Ashwini Container Movers Ltd Sets Course for IPO Success

Ashwini Container Movers Ltd (ACML), a prominent player in cargo transportation, is embarking on a major financial venture, aiming to amass Rs 65 crore via an initial public offering (IPO). The move is designed to support expansive growth strategies as the company sets its sights on further enhancing its operational footprint.

Gaining in-principle approval from NSE Emerge for listing on the SME segment, ACML's IPO plan involves issuing 50 lakh equity shares. Of the anticipated funds, Rs 57 crore will address outstanding loans, strengthening the company's capital structure, while Rs 8 crore will boost the truck fleet expansion.

Financially, ACML has shown robust performance with a profit after tax of Rs 5.46 crore for H1 FY25 and revenue totaling Rs 45.61 crore. Their strategic operations stretch across Maharashtra and Gujarat, utilizing a fleet of over 250 containerized trucks. Corporate Professionals Capital leads the initiative as the book-running manager, with Bigshare Services acting as the registrar.

(With inputs from agencies.)