Om Freight Forwarders Files IPO Draft Papers; Fresh Issue Size Rs 25 Crore

Om Freight Forwarders Ltd. has filed draft red herring prospectus with the Securities and Exchange Board of India to raise funds via an initial public offering, as per a release issued by the Mumbai-based logistics firm on Tuesday.

The IPO will consist of both fresh issue and an offer for sale. Through the fresh issue component, the company aims to mop up Rs 25 crore. Promoters of the Mumbai-based firm will also offload 72.5 lakh shares through the OFS, as per a release. The OFS size was not mentioned.

Among the promoters, Rahul Jagannath Joshi will offload 39.8 lakh shares, while Harmesh Rahul Joshi will sell 25.3 lakh shares and Kamesh Rahul Joshi will sell 7.25 lakh shares.

The offer is made through the book-building process wherein at least 50% of the IPO will be available for allocation to qualified institutional buyers on proportionate basis, not more than 15% will be provided to non-institutional bidders and retail individual bidders will be allocated at least 35% of the offer, the release said.

The proceeds received from the fresh issue of up to Rs 16.64 crore will be utilised towards funding the capital expenditure requirements of the company, including acquisition of commercial vehicle and heavy equipment and for general corporate purposes.

Smart Horizon Capital Advisors Pvt. is the sole book-running lead manager and Bigshare Services Pvt. is the registrar of the offer. The shares of the company will be listed on both NSE and BSE, the release said.

The third-party logistics provider's revenue from operations stood at Rs 410.5 crore during fiscal 2024 and its net profit for the same period was recorded at Rs 10.35 crore.

The company's revenue in the July-September quarter of fiscal 2025 came in at Rs 250.29, crore while its net profit in the same period stood at Rs 13.22 crore.