IPO Details
RHP/DRHPIssue Date
27 May - 29 May'25
Investment/lot
₹ 135000
Price Range
132 - 135
Lot Size
1000
IPO Size
₹ 40.50 Cr
IPO Listing Details
Listing On
3 Jun'25
Issue Price
135
Listed Price
₹ 141
Retail Gain/Listing Gain
▲4.44%
Schedule of Blue Water Logistics IPO
Start date
27/05/2025
End date
29/05/2025
Allotment of bids
Refund Initiation
Listing on exchange
03/06/2025
About Blue Water Logistics IPO
The IPO of Blue Water Logistics Ltd comprises a fresh issue of up to 30,00,000 equity shares. There’s no offer for sale in this IPO, which is a 100% book-built issue. The IPO opens on May 27, 2025 and closes on May 29, 2025. The credit of shares to the demat account will take place on TBA. The basis of allotment will take place on TBA and the initiation of refunds will take place on TBA.
Objectives of Blue Water Logistics IPO
- Funding of capital expenditure requirements by purchase of vehicles and its bodybuilding
- Funding working capital requirements of the company
- General corporate purposes
Blue Water Logistics IPO Valuation
Blue Water Logistics IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net issue |
Non-institutional Applicants | Not less than 15% of the net issue |
Retail Individual Investors | Not less than 35% of the net issue |
Industry Outlook
The Indian logistics sector stands as one of the world's largest and plays a crucial role in driving economic growth. Following a 2% contraction in FY21, the market experienced a robust post-COVID recovery in FY22, witnessing a remarkable 14% growth and reaching a value of US$435 billion. As per the projections from EY, a leading global consulting firm, the logistics market in India is poised to expand further, reaching US$591 billion by FY27.
Company Information
Blue Water Logistics Ltd is engaged in the business of providing logistics and supply chain solutions to its customers. Its key services include freight forwarding, custom clearance and transportation handling services. It’s a Multimodal Transport Operator registered under the Multimodal Transportation of Goods Act 1993 to carry on the business of multimodal transportation.
Blue Water Logistics Strengths
Well-established Relationship with Clients
Through regular communication and flexible logistics solutions, Blue Water Logistics Ltd has a client base that provides it with repeated business for their different logistics needs. The revenue generated from such repeated customers as a percentage of total revenue from operations for the period ended on September 30, 2024 and for the financial years ended on March 31, 2024, March 31, 2023 and March 31, 2022, respectively were 91.68%, 93.27%, 91.66%, and 87.63% of the total revenue from operations.
This relationship with clients has been important for the company to sustain competition in the industry. By regularly meeting with its clients, it gains a deep understanding of their requirements and provides tailored solutions, whether through multimodal transport or other efficient methods.
Wide Customers Portfolio Across Different Industry Verticals
As of September 30, 2024, the company has successfully served a diverse range of customers spanning across various industries, including chemicals, confectionery, crockery, pharma, paper, automobile, textile, electronics, fitness equipment and agricultural products. Each of these sectors presents unique challenges, and its ability to cater to such varied industries demonstrates its operational efficiency and versatility in addressing their specific logistics needs.
Wide Range of Logistics Services
As a multimodal transport operator, the company is equipped to offer a comprehensive range of logistics services, customised to meet the varied and evolving needs of its clients. Its service offerings encompass ocean freight forwarding, customs clearance, transportation, and other value-added services such as fumigation services, container handling services, all designed to optimise service levels, reduce operational costs, and enhance the quality of its clients' supply chains.
With a robust logistics and transportation network, coupled with a diversified service portfolio, the company is able to provide end-to-end solutions that ensure the seamless movement of goods across borders and regions.
Domestic and Global Network
Since the company operates in a globalised economy, it is essential for businesses to expand their reach and customer base across countries and sometimes across borders to compete in the market. Thus, to transport their products to these different markets whether within countries or across borders, they need to hire logistics services to assist them.
Blue Water Logistics Ltd operates through different agents for providing its services in overseas locations. It takes advantage of these opportunities as it provides the services to its customer base which are diversified across India and around the globe and it also provides cross country logistic services.
Risks of Blue Water Logistics IPO
- No Custom House Agent License
The company currently does not possess a Custom House Agent (CHA) license under its name, which is necessary for the clearance of cargo at customs houses for both imports and exports. Instead, it carries its operations through different custom house agents to undertake the custom clearance services under their license as necessary for clearance of cargo at entry or departure of a conveyance or the import or export of goods at any customs house.
