Allotment

The Iware Supplychain IPO is a fixed-price issue aggregating ₹27.13 crore, comprising entirely a fresh issue of 0.29 crore equity shares.
The IPO opened for subscription on April 28, 2025, and closed on April 30, 2025. The basis of allotment was finalized on May 2, 2025, and the company’s shares were listed on the NSE SME platform on May 6, 2025.
The issue was offered at a fixed price of ₹95 per share. The lot size for application was 1,200 shares. Accordingly, the minimum investment required for retail investors was ₹1,14,000, while HNI investors were required to apply for a minimum of two lots (2,400 shares), amounting to ₹2,28,000.
GetFive Advisors Pvt. Ltd. acted as the Book Running Lead Manager, KFin Technologies Ltd. served as the Registrar to the Issue, and SMC Global Securities Ltd. was appointed as the Market Maker.
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| IPO Date | 6 May |
| IPO Listing Date | 6 May |
| IPO Face Value | ₹10 per share |
| IPO Price Range | ₹95.00 |
| IPO Issue Size | 28,56,000 shares |
| IPO Sale Type | Fresh Capital |
| Employee Discount | - |
| IPO Issue Type | Fixed Price IPO |
| IPO Listing | NSE SME Platform |
| Share Holding Pre Issue | 78,60,000 shares |
| IPO Open Date | 28 Apr |
| IPO Close Date | 30 Apr |
| IPO Allotment (Tentative) | 2 May |
| Refunds | 5 May |
| Credit to Demat Account | 5 May |
| IPO Listing Date | 6 May |
| Category | Offer |
|---|---|
| QIB Shares Offered | - |
| NII (HNI) Shares Offered | 13,56,000 (47.48%) Shares |
| Retail Shares Offered | 13,56,000 (47.48%) Shares |
Investors can apply for at least 1,200 shares, with additional applications accepted in multiples of 1,200 shares.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,14,000 |
| Retail (Max) | 1 | 1,200 | ₹1,14,000 |
| S-HNI (Min) | 2 | 2,400 | ₹2,28,00 |
| S-HNI (Max) | - | - | - |
| B-HNI (Min) | - | - | - |
Incorporated in 2018, iWare Supply Chain Services Limited is a pan-India integrated logistics company providing end-to-end supply chain solutions. The company offers a wide range of services, including warehousing (with third-party logistics and carrying & forwarding agent operations), transportation, rake handling, business auxiliary services, and rental income, operating across multiple states such as Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi. Through its extensive network, iWare delivers comprehensive and reliable supply chain management solutions across the country.
The company supports a diverse set of industries, including FMCG, pharmaceuticals, retail, and e-commerce, offering flexible transport options such as Full Truck Load (FTL), Half Truck Load (HTL), and containerized services. As of January 2025, iWare’s fleet expanded from 15 vehicles in FY 2022 to 47 vehicles, comprising 15 units of 22-feet open-body trucks and 32-feet container trucks. The company also operates over 100 BCN rakes annually, transporting approximately 220,000 metric tons of goods per year, and maintains access to 10,000 additional vehicles through strategic partnerships, enhancing its transport flexibility.
Competitive Strengths
Pan-India Presence – Extensive network across multiple states ensures broad geographical coverage and seamless logistics services.
Diverse Service Offerings – Provides end-to-end logistics solutions, including warehousing, transportation, rack handling, business auxiliary services, and rental income, positioning iWare as a one-stop supply chain partner.
Integrated Multimodal Transportation – Combines road and rail logistics, including partnerships with Indian Railways’ BCN rake services, for cost-efficient and reliable transportation.
Strong Fleet & Infrastructure – Growing company-owned and partnered fleet along with strategically located warehouses ensures efficient cargo handling.
Technology-Driven Operations – Uses digital tools for real-time tracking, route optimization, and inventory management, improving operational efficiency.
Industry Expertise – Promoters and management bring over 20 years of logistics experience, offering deep sector knowledge and robust business strategies.
Strategic Partnerships – Collaborates with leading corporations such as Adani Wilmar and operates large-scale warehouses to serve high-demand clients.
Focus on Sustainability – Implements eco-friendly initiatives including CNG-powered trucks and energy-efficient warehouses, reducing the company’s carbon footprint.
Expanding Market Reach – Extending services to Tier II and Tier III cities, enabling smaller businesses to access high-quality logistics solutions.
Government Policy Alignment – Operations align with India’s National Logistics Policy and PM Gati Shakti program, positioning iWare as a key player in the country’s logistics growth.
| Assets | 56.93 | 46.81 | 39.47 |
| Total Income | 86.11 | 58.77 | 43.72 |
| Profit After Tax | 8.02 | 4.17 | 0.42 |
| EBITDA | - | - | - |
| NET Worth | 16.19 | 8.17 | 4 |
| Reserves and Surplus | 8.33 | 8.16 | 3.99 |
| Total Borrowing | 29.74 | 25.34 | 27.3 |
| ROE | 58.52% |
| ROCE | 30.34% |
| Debt/Equity | 1.84 |
| RoNW | 51.05% |
| PAT Margin | 9.34% |
| EBITDA Margin | - |
| Price to Book Value | 4.61 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | 6.8 |
| 3 | To meet out the General Corporate Purposes; | 3.87 |
| 4 | Offer for Sale (OFS) | - |
Iware Supplychain Services Ltd. Address
7 th Floor 707 Iscon Elegance, Nr. Jain Temple
Prahladnagar Cross Road,
S.G. Highway
Ahmedabad, Gujarat, 380051
+91 9512470099
compliance.officer@iware.co.ini
IPO Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
investor.ipo@maashitla.com
https://ipostatus.kfintech.com/