Iware Supplychain Services Limited IPO

Iware Supplychain Services Limited is gearing up for its Initial Public Offering (IPO) on the NSE Emerge platform. Founded in 2018 and based in Ahmedabad, Gujarat, the company functions as a comprehensive logistics provider across India. Its offerings include warehousing services (such as third-party logistics and carrying & forwarding agent roles), transportation, rake handling, business auxiliary services, and rental income. The company has a broad presence across several states including Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi, ensuring wide-reaching and dependable service coverage. The funds raised from the IPO will be used for expanding the business, supporting working capital needs, and addressing general corporate objectives.

RHP DRHP

Min Investment

₹1,14,000

Price Range

₹95

Issue Size

₹27.13 Cr

IPO Type

SME

Key Metrics

Face Value

₹ 10

EPS

₹ 7.48

P/E Ratio

12.69x x

RoNW

51.05%

ROE

58.52%

Debt to Equity

1.84

Timeline

IPO Opens 28/04/2025

IPO Closes 30/04/2025

Allotment 02/05/2025

Refund 05/05/2025

Listing 06/05/2025

IPO Objectives

Working Capital – To fund day-to-day operational needs and business expansion.
Loan Repayment – To reduce debt and improve financial stability.
Vehicle Purchase – To expand the logistics fleet with new commercial vehicles.
Infrastructure Upgrade – To enhance warehouse and tech capabilities.
General Corporate Purposes – For business development and contingency needs.

Strengths

Wide Geographic Reach – Operates across multiple Indian states, ensuring strong market presence.
Diverse Logistics Services – Offers warehousing, transportation, rake handling, and auxiliary services.
Strong Fleet & Infrastructure – Owns a growing fleet and robust logistics infrastructure.
Experienced Management – Led by a skilled team driving strategic growth and efficiency.
Tech-Driven Operations – Uses ERP, WMS, and automation to streamline logistics and ensure timely deliveries.

Weaknesses

High Working Capital Needs – Significant capital is tied up in receivables and inventories, which could affect liquidity.
Customer Concentration Risk – A large portion of revenue comes from a few key clients, exposing the company to risks if relationships change.
Employee Retention – Employee reviews highlight concerns over compensation, which could impact talent retention.
Geographic Concentration – The company’s operations are primarily focused in specific regions, making it vulnerable to local disruptions.
Intense Competition – The logistics sector is highly competitive, limiting pricing flexibility and potentially affecting margins.