Neptune Logitek Ltd IPO
Status: Closed
Overview
IPO date
15 Dec 2025 to 17 Dec 2025
Face value
₹ 10 per share
Price
₹ 126 to ₹126 per share
Issue Size
3,700,000 shares
(aggregating up to ₹ 46.62 Cr)
(aggregating up to ₹ 46.62 Cr)
Allotment Date
18 Dec 2025
Listing at
NSE
Issue type
Fixed Price - SME
Sector
Diversified
Objectives of Neptune Logitek Ltd IPO
Neptune Logitek Ltd IPO Strategy
About Neptune Logitek Ltd
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T&C*
Strengths vs Risks of Neptune Logitek Ltd
Know the pros & cons
Strengths
We have strong network effects of platform resulting in robust customer retention rates.- Integrated logistics service provider with diversified business offerings.
- Timely and safe deliveries.
- Cordial relations with our clients.
- We are a Promoter-led management team and have an experienced board.
- Skilled and experienced management team with relevant industry experience.
Risks
- The company cargo handling business operations are dependent on container traffic at the various ports such as Kandla Port, Mundra Port, Pipavav Port, Hazira Port, Mangalore Port, Cochin Port, Chennai Port, Tuticorin Port, Kattupalli Port and Vizag Port and other ports. Any decline in the containers traffic handled by these ports, lower than anticipated growth or any significant social, political, economic or geological disruption in these regions could have an adverse effect on its business, results of operations and financial condition.
- The company cargo handling business and Multimodal business require an efficient transportation network and as such, any inadequacies in reliable transportation infrastructure may have an adverse effect on its business, results of operations and financial condition.
- The Company is dependent on a few suppliers for its purchases. The loss of any of these large suppliers may affect the company business operations.
- The company has historically derived a substantial portion of its revenue from a limited number of customers, indicating a high level of customer concentration, which could recur in future periods and adversely impact the company business, results of operations, financial condition and cash flows. Loss of one or more of these customers or a reduction in the amount of business we obtain from them could have an adverse effect on the company business, results of operations, financial conditions and cash flows. Further, we do not have long-term agreements with several of its customers.
- The increase in the age of its vehicles and an increase in the prices of vehicles may adversely affect the company business and results of operations.
- The company inability to manage its diversified operations may has an adverse effect on the company business, results of operations, financial condition and cash flows. Failure to improve diversification of its revenue streams exposes us to risk of concentration of revenue from transportation verticals.
- The company have experienced negative cash flows from operations in the recent past, and we may has negative cash flows in the future.
- The company may be seriously affected by delays in the collection of receivables from its clients and may not be able to recover adequately on the company claims.
- Any adverse development affecting the growth of trade volumes and freight rates may have an adverse effect on our business, results of operations and financial condition.
- We face challenges in passing on cost increases from third-party service providers to our customers, as well as difficulty in adjusting prices downward to reflect any decline in prices we charge our customers to our third-party service providers.
- We are dependent on the performance of industries in which our customers operate and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work we undertake or the price at which we offer our services.
- Our success hinges on our capacity to generate ample freight volumes and maximize revenue to meet targeted profit margins and prevent losses. Any inability to attain the desired operating or net profit margins could negatively impact our business, financial results, overall financial health, and cash flows.
- We depend on our third-party service providers and vendors/suppliers in certain aspects of our operations and unsatisfactory services provided by them or failure to maintain relationships with them could disrupt our operations.
- Any disruptions which affect our ability to utilize our transportation network in an uninterrupted manner could result in delays, additional costs or a loss of reputation or profitability.
- We are subject to various risks associated with transportation and we may face claims relating to loss or damage to cargo, personal injury claims or other operating risks that are not adequately insured.
- Escalation in fuel prices may adversely affect our profitability, operational results, and cash flows.
- We operate in a highly fragmented and competitive industry and may not be able to maintain our market position which may adversely affect our business, financial condition, results of operation and cash flows.
- Failure to successfully implement our business strategies may materially and adversely affect our business, prospects, financial condition and results of operations.
- Fraud, theft, employee negligence or similar incidents may adversely affect our results of operations and financial condition.
