Om Freight Forwarders Ltd Sets Sail for IPO with Rs 25 Crore Fresh Issue

Om Freight Forwarders Ltd, a logistics service provider, seeks to raise funds through an IPO, with fresh issues worth Rs 25 crore and promoters selling up to 72.50 lakh shares. These funds will support vehicle and equipment acquisition, as well as general corporate needs. Operations extend across India and globally.

Om Freight Forwarders Ltd, a third-party logistics services provider, has taken a significant step towards a public offering by filing draft papers with the capital market regulator Sebi. The move aims to raise funds through an initial public offering (IPO), signifying a fresh issuance of shares valued at Rs 25 crore, alongside an offer for sale of up to 72.50 lakh equity shares by the promoters, as detailed in the Draft Red Herring Prospectus (DRHP) submitted on Monday.

The capital raised from the fresh issuance is earmarked for crucial capital expenditure requirements. Specifically, Rs 16.64 crore will be allocated for acquiring commercial vehicles and heavy equipment, while the remaining balance will address general corporate purposes. Om Freight Forwarders, based in Mumbai, provides comprehensive logistics solutions across multiple transport modes, including sea, air, road, and rail.

Operating with a pan-India network that includes 28 branches, the company also boasts an extensive international reach through strategic tie-ups, covering over 800 destinations. For the period ending September 2024, Om Freight Forwarders reported a revenue from operations of Rs 250.29 crore and a profit after tax of Rs 13.22 crore. The IPO, managed by Smart Horizon Capital Advisors, plans to list the equity shares on BSE and NSE.

(With inputs from agencies.)