Pooja Logistics IPO

Pooja Logistics Limitedpoojalogistics.in

ListedSMEIndustrialsNSE Emerge

Price band: ₹109 – ₹115
Issue size: ₹44.23 Cr
Lot size: 1200 sh
Bidding: 23 – 25 Sep
Grey market: —

Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.

The question this issue poses

In one sentence

Pooja Logistics runs refrigerated road transport for perishable goods, with an in-house fleet of 424 GPS-enabled vehicles as of 31 March 2026 and around 101 employees as of 31 July 2026. Revenue from operations was Rs 123.75 Cr in FY24, Rs 148.77 Cr in FY25 (20.22% higher) and Rs 165.70 Cr in FY26 (11.38% higher), with profit after tax of Rs 5.73 Cr, Rs 11.02 Cr and Rs 12.34 Cr across the same three years. The issue was entirely fresh, Rs 44.23 Cr at a band of Rs 109-115 with no offer-for-sale component, and the record states that Rs 33.97 Cr of it, or 76.80%, was earmarked for 92 new vehicles. The book closed 3.11 times subscribed overall; the shares listed at Rs 118 against the band top of Rs 115 and last traded at Rs 120.40 on 23 October 2026.

IPOVista score

How this issue scores, and why

Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.

64Balanced

IPOVista score

A trade-off in both directions

63% of the scoring model was backed by disclosed data for Pooja Logistics, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.

How this score is built

PillarScoreWeight

Below the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.

Read this before the number

SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.

The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.

The company

What the business actually does

Founded 2011 · New Delhi, India · 101 employees

Pooja Logistics runs refrigerated road transport for goods that spoil. It moves chilled and frozen consignments across India in reefer trucks, collecting at a customer's origin warehouse, holding a specified temperature in transit, and delivering against verification. Its in-house fleet was 424 GPS-enabled vehicles as of 31 March 2026, in a range of sizes and capacities, and it hires additional trucks when its own are committed. Customers are confectionery, dairy, quick-service restaurant, pharmaceutical and e-commerce businesses; FMCG accounted for 95.07% of revenue from operations in FY26. Work is booked trip by trip rather than on long-term leases. The company is based in Delhi, holds FSSAI certification, and employed around 101 people as of 31 July 2026.

Revenue is freight billed per trip, recognised on completion of the delivery. In FY26 revenue from operations was Rs 165.70 crore and EBITDA Rs 27.30 crore, a 16.48% margin. Fuel, tolls, hire charges and running the refrigeration units are the principal costs; most customer contracts carry diesel/cost-variation clauses that reset rates, though the RHP notes the full swing is not always recoverable. The structural constraint is fleet ownership: owned trucks generated 67.63% of FY26 revenue and hired trucks the remaining 32.37% at higher cost, so Rs 33.97 crore of the issue was earmarked for 92 new vehicles. Demand is concentrated — the single largest customer was 27.69% of FY26 revenue.

The company on paper

Legal name: Pooja Logistics Limited
IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first: 9 Dec 2011
CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA: U60300DL2011PLC228491
Sector: Industrials · Temperature-controlled (reefer) road transport for perishable goods
Employees: 101
Registered office: New Delhi, India
Promoters: Deepak Khanna, Anu Khanna
Promoter holding, pre-issue: 93.7%
Promoter holding, post-issue: 68.5%
Website: poojalogistics.in

The numbers

Financial performance

Revenue has compounded at 15.7% a year across the 3 reported financial years.

Revenue and profit

Figures in ₹ crore, as published in the accounts this record was built from. Interim quarters are not annualised.

Revenue
Profit after tax

Margin trend

Profit and operating margin as a percentage of revenue

Net margin
EBITDA margin

Net worth and borrowings

At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.

Net worth
Total borrowings

The price

Valuation

What the issue asks for the business, set against what the business earns.

No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.

The terms

How the issue is structured

100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.

Fresh issueNew shares — proceeds go to the company: ₹44.23 Cr
Offer for saleExisting shares — proceeds go to the selling shareholders: ₹0
Total issue size: ₹44.23 Cr
Shares offered in the OFS: —
Pre-issue shares outstanding: —
Employee discount: —
Market maker portionSME issues require a market maker to provide two-way quotes: 1,98,000

What the issue does to ownership

Share of paid-up equity before and after the offer. The promoters give up 25.2% of the company.

Promoters
Everyone else

Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.

Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.

Demand

What the market is bidding

Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.

Subscription by category

Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.

Hover or focus a category to see who bids in it.

Total subscription3.11×

A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.

Grey market premium

Unofficial over-the-counter sentiment

No grey-market quotes have been recorded for this issue.