- Our Company operates without any truck drivers on our payroll and outsources drivers on an assignment basis. Our inability to source skilled and experienced drivers may adversely impact our business, results of operations and financial results.
- Our owned and leased premises including branch offices and godown are located are susceptible to operating risks. Moreover, if some of these leases are terminated or not renewed on favourable terms, or at all, our business, financial condition, results of operations and cash flows could be adversely affected.
- Dependence on technology and potential changes therein may adversely affect our business operations and competitiveness.
- We do not verify the contents of the cargo transported by us, thereby exposing us to the risks associated with the transportation of goods in violation of applicable regulations.
- Our revenues are generated from state of Gujarat. Any adverse development affecting our operations in this region could have an adverse impact on our business, financial condition and results of operations.
- We are subject to foreign currency exchange rate fluctuations which could have a material and adverse effect on the results of operations and financial conditions.
- Dependence on Customer Relationships and Contractual Agreements.
- We may be seriously affected by delays in the collection of receivables from our clients and may not be able to recover adequately on our claims.
- We have experienced negative cash flows from operations in the recent past, and we may have negative cash flows in the future.
- If we are unable to service our debt obligations in a timely manner or to comply with various financial and other covenants and other terms and conditions of our financing agreements, it may adversely affect our business, prospects, results of operations and financial condition.
- Our lenders have charge over our properties in respect of finance availed by us and, in the event of default in repayment, our properties may be forfeited by the lenders.
- We have experienced significant working capital requirements in past and may continue to experience in future also. If we experience insufficient cash flows from our operations or are unable to borrow to meet our working capital requirements, it may materially and adversely affect our business, cash flows and results of operations.
- We have entered into related party transactions in the past and may continue to do so in the future also, which may affect our competitive edge and better bargaining power if entered with non-related parties resulting into relatively more favourable terms and conditions and better margins.
- In case of our inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate our business it may have a material adverse effect on our business.
- At present, our Company has applied for certain licenses and approvals and certain licenses and approvals are yet to be applied by our Company and the failure to obtain or renew them in a timely manner may adversely affect our business operations.
- There are outstanding legal proceedings involving our Company. Any adverse outcome in such proceedings may have an adverse impact on our reputation, business, financial condition, results of operations and cash flows.
- There are certain instances of delays in the past with ROC Statutory Authorities.
- The Company does not have Custom House Agent license and relies on third-party services providers, which may expose its to operational delays.
- The Company has provided personal guarantees for loan facilities availed by its Promoters, which may adversely affect the company financial condition and operations.
- Our operations could be adversely affected by strikes, work stoppages or increased wage demands by our employees or any other kind of disputes with our employees.
- Our insurance coverage may not be adequate to protect us against certain operating hazards and this may have a material adverse effect on our business.
- One of our KMP is associated with our Company for less than one year.
- Our success depends largely upon the services of our Directors, Promoters and other Key Managerial Personnel and our ability to attract and retain them. Demand for key managerial personnel in the industry is intense and our inability to attract and retain key managerial, may affect the business and operations of our Company.
- Our Promoters and the Promoter Group will jointly continue to retain majority shareholding in our Company after the Issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Any variation in the utilization of the Net Proceeds as disclosed in this Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of our Company.
- There is no monitoring agency appointed by the Company to monitor the utilizations of the Issue proceeds and deployment of the issue is entirely at the discretion of the issuer.
- Our funding requirements and proposed deployment of the Net Proceeds of the Fresh Issue are based on management estimates. We have not entered into any definitive arrangements to utilize certain portions of the Net Proceeds of the Fresh Issue. We have relied on the quotations received from third parties for estimation of the cost for our capital expenditure requirements and have not been independently appraised by a bank or a financial institution.
- We have not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at our discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Its intend to utilise a portion of the Net Proceeds for funding the company Capital Expenditure for purchase of trucks and equipment. The company is yet to place orders for such equipment.
- There are restrictions on daily movements in the price of the Equity Shares, it may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particulars point in time.
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by our major shareholders may adversely affect the trading price of our Equity Shares.
- The average cost of acquisition of Equity Shares by our Promoter, are lower than the face value of Equity Share.
- The company ability to pays any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- Industry information included in this Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- Certain data mentioned in this Prospectus has not been independently verified.
