In late 2025, India’s SME issuance pipeline remains active, with logistics and tech-enabled operators drawing interest. Within this backdrop, Jayesh Logistics Limited (JLL) opens its book-built IPO on 27 October 2025, offering investors exposure to cross-border and domestic logistics with a tech-first stack spanning GPS, ERP, RFID and e-POD.
About Jayesh Logistics Ltd.
Incorporated in May 2011, Jayesh Logistics is a comprehensive logistics solutions provider with a focus on cross-border cargo across the Indo-Nepal corridor and Nepal hinterland.
Services: Inland & cross-border movement, port handling, and end-to-end supply-chain management (including warehousing & distribution).
Tech stack: GPS integrated with SAP; proprietary SMART-SYS platform combining ERP, GPS/RFID, blockchain e-POD, and AI-driven CRM for automation and visibility.
End-markets served: FMCG & retail, automotive & heavy equipment, manufacturing, pharma & healthcare, and PSUs.
Employees: 42 permanent (as of April 2025).
Promoters: Sanjay Kumar Kundaliya, Navita Kundaliya, Bishnu Kumar Bajaj, Rashmi Bajaj and RHMB India Pvt. Ltd.
Jayesh Logistics IPO Details
| Particulars | Details |
| IPO Type | Bookbuilding |
| Sale Type | Fresh Capital |
| Total Issue Size | 23,47,000 shares (aggregating up to ₹28.63 Cr) |
| Reserved for Market Maker | 1,20,000 shares (aggregating up to ₹1.46 Cr)Giriraj Stock Broking Pvt.Ltd. |
| Net Offered to Public | 22,27,000 shares (aggregating up to ₹27.17 Cr) |
| Face Value | ₹10 per share |
| Price Band | ₹116 – ₹122 per share |
| Lot Size | 1,000 shares |
| Listing | NSE SME |
| Lead Manager | Indcap Advisors Pvt. Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Market Maker | Giriraj Stock Broking Pvt. Ltd. |
| Pre-Issue Shares | 63,44,449 |
| Post-Issue Shares | 86,91,449 |
Important IPO Timeline
| Event | Date |
| IPO Open Date | Mon, 27 Oct 2025 |
| IPO Close Date | Wed, 29 Oct 2025 |
| Tentative Allotment | Thu, 30 Oct 2025 |
| Initiation of Refunds | Fri, 31 Oct 2025 |
| Credit of Shares to Demat | Fri, 31 Oct 2025 |
| Tentative Listing Date | Mon, 3 Nov 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, 29 Oct 2025 |
IPO Reservation
| Investor Category | Shares Offered | % of Issue |
| Market Maker | 1,20,000 | 5.11% |
| QIB | 11,12,000 | — |
| NII (HNI) | 3,35,000 | 14.27% |
| Retail (RII) | 7,80,000 | 33.23% |
| Total | 23,47,000 | 100.00% |
Lot Size of Jayesh Logistics IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,000 | ₹2,44,000 |
| Retail (Max) | 2 | 2,000 | ₹2,44,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,66,000 |
| S-HNI (Max) | 8 | 8,000 | ₹9,76,000 |
| B-HNI (Min) | 9 | 9,000 | ₹10,98,000 |
Promoter Holding
| Pre-Issue | Post-Issue | |
| Promoter Holding | 97.57% | 71.22% |
Jayesh Logistics Ltd. Financials
Market Capitalisation (at issue terms): ₹106.04 crore
Key Company Financials (Restated Consolidated; ₹ crore)
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 65.22 | 58.88 | 47.52 | 21.86 |
| Total Income | 25.25 | 112.03 | 88.30 | 60.37 |
| Profit After Tax | 2.02 | 7.20 | 3.16 | 1.09 |
| EBITDA | 4.30 | 16.93 | 10.40 | 4.78 |
| Net Worth | 19.35 | 17.33 | 8.02 | 4.86 |
| Reserves & Surplus | 13.01 | 10.99 | 7.46 | 4.30 |
| Total Borrowing | 29.65 | 27.99 | 27.10 | 12.19 |
Key Performance Indicators (FY2025 basis unless stated)
| KPI | Value |
| ROE | 56.77% |
| RoNW | 56.77% |
| ROCE | 27.23% |
| Debt/Equity | 1.61 |
| PAT Margin | 6.43% |
| EBITDA Margin | 15.13% |
| Price to Book | 4.47 |
| Market Capitalisation | ₹106.04 Cr |
| EPS (Pre / Post) | ₹11.34 / ₹9.29 |
| P/E (Pre / Post) | 10.75x / 13.13x |
Objects of the Issue
| S.No. | Purpose | Amount (₹ in Millions) |
| 1 | Purchase of side-wall trailers | 88.48 |
| 2 | Working capital requirements | 112.38 |
| 3 | Implementation of Phase 2 of Smart Logistics Application | 7.15 |
| 4 | General corporate purposes | Balance |
Industry Outlook
- Cross-border trade tailwinds: Growth in India–Nepal commerce and diversification of regional supply chains support steady cargo flows.
- Digitisation of logistics: Adoption of telematics, e-POD, RFID and AI-driven CRMs improves turnaround, visibility, and compliance—favouring tech-enabled operators.
- Infrastructure push: Ongoing expansion in highways, border infrastructure and warehousing enhances throughput potential for corridor specialists.
- Customer mix diversification: Exposure to FMCG, pharma, industrials and PSUs provides a broader demand base.
Jayesh Logistics IPO: Peer Comparison
Jayesh Logistics IPO can be compared with peers like S J Logistics (India) Ltd, AVG Logistics Ltd, and Ritco Logistics Ltd. Analysing these companies helps investors understand Jayesh Logistics’ position within the logistics and supply chain sector, assess operational efficiency, and evaluate growth potential relative to other listed logistics service providers.
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Conclusion
Jayesh Logistics Ltd. brings a tech-enabled, corridor-focused logistics story to the SME boards. Revenue and PAT have grown meaningfully over FY2023–FY2025, with improving operating margins and a plan to expand fleet and scale its SMART-SYS platform.
Investors should weigh typical SME considerations—post-listing liquidity, working-capital intensity, and competition—against the company’s digital moat, cross-border specialisation, and improving metrics. Align participation with your risk appetite and time horizon.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
