (Pre-IPO) | ₹213.00 Cr |
EPS, P/E and Promoter Holding
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 11.45 | 13.21 |
| P/E (x) | 12.40 | 10.75 |
| Promoter Holding | 100.00% | 66.47% |
The promoters of the company are Mr. Bhaskar Kisan Pawar and Mr. Govind Janabhau Sable.
Ashwini Container Movers Ltd.: Business and Industry Outlook
Ashwini Container Movers operates in the road logistics and containerised cargo transportation segment, which is closely linked to export-import activity, port connectivity, and industrial production in India.
Key aspects of the company’s competitive positioning include:
- Extensive experience of over 50 years in commercial transportation
- Robust fleet of owned reefer and dry container vehicles
- Advanced technology integration through platforms like Clay Soft and Elixia that allow real-time tracking of vehicles and cargo
- Customised logistics solutions tailored to varied client requirements
- Client-centric approach aimed at long-term relationships across diverse industries
- Strong safety focus, with specific attention to fleet maintenance and driver training
The company’s certifications and compliance with international and domestic standards further support its credentials as a reliable logistics partner for customers that require temperature-controlled and sensitive cargo movement.
Objects of the Issue
Ashwini Container Movers proposes to utilise the net proceeds of the IPO towards the following purposes:
| S. No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | Repayment and or prepayment, in full or part, of certain borrowings availed by the Company | 42.50 |
| 2 | Funding capital expenditure requirements towards the purchase of trucks | 8.07 |
| 3 | General corporate purposes | Balance |
Ashwini Container Movers IPO: Peer Comparison
Ashwini Container Movers IPO can be compared with peers such as VRL Logistics Ltd, TCI Express Ltd, Container Corporation of India Ltd, Gateway Distriparks Ltd, and Allcargo Logistics Ltd. Reviewing these companies helps investors understand Ashwini Container Movers’ positioning in the containerised road transport and logistics sector, offering valuable insights into its scale, service capabilities, and competitive strengths before making an informed investment decision.
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Conclusion
Ashwini Container Movers IPO offers investors an opportunity to participate in a container-focused surface logistics player with an established fleet, long operating history, and strong growth in earnings, especially in recent years. The business benefits from:
- A sizeable owned fleet
- Focus on FCL, reefer and dry containers
- Technology-enabled operations and tracking
- Diversified B2B customer relationships
At the same time, investors should keep in mind factors such as reliance on industrial trade volumes, fuel and freight cost dynamics, and the capital-intensive nature of the logistics business. Reviewing the company’s financial track record, proposed utilisation of funds, and overall risk profile in line with individual investment goals is advisable before taking any IPO related decision.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