Outcome

How it actually listed

Issue price: ₹115.00
Listed at: ₹118.00
Listing gain: up 2.6%
Since listing: down 13.2%
Against the issue price: down 10.9%

Work it out

What this means for one application

Three calculations, each stating the assumption it rests on.

What one application costs

Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.

Lots

Shares applied for: 2,400
At cut-off price: ₹115.00
Amount blocked: ₹2,76,000

One lot is 1200 shares at ₹1,38,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,76,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.

Odds of getting an allotment

When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.

~35%

chance of one lot, per application

Retail subscription: 2.86×
Applicants per share available: 2.9× the retail quota

This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.

What it actually did

This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.

₹118.00

listed at, 2.6% against the issue price

Issue price: ₹115.00
Premium said: —
If allotted 1200 shares: ₹3,600

Listing-day figures are as reported by the exchanges.

Our read

The case for and against

Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.

What works

Revenue from operations rose in each year the record carries: Rs 123.75 Cr in FY24, Rs 148.77 Cr in FY25 (up 20.22%) and Rs 165.70 Cr in FY26 (up 11.38%).
EBITDA margin was 15.46% in FY24 (Rs 19.13 Cr on Rs 123.75 Cr), 15.52% in FY25 (Rs 23.09 Cr on Rs 148.77 Cr) and 16.48% in FY26 (Rs 27.30 Cr on Rs 165.70 Cr), higher in each of the two years that have a prior year to compare against.
Profit after tax was Rs 5.73 Cr in FY24, Rs 11.02 Cr in FY25 (up 92.32%) and Rs 12.34 Cr in FY26 (up 11.98%), taking the PAT margin from 4.63% to 7.41% and then 7.45% of revenue from operations.
Total borrowings measured against net worth were 2.09x in FY24 (Rs 31.03 Cr against Rs 14.83 Cr), 1.12x in FY25 (Rs 29.00 Cr against Rs 25.85 Cr) and 0.93x in FY26 (Rs 39.21 Cr against Rs 42.31 Cr), lower in each of the two comparable years.

What to weigh against it

Revenue is concentrated: the single largest customer was 27.69% of FY26 revenue and FMCG customers accounted for 95.07% of FY26 revenue from operations. The record states that work is booked trip by trip rather than on long-term leases.
Owned trucks generated 67.63% of FY26 revenue and hired trucks the remaining 32.37%, which the record describes as being at higher cost.
Total borrowings were Rs 31.03 Cr in FY24, Rs 29.00 Cr in FY25 and Rs 39.21 Cr in FY26, a 35.21% increase in the latest year on record, against net worth of Rs 42.31 Cr at 31 March 2026.
On costs, the record states that most customer contracts carry diesel and cost-variation clauses that reset rates, and that the RHP notes the full swing is not always recoverable. Fuel, tolls, hire charges and running the refrigeration units are listed as the principal costs.

Easy to miss in the prospectus

The owned-versus-hired revenue split, 67.63% and 32.37% in FY26, alongside deployment of the Rs 33.97 Cr earmarked for 92 vehicles against the 424-vehicle fleet reported at 31 March 2026.
Customer concentration as subsequently disclosed, against the FY26 baseline of 27.69% for the largest customer and 95.07% for FMCG.
Total borrowings against net worth, last Rs 39.21 Cr against Rs 42.31 Cr (0.93x) at 31 March 2026, which is the position before the Rs 44.23 Cr fresh issue.

Straight from the filing

Read it yourself

The prospectus for this issue exists, but the only copy held here is a third party’s mirror of it. We link filings from the issuer, the exchanges or the regulator, never somebody else’s copy.

The paperwork

Who is running the issue

Lead managers: Share India Capital Services Private Limited
RegistrarAllotment status is checked on the registrar's own site: Maashitla Securities Private Limited

How these figures were checked

Built from 10 independently published accounts of this issue, agreeing with each other. No copy of the filing itself is linked here, so nothing on this page has been reconciled against the primary document — treat every figure as reported rather than verified.

The prospectus is the authoritative document. Check anything that matters against it before you act.

At a glance

Board: SME platform
Opens: 23 Sep 2026
Closes: 25 Sep 2026
Allotment: 28 Sep 2026
Lists: 30 Sep 2026
Revenue (FY26): ₹166 Cr
Profit (FY26): ₹12.34 Cr

Timeline

Every step in this issue's calendar has passed.

Tap a step for what it means. Dates are as disclosed in the prospectus and can move.

On this page

IPOVista publishes research and data compiled from public filings and exchange disclosures. Nothing here is investment advice, a recommendation, or an offer to buy or sell any security. Figures can contain errors and sources can be stale — verify against the prospectus before you act, and speak to a SEBI-registered adviser. Investing in securities carries risk, including loss of capital.