Sampark India Logistics IPO

Sampark India Logistics Limitedsilpl.rathigroup.info

ListedSMEIndustrialsBSE SME

Price band: ₹80 – ₹84
Issue size: ₹27.22 Cr
Lot size: 1600 sh
Bidding: 30 Jun – 2 Jul
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

Sampark India Logistics is a third-party freight forwarder and carrying-and-forwarding agent: the record describes it as moving other companies' goods by road, air and rail and running contract warehouse space, from 50 branch offices across 18 states with 344 employees as at 30 April 2026. Revenue was Rs 188.17 Cr in FY23, Rs 181.49 Cr in FY24 and Rs 200.97 Cr in FY25, while EBITDA over the same three years was Rs 8.33 Cr, Rs 12.01 Cr and Rs 16.16 Cr — margins of 4.43%, 6.62% and 8.04%. The Rs 27.22 Cr issue was entirely fresh, with the offer-for-sale component nil, priced in a Rs 80–84 band on BSE SME, and the record states that Rs 19.72 Cr of it, 72.46% of issue size, was earmarked for working capital. It was subscribed 4.95 times on day three, listed at Rs 89, and last traded at Rs 127.9 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.

58Balanced

IPOVista score

A trade-off in both directions

63% of the scoring model was backed by disclosed data for Sampark India 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 2012 · New Delhi, India (registered office); corporate office at Faridabad, Haryana · 344 employees

Sampark India Logistics Limited is a freight forwarder and carrying-and-forwarding agent: it moves other companies' goods rather than owning any cargo itself. It books shipments by road, air and rail, and runs warehouse space where customers' stock is stored and distributed onward. Freight was 77.61% of revenue in the nine months to 31 December 2025, and within that freight income road was 46.41%, air 46.94% and rail 6.65%; warehouse operations added 3.53% of revenue. Customers are businesses in automotive, pharmaceuticals, consumer durables and textiles; there is no consumer-facing arm. The company ran 50 branch offices across 18 states and employed 344 people as of 30 April 2026. Its registered office is in New Delhi and its corporate office in Faridabad, Haryana.

Revenue is the freight it bills shippers; the main cost is the road, air and rail capacity it buys from carriers, so earnings are the spread on bought-in haulage rather than a margin on owned assets. That spread is thin but widening: operating margin was 4.43% in FY23, 6.62% in FY24, 8.04% in FY25 and 8.48% in the nine months to 31 December 2025. The structural constraint is working capital — the assessed requirement rose from Rs 26.56 crore (FY23) to Rs 48.59 crore (December 2025), funded largely by borrowings of Rs 39.15 crore against Rs 43.93 crore of net worth. Rs 19.72 crore of the issue, 72.46% of issue size, was earmarked for working capital.

The company on paper

Legal name: Sampark India Logistics Limited
IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first: 1 Dec 2012
CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA: U63090DL2012PLC245542
Sector: Industrials · Third-party freight forwarding by road, air and rail with contract warehousing for B2B shippers
Employees: 344
Registered office: New Delhi, India (registered office); corporate office at Faridabad, Haryana
Promoters: Sanjay Kumar Rathi, Renu Rathi
Promoter holding, pre-issue: 97.8%
Promoter holding, post-issue: 71.9%
Website: silpl.rathigroup.info

The numbers

Financial performance

Revenue has compounded at 3.3% a year across the 3 reported financial years.

Revenue and profit

Figures in ₹ crore, as reported in the prospectus. 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: ₹27.22 Cr
Offer for saleExisting shares — proceeds go to the selling shareholders: ₹0
Total issue size: ₹27.22 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: 1,63,200

What the issue does to ownership

Share of paid-up equity before and after the offer. The promoters give up 25.8% 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 subscription4.95×

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: ₹84.00
Listed at: ₹89.00
Listing gain: up 6.0%
Since listing: up 47.8%
Against the issue price: up 56.5%

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: 3,200
At cut-off price: ₹84.00
Amount blocked: ₹2,68,800

One lot is 1600 shares at ₹1,34,400. This issue requires a minimum of 2 lots, so the smallest application is ₹2,68,800. 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.

~22%

chance of one lot, per application

Retail subscription: 4.65×
Applicants per share available: 4.7× 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.