- The logo used by our Company is not registered under the Trade Marks Act, 1999. Failure to protect our intellectual property rights may adversely affect our competitive business position, financial condition and profitability.
- We have in this Prospectus included certain Non-GAAP Measures that may vary from any standard methodology that is applicable across the industries in which we operate and may not be comparable with financial information of similar nomenclature computed and presented by other companies.
Neptune Logitek Ltd Peer Comparison
Understand the company’s industry standing
Neptune Logitek Limited
S J Logistics (India) Limited
Tejas Cargo India Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
260.7441
331.6498
508.0967
EPS-Basis
9.16
19.09
10.48
EPS-Diluted
9.16
19.09
10.48
NAV Per Share
19.95
113.89
72.45
P/E-Basic EPS
---
27.52
15.74
P/E-Diluted EPS
---
---
---
RONW(%)
45.89
16.35
11.03
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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Enter details- PAN, Application number or DP client ID
Get your allotment status
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The IPO opens on 15 Dec 2025 & closes on 17 Dec 2025.
Neptune Logitek Limited was originally incorporated as Amardeep Logistics Private Limited, a private limited company dated March 2, 2012. Subsequently, the name of the Company was changed to Neptune Logitek Private Limited and a fresh Certificate of Incorporation was issued by the Registrar of Companies, Ahmedabad on April 5, 2022. Thereafter, the status of the Company converted from a private limited company to a public limited company and name of the Company was changed from Neptune Logitek Private Limited to Neptune Logitek Limited, and a fresh Certificate of Incorporation was issued by the Registrar of Companies, Ahmedabad on November 20, 2024.
With over 13 years of experience, Company offers integrated logistics solutions across air, road, rail, and coastal modes through a pan-India network of head office and 9 branches. It specializes in a range of transportation and logistics services, including Land transport and transport via pipelines, Freight transport by road, Motorized road freight transport, Water transport, including sea and coastal freight services. Its key services include freight forwarding, customs clearance, air and courier services, multimodal transport, and technology-driven supply chain solutions.
Key technological features include GPS-enabled fleet management systems, real-time vehicle tracking, and an auto on/off feature for engine monitoring and control. These technologies enhance safety, reduce idle time, and ensure better utilization of fleet resources. Additionally, it utilize predictive analytics to anticipate demand fluctuations and optimize route planning, along with automated workflows that support data-driven decision-making.
Under the business operations, it provide seamless rail transport services from Maliya to Mundra. This collaboration ensures an integrated logistics solution, combining efficient rail transport and port services to streamline the movement of goods, particularly bulk commodities and containerized cargo, between key industrial hubs and one of India's busiest ports, Mundra Port. This service is an integral part of multi-modal logistics approach, which combines rail, road, and port services to create a seamless supply chain.
Company has increased the fleets and fleet operators, the number of fleets owned as financial year ending on March 31, 2025 to 199 from 217. Company is planning an IPO of 40,00,000 equity shares of face value Rs 10 each via fresh issue.
Neptune Logitek Ltd IPO will close on 17 Dec 2025.
- We have strong network effects of platform resulting in robust customer retention rates.
- Integrated logistics service provider with diversified business offerings.
- Timely and safe deliveries.
- Cordial relations with our clients.
- We are a Promoter-led management team and have an experienced board.
- Skilled and experienced management team with relevant industry experience.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Ankit Devidas Shah | 6399995 | 63.99 | 6399995 | 46.72 |
| 2 | Reema Ankit Shah | 3600000 | 36 | 3600000 | 26.27 |
- The company cargo handling business operations are dependent on container traffic at the various ports such as Kandla Port, Mundra Port, Pipavav Port, Hazira Port, Mangalore Port, Cochin Port, Chennai Port, Tuticorin Port, Kattupalli Port and Vizag Port and other ports. Any decline in the containers traffic handled by these ports, lower than anticipated growth or any significant social, political, economic or geological disruption in these regions could have an adverse effect on its business, results of operations and financial condition.
- The company cargo handling business and Multimodal business require an efficient transportation network and as such, any inadequacies in reliable transportation infrastructure may have an adverse effect on its business, results of operations and financial condition.
