Cargo transportation provider Ashwini Container Movers Ltd. is looking to raise Rs 65 crore through its initial public offering to support business expansion plans. The company has already received in-principle approval from NSE Emerge for listing on the SME segment.
The Navi Mumbai-based company's proposed IPO will comprise issuance of 50 lakh equity shares and a significant portion of the proceeds, about Rs 57 crore will be allocated for repayment/prepayment of outstanding loans to optimise the company's capital structure, while Rs 8 crore will be used to fund capital expenditure for expanding its truck fleet and a portion will be used for general corporate purposes, according to the draft papers.
On the financial front, ACML reported a profit after tax of Rs 5.46 crore and revenue of Rs 45.61 crore in first half of fiscal 2025. In full fiscal 2024, it posted a profit of Rs 1.37 crore and revenue of Rs 78.77 crore.
ACML, a cargo transportation specialist with major operations in Maharashtra and Gujarat, leverages a fleet of over 250 containerised trucks.
Corporate Professionals Capital is the book-running lead manager, and Bigshare Services is the registrar to the issue.
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