India’s SME capital markets continue to attract companies from asset-intensive and service-driven sectors that are looking to fund growth and strengthen their balance sheets. Logistics and transportation players, in particular, are benefiting from rising freight demand, infrastructure expansion and the increasing need for integrated supply chain solutions.
In this environment, Neptune Logitek Ltd is coming out with its SME IPO, opening on 15 December 2025. Here is a detailed look at Neptune Logitek, its IPO structure, financials and proposed utilisation of funds.
About Neptune Logitek Ltd.
Neptune Logitek Limited is an integrated logistics solution provider in India. The company offers a range of services that cover multiple modes of transportation and value-added logistics requirements.
Its key service offerings include:
- Freight forwarding and customs clearance
- Air freight transportation
- Door-to-door multimodal coastal forwarding
- Road transportation
- Rail transportation
The company uses technological tools such as GPS-enabled fleet management, real-time vehicle tracking, and auto on or off engine monitoring and control, which help improve efficiency and transparency.
As of 31 March 2025, Neptune Logitek:
- Operated with 199 fleets and fleet operators
- Had 9 branch offices to support its operations
- Also operated a captive petrol pump with a storage capacity of up to 60 kilolitres
Key strengths
- Integrated logistics service provider
- Proficient management team
- Asset-driven business model
- Seamless technology integration for enhanced efficiency
- In-house maintenance and direct procurement, supporting cost control
Neptune Logitek IPO Details
Neptune Logitek IPO is a fixed price issue of ₹46.62 crore, entirely a fresh issue of 37,00,000 equity shares.
- Issue size: 37,00,000 shares, aggregating up to ₹46.62 crore
- Issue price: ₹126 per share
- Face value: ₹10 per share
- Issue type: Fixed Price IPO
- Listing: BSE SME platform
- Market cap (pre IPO): ₹172.62 crore
Important IPO Timeline
| Event | Date |
| IPO Open Date | Monday, December 15, 2025 |
| IPO Close Date | Wednesday, December 17, 2025 |
| Tentative Allotment | Thursday, December 18, 2025 |
| Initiation of Refunds | Friday, December 19, 2025 |
| Credit of Shares to Demat | Friday, December 19, 2025 |
| Tentative Listing Date | Monday, December 22, 2025 |
| Cut off time for UPI mandate confirmation | 5 PM on Wednesday, December 17, 2025 |
Key IPO Details
| IPO Date | Mon, Dec 15, 2025 to Wed, Dec 17, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹126 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 37,00,000 shares (aggregating up to ₹46.62 Cr) |
| Reserved for Market Maker | 1,85,000 shares (aggregating up to ₹2.33 Cr) Asnani Stock Broker Pvt.Ltd. |
| Net Offered to Public | 35,15,000 shares (aggregating up to ₹44.29 Cr) |
| Share Holding Pre Issue | 1,00,00,000 shares |
| Share Holding Post Issue | 1,37,00,000 shares |
Galactico Corporate Services 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 Asnani Stock Broker Pvt. Ltd.
Neptune Logitek IPO Reservation
Neptune Logitek IPO offers a total of 37,00,000 shares, allocated as follows:
| Investor Category | Shares Offered | Percentage |
| Market Maker | 1,85,000 | 5.00% |
| NII (HNI) | 17,57,500 | 47.50% |
| Retail (RII) | 17,57,500 | 47.50% |
| Total | 37,00,000 | 100.00% |
Neptune Logitek IPO Lot Size
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereafter.
| Application Category | Lots | Shares | Amount |
| Individual investors (Retail) – Minimum | 2 | 2,000 | ₹2,52,000 |
| Individual investors (Retail) – Maximum | 2 | 2,000 | ₹2,52,000 |
| HNI (Minimum) | 3 | 3,000 | ₹3,78,000 |
Neptune Logitek Ltd. Financials
Neptune Logitek has reported growth in assets, income and profitability over the last reported periods. The company’s revenue increased by 48% and profit after tax (PAT) saw a sharp rise between FY24 and FY25.
Key Company Financials (Restated – ₹ crore)
| Period Ended | 31 Aug 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 122.94 | 119.25 | 95.24 | 74.51 |
| Total Income | 105.52 | 260.74 | 175.76 | 187.71 |
| Profit After Tax (PAT) | 4.02 | 9.16 | 0.00 | -0.18 |
| EBITDA | 9.26 | 21.38 | 9.74 | 5.55 |
| Net Worth | 23.97 | 19.95 | 10.79 | 10.79 |
| Reserves and Surplus | 13.97 | 9.95 | 9.79 | 9.79 |
| Total Borrowing | 56.40 | 58.00 | 62.48 | 38.20 |
Key Performance Indicators (KPI)
As of 31 March 2025:
| KPI | Value |
| Return on Equity (ROE) | 14.89% |
| Return on Capital Employed (ROCE) | 21.25% |
| Debt to Equity | 2.91 |
| Return on Net Worth (RoNW) | 45.89% |
| PAT Margin | 3.56% |
| EBITDA Margin | 8.31% |
| Price to Book Value | 6.32 |
Pre IPO vs Post IPO Metrics
| Metric | Pre IPO | Post IPO |
| EPS (₹) | 9.16 | 7.04 |
| P/E (x) | 13.76 | 17.90 |
| Promoter Holding | 99.99% | 72.99% |
The company’s promoters are Mr Ankit Devidas Shah and Mrs Reema Ankit Shah.
Objects of the Issue – How Will the Funds Be Used?
Neptune Logitek proposes to utilise the net proceeds from the IPO towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crore) |
| 1 | Funding capital expenditure requirements towards the purchase of trucks (vehicles) and ancillary equipment | 33.94 |
| 2 | Funding towards repayment of the loan | 2.00 |
| 3 | Funding expenditure for general corporate purposes | 6.03 |
The focus is primarily on expanding the fleet base, reducing debt, and supporting overall corporate needs.
Neptune Logitek IPO: Peer Comparison
Neptune Logitek IPO can be compared with peers such as TCI Express Ltd, Blue Dart Express Ltd, Gateway Distriparks Ltd, Container Corporation of India Ltd, and Allcargo Logistics Ltd. Reviewing these companies helps investors understand Neptune Logitek’s position within the broader logistics and multimodal transportation sector, providing useful context for assessing competitiveness, scale and long-term growth potential.
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Conclusion
Neptune Logitek Ltd. offers investors exposure to an integrated logistics business that operates across road, rail, air and coastal freight solutions, supported by technology-driven fleet management and a growing asset base. The company has shown improvement in revenue and operating performance, and intends to use IPO proceeds mainly for truck acquisition and balance sheet strengthening.
At the same time, investors should remember that this is a BSE SME IPO, which generally carries higher risk and lower liquidity compared to mainboard listings. Prospective applicants should carefully evaluate the financials, business model, leverage and their own risk profile before making any investment 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.