- The Company is dependent on a few suppliers for its purchases. The loss of any of these large suppliers may affect the company business operations.
- The company has historically derived a substantial portion of its revenue from a limited number of customers, indicating a high level of customer concentration, which could recur in future periods and adversely impact the company business, results of operations, financial condition and cash flows. Loss of one or more of these customers or a reduction in the amount of business we obtain from them could have an adverse effect on the company business, results of operations, financial conditions and cash flows. Further, we do not have long-term agreements with several of its customers.
- The increase in the age of its vehicles and an increase in the prices of vehicles may adversely affect the company business and results of operations.
- The company inability to manage its diversified operations may has an adverse effect on the company business, results of operations, financial condition and cash flows. Failure to improve diversification of its revenue streams exposes us to risk of concentration of revenue from transportation verticals.
- The company have experienced negative cash flows from operations in the recent past, and we may has negative cash flows in the future.
- The company may be seriously affected by delays in the collection of receivables from its clients and may not be able to recover adequately on the company claims.
- Any adverse development affecting the growth of trade volumes and freight rates may have an adverse effect on our business, results of operations and financial condition.
- We face challenges in passing on cost increases from third-party service providers to our customers, as well as difficulty in adjusting prices downward to reflect any decline in prices we charge our customers to our third-party service providers.
- We are dependent on the performance of industries in which our customers operate and fluctuations in the performance of such industries may result in a loss of such customers, a decrease in the volume of work we undertake or the price at which we offer our services.
- Our success hinges on our capacity to generate ample freight volumes and maximize revenue to meet targeted profit margins and prevent losses. Any inability to attain the desired operating or net profit margins could negatively impact our business, financial results, overall financial health, and cash flows.
- We depend on our third-party service providers and vendors/suppliers in certain aspects of our operations and unsatisfactory services provided by them or failure to maintain relationships with them could disrupt our operations.
- Any disruptions which affect our ability to utilize our transportation network in an uninterrupted manner could result in delays, additional costs or a loss of reputation or profitability.
- We are subject to various risks associated with transportation and we may face claims relating to loss or damage to cargo, personal injury claims or other operating risks that are not adequately insured.
- Escalation in fuel prices may adversely affect our profitability, operational results, and cash flows.
- We operate in a highly fragmented and competitive industry and may not be able to maintain our market position which may adversely affect our business, financial condition, results of operation and cash flows.
- Failure to successfully implement our business strategies may materially and adversely affect our business, prospects, financial condition and results of operations.
- Fraud, theft, employee negligence or similar incidents may adversely affect our results of operations and financial condition.
- Our Company operates without any truck drivers on our payroll and outsources drivers on an assignment basis. Our inability to source skilled and experienced drivers may adversely impact our business, results of operations and financial results.
- Our owned and leased premises including branch offices and godown are located are susceptible to operating risks. Moreover, if some of these leases are terminated or not renewed on favourable terms, or at all, our business, financial condition, results of operations and cash flows could be adversely affected.
- Dependence on technology and potential changes therein may adversely affect our business operations and competitiveness.
- We do not verify the contents of the cargo transported by us, thereby exposing us to the risks associated with the transportation of goods in violation of applicable regulations.
- Our revenues are generated from state of Gujarat. Any adverse development affecting our operations in this region could have an adverse impact on our business, financial condition and results of operations.
- We are subject to foreign currency exchange rate fluctuations which could have a material and adverse effect on the results of operations and financial conditions.
- Dependence on Customer Relationships and Contractual Agreements.
- We may be seriously affected by delays in the collection of receivables from our clients and may not be able to recover adequately on our claims.
- We have experienced negative cash flows from operations in the recent past, and we may have negative cash flows in the future.
- If we are unable to service our debt obligations in a timely manner or to comply with various financial and other covenants and other terms and conditions of our financing agreements, it may adversely affect our business, prospects, results of operations and financial condition.
- Our lenders have charge over our properties in respect of finance availed by us and, in the event of default in repayment, our properties may be forfeited by the lenders.
- We have experienced significant working capital requirements in past and may continue to experience in future also. If we experience insufficient cash flows from our operations or are unable to borrow to meet our working capital requirements, it may materially and adversely affect our business, cash flows and results of operations.