₹89.00

listed at, 6.0% against the issue price

Issue price: ₹84.00
Premium said: —
If allotted 1600 shares: ₹8,000

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

EBITDA margin widened at each of the four periods the record carries: 4.43% in FY23 (Rs 8.33 Cr on Rs 188.17 Cr of revenue), 6.62% in FY24 (Rs 12.01 Cr on Rs 181.49 Cr), 8.04% in FY25 (Rs 16.16 Cr on Rs 200.97 Cr) and 8.48% in the nine months to 31 December 2025 (Rs 12.97 Cr on Rs 152.88 Cr). The business description quotes the same four operating-margin figures.
Profit after tax was Rs 3.28 Cr in FY23, Rs 6.37 Cr in FY24 and Rs 8.76 Cr in FY25 — a rise of 94.21% and then 37.52% — against revenue that fell 3.55% in FY24 and rose 10.73% in FY25.
Net worth rose at every period on record, from Rs 22.47 Cr in FY23 to Rs 28.85 Cr in FY24, Rs 37.61 Cr in FY25 and Rs 43.93 Cr at 31 December 2025. In FY25 and at 31 December 2025 it stood above total borrowings (Rs 37.61 Cr against Rs 33.55 Cr, and Rs 43.93 Cr against Rs 39.15 Cr), whereas in FY23 and FY24 it was below them (Rs 22.47 Cr against Rs 25.76 Cr, and Rs 28.85 Cr against Rs 33.39 Cr).

What to weigh against it

Total borrowings rose at every period the record carries: Rs 25.76 Cr in FY23, Rs 33.39 Cr in FY24, Rs 33.55 Cr in FY25 and Rs 39.15 Cr at 31 December 2025. The business description puts the assessed working-capital requirement at Rs 48.59 Cr at December 2025 against Rs 26.56 Cr in FY23.
Profit after tax of Rs 6.32 Cr for the nine months to 31 December 2025 is below three-quarters of the FY25 figure of Rs 8.76 Cr, which is Rs 6.57 Cr. Over the same nine months revenue of Rs 152.88 Cr and EBITDA of Rs 12.97 Cr were both above three-quarters of their FY25 figures, which are Rs 150.73 Cr and Rs 12.12 Cr.
Revenue did not rise in every year on record: it fell 3.55% from Rs 188.17 Cr in FY23 to Rs 181.49 Cr in FY24, before rising 10.73% to Rs 200.97 Cr in FY25.
The record carries no cash flow from operations, no total assets and no expenses figure for any of the four periods, and no valuation, allocation, anchor, peer or offer-object data at all.

Easy to miss in the prospectus

The latest financial period on record ends 31 December 2025, while the last traded price shown, Rs 127.9, is dated 23 October 2026; the record holds no figures for the March 2026 quarter or the FY26 full year.
The revenue mix given — freight 77.61% of revenue, within which road was 46.41%, air 46.94% and rail 6.65%, and warehouse operations 3.53% — is for the nine months to 31 December 2025 only. Those two shares add to 81.14%, and the record neither describes the remaining 18.86% nor gives a comparable split for FY23, FY24 or FY25.
Subscription is recorded for day three only — QIB 1.55 times, NII 10.11 times, retail 4.65 times, total 4.95 times — with days one and two of the 30 June to 2 July window absent; the record also notes a cross-check source whose day-wise figures disagree with the registrar's.

Straight from the filing

Read it yourself

Every figure on this page comes out of these. Go and check them.

Sampark India Logistics — Prospectus dated 2026-07-022 Jul 2026Filed after pricing, with every placeholder filled in.Opens on silpl.rathigroup.info

Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.

The paperwork

Who is running the issue

Lead managers: Finshore Management Services Limited
RegistrarAllotment status is checked on the registrar's own site: Maashitla Securities Private Limited

How these figures were checked

Reconciled to Sampark India Logistics's own prospectus and to exchange disclosures, then cross-checked against 6 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.

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

At a glance

Board: SME platform
Opens: 30 Jun 2026
Closes: 2 Jul 2026
Allotment: 3 Jul 2026
Lists: 7 Jul 2026
Revenue (FY25): ₹201 Cr
Profit (FY25): ₹8.76 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.