IPO Overview
Incorporated on December 9, 2011, Pooja Logistics Limited is a specialized temperature-controlled logistics company engaged in the transportation of perishable goods across India through its own fleet of refrigerated trucks, commonly known as reefers. The company specializes in the movement of temperature-sensitive products through a fleet of refrigerated trucks. As of 31 August 2025, the company operates an in-house fleet of more than 357 GPS-enabled vehicles, enabling it to serve a diverse set of industries including confectionery, dairy and dairy products, quick-service restaurants (QSRs), pharmaceuticals, and e-commerce. The company primarily follows a trip-to-trip logistics model, allowing clients to schedule transportation based on specific shipment requirements. Its operations are supported by technology-enabled systems, including GPS-based vehicle tracking through “Geo Trackers,” temperature monitoring reports for refrigerated units, and driver and truck management systems.
The company is launching its SME IPO on the NSE SME platform, aiming to raise approximately ₹44 crore through a fresh issue of 38,46,000 equity shares. The price band is ₹109 to ₹115 per share with a lot size of 1,200 shares. The IPO opens on 23 September 2026 and closes on 25 September 2026, with listing expected on 30 September 2026 on NSE SME.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | NSE SME |
| IPO Open Date | 23 September 2026 |
| IPO Close Date | 25 September 2026 |
| Allotment Date | 28 September 2026 (Expected) |
| Listing Date | 30 September 2026 (Tentative) |
| Price Band | ₹109 – ₹115 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,200 shares |
| Minimum Investment (Retail) | ₹1,38,000 (approx) |
| Issue Size | ₹44 crore (approx) |
| Fresh Issue | 38,46,000 shares |
| Offer For Sale (OFS) | Nil |
Note: The entire IPO is a fresh issue — no offer-for-sale component. All proceeds go directly to the company.
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | ~50% |
| Non-Institutional Investors (NII/HNI) | ~15% |
| Retail Individual Investors (RII) | ~35% |
| Market Maker | Reserved Portion |
OFS / Selling Shareholders
There is no Offer For Sale (OFS) in this IPO. The entire issue is a fresh issue, and all IPO proceeds will be received directly by the company for fleet expansion and business use.
Objects of the Issue (Fund Utilization)
The objects of the issue are listed as purchase of vehicles and general corporate purposes. The exact split of the ₹44 crore proceeds is not publicly disclosed and must be read in the RHP.
- Purchase of refrigerated vehicles (reefers) for fleet expansion
- General corporate purposes
Lead Managers & Registrar
- Book Running Lead Manager: Share India Capital Services Pvt. Ltd.
- Registrar to the Issue: Maashitla Securities Pvt. Ltd.
Promoters & Management
The promoters of Pooja Logistics are Mr. Deepak Khanna and Ms. Anu Khanna. Promoter ownership will decline from 93.68% before the issue to 68.45% afterwards, while remaining comfortably above majority control. The promoters bring over a decade of hands-on experience in building and operating cold chain logistics infrastructure across India.
Company Details
Pooja Logistics Limited is a dedicated cold chain logistics player focused exclusively on temperature-controlled transportation of perishable goods. The company owns and operates its entire fleet in-house, giving it full control over service quality, availability, and delivery schedules. Its technology stack includes GPS-based tracking, temperature monitoring systems, and driver management tools that enable real-time visibility across the supply chain.
Sectors Served:
- Confectionery & Bakery
- Dairy & Dairy Products
- Quick-Service Restaurants (QSR)
- Pharmaceuticals
- E-Commerce (perishables)
Key Capabilities:
- Owned fleet of 357+ GPS-enabled refrigerated trucks (reefers)
- Trip-to-trip logistics model offering scheduling flexibility to clients
- Real-time temperature monitoring and GPS tracking via “Geo Trackers”
- Driver and truck management systems for operational efficiency
Registered Office:
- 4, Community Centre, Industrial Area, Lawrence Road, Delhi – 110035
Financial Snapshot
| Period | Revenue (₹ Cr) | PAT (₹ Cr) |
| FY24 | ₹125.14 | ₹5.73 |
| FY25 | ₹150.49 | ₹11.02 |
Key Financial Metrics
- FY25 revenue grew 20% and profit nearly doubled YoY.
- Borrowing of ₹29 crore is high against a net worth of ₹25.85 crore, giving a debt-to-equity ratio of 1.12 — reflecting the capital-heavy nature of the reefer fleet business.
Company Strengths
- Operates in the specialized temperature-controlled logistics segment — a structurally growing niche in India’s cold chain infrastructure.
- An owned fleet gives the company greater control over service quality, vehicle availability, tracking and delivery schedules. Its geographic reach and long-standing customer relationships support repeat business.
- Strong profit growth — PAT nearly doubled from ₹5.73 crore in FY24 to ₹11.02 crore in FY25, demonstrating improving operational efficiency.
- Technology-enabled operations with GPS tracking, temperature monitoring, and driver management systems providing real-time supply chain visibility.
- Entire IPO is a fresh issue — all proceeds directed towards fleet expansion, with no promoter exit.
- Promoter experience and organisational stability strengthen execution capabilities.
Key Risks & Challenges
- This is a capital-heavy business. Reefer trucks are costly, wear out and need continuous replacement, so capital spending does not stop after this issue.
- Borrowing of ₹29 crore is high against a net worth of ₹25.85 crore — a debt-to-equity ratio of 1.12.
- Diesel and driver costs are the main operating expenses and both move outside the company’s control.
- Cold chain work carries real liability. A refrigeration failure does not just delay a consignment — it destroys it, and the carrier bears that risk.
- Only two years of financial data are available in the RHP, limiting the ability to assess long-term consistency.
- SME IPO liquidity risk — limited secondary market trading volumes on NSE SME platform after listing.
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