- We have entered into related party transactions in the past and may continue to do so in the future also, which may affect our competitive edge and better bargaining power if entered with non-related parties resulting into relatively more favourable terms and conditions and better margins.
- In case of our inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate our business it may have a material adverse effect on our business.
- At present, our Company has applied for certain licenses and approvals and certain licenses and approvals are yet to be applied by our Company and the failure to obtain or renew them in a timely manner may adversely affect our business operations.
- There are outstanding legal proceedings involving our Company. Any adverse outcome in such proceedings may have an adverse impact on our reputation, business, financial condition, results of operations and cash flows.
- There are certain instances of delays in the past with ROC Statutory Authorities.
- The Company does not have Custom House Agent license and relies on third-party services providers, which may expose its to operational delays.
- The Company has provided personal guarantees for loan facilities availed by its Promoters, which may adversely affect the company financial condition and operations.
- Our operations could be adversely affected by strikes, work stoppages or increased wage demands by our employees or any other kind of disputes with our employees.
- Our insurance coverage may not be adequate to protect us against certain operating hazards and this may have a material adverse effect on our business.
- One of our KMP is associated with our Company for less than one year.
- Our success depends largely upon the services of our Directors, Promoters and other Key Managerial Personnel and our ability to attract and retain them. Demand for key managerial personnel in the industry is intense and our inability to attract and retain key managerial, may affect the business and operations of our Company.
- Our Promoters and the Promoter Group will jointly continue to retain majority shareholding in our Company after the Issue, which will allow them to determine the outcome of the matters requiring the approval of shareholders.
- Any variation in the utilization of the Net Proceeds as disclosed in this Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of our Company.
- There is no monitoring agency appointed by the Company to monitor the utilizations of the Issue proceeds and deployment of the issue is entirely at the discretion of the issuer.
- Our funding requirements and proposed deployment of the Net Proceeds of the Fresh Issue are based on management estimates. We have not entered into any definitive arrangements to utilize certain portions of the Net Proceeds of the Fresh Issue. We have relied on the quotations received from third parties for estimation of the cost for our capital expenditure requirements and have not been independently appraised by a bank or a financial institution.
- We have not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at our discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Its intend to utilise a portion of the Net Proceeds for funding the company Capital Expenditure for purchase of trucks and equipment. The company is yet to place orders for such equipment.
- There are restrictions on daily movements in the price of the Equity Shares, it may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particulars point in time.
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by our major shareholders may adversely affect the trading price of our Equity Shares.
- The average cost of acquisition of Equity Shares by our Promoter, are lower than the face value of Equity Share.
- The company ability to pays any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- Industry information included in this Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
- Certain data mentioned in this Prospectus has not been independently verified.
- The logo used by our Company is not registered under the Trade Marks Act, 1999. Failure to protect our intellectual property rights may adversely affect our competitive business position, financial condition and profitability.
- We have in this Prospectus included certain Non-GAAP Measures that may vary from any standard methodology that is applicable across the industries in which we operate and may not be comparable with financial information of similar nomenclature computed and presented by other companies.
The Issue type of Neptune Logitek Ltd is Fixed Price - SME.
The minimum application for shares of Neptune Logitek Ltd is 2000.
The total shares issue of Neptune Logitek Ltd is 3700000.
Initial public issue of 37,00,000 equity shares of face value of Rs.10/- each ("Equity Shares") of Neptune Logitek Ltd (the "Company" or the "Issuer") for cash at a price of Rs. 126/- per equity share (including a securities premium of Rs. 116/- per equity share), ("Issue Price") aggregating to Rs. 46.62 crores (the "Issue"). 1,85,000 equity shares aggregating to Rs. 2.33 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The issue less market maker reservation portion i.e. issue of 35,15,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 126 per equity share aggregating to Rs. 44.29 crores is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 27.01% and 25.66% respectively of the post issue paid-up equity share capital of the company.
Issue Price is Rs. 126 per equity share of face value of 10/- each.
The issue price is 12.60 times the face value of the equity shares.
Bids can be made for a minimum of 2000 equity shares and in multiples of 1000 equity shares thereafter.