This allows it to navigate the complexities of customs regulations without holding a CHA license ourselves. Any delays in the service or refusals or disruptions of services by such Custom House Agency may adversely impact the timely delivery of its goods and it may have to compensate its customers for the loss if any.
- Dependence on Ocean Freight Services
A significant portion of the company’s revenue is derived from its ocean freight services, which constitutes a substantial part of its operations. Its revenue from ocean freight services contributed 83.76%, 76.26%, 84.32% and 80.97% of its revenue from operations for the period ended on September 30, 2024 and for the financial years ended on March 31, 2024, 2023 and 2022, respectively. As a result, any disruption in the uninterrupted operations of its ocean freight services could have a material adverse effect on its business, financial condition, results of operations, and future prospects.
- Dependence on Certain Key Customers
The company depends on a limited number of customers, which exposes it to a high risk of customer concentration. Fluctuations in the performance of the industries in which certain of its customers operate may result in a loss of customers, a decrease in the volume of work it undertakes or the price at which it offers its services.
All Financial Information about Blue Water Logistics
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Company Name | EPS in ₹ | Return on Net Worth (in %) | NAV Per Share (in ₹) |
|---|---|---|---|
Blue Water Logistics Ltd | 13.34 | 62.66 | 11.85 |
Shreeji Translogistics Ltd | 2.33 | 29.09 | 8.01 |
Shree Vasu Logistics Ltd | 2.72 | 9.77 | 27.87 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Maashitla Securities Private Ltd
- Book Running Lead Manager: Smart Horizon Capital Advisors Private Ltd
Business Model
Blue Water Logistics Ltd started the business of freight forwarding and logistics in the year 2010. In the course of its business operations, it arranges various goods transportation services, including arranging commercial vehicles, air freight space, rail transport, and, when necessary, warehouse/ custom freight station facilities for the storage and handling of goods.
Company’s Growth Trajectory
The EBITDA margin of Blue Water Logistics Ltd grew from 2.84% in FY 22 to 7.57% in FY 24. Its profit after tax margin grew from 1.54% in FY 22 to 4.28% in FY 24. The consistent growth of the company can largely be attributed to the expertise and the experience of its promoter directors. With their understanding of the logistics industry and strong business ability, they have successfully led the company to expand both its market presence and revenue streams.
Market Position
Blue Water Logistics Ltd have provided its services in different regions of India including Telangana, Gujarat, Maharashtra, Rajasthan, Andhra Pradesh, Tamil Nadu, Delhi, Punjab, Karnataka, Uttar Pradesh, Madhya Pradesh, Odisha also including services in foreign countries like Africa, Singapore and UAE. It is also associated with different international logistics network platforms like JCtrans and Global Logistics Alliance to facilitate international logistics.
Blue Water Logistics IPO Profit and Loss
| Parameter | FY 25 | FY 24 | FY 23 | FY 22 |
|---|---|---|---|---|
Total Income (in ₹ crores) | 196.2859 | 138.7433 | 98.0696 | 158.5007 |
Profit Before Tax (in ₹ crores) | 14.2950 | 7.9384 | 2.0587 | 3.2576 |
Profit After Tax (in ₹ crores) | 10.6708 | 5.9405 | 1.5406 | 2.4377 |
EPS in ₹ | 13.34 | 7.43 | 3.23 | 3.05 |
Blue Water Logistics IPO Balance Sheet
| Parameter | FY 25 | FY 24 | FY 23 | FY 22 |
|---|---|---|---|---|
Profit Before Tax (in ₹ crores) | 14.2950 | 7.9384 | 2.0587 | 3.2576 |
Net Cash Generated from / (used in) Operating Activities (in ₹ crores) | 4.2327 | 4.2328 | -14.1460 | -8.4532 |
Net Cash Generated from / (used in) Investing Activities (in ₹crores) | -1.7583 | -1.7583 | -2.9163 | -0.2620 |
Net Cash Generated from / (used in) Financing Activities (in ₹crores) | 16.6308 | -3.2585 | 19.4617 | 9.3453 |
Cash and Cash Equivalents at the End (in ₹ crores) | 1.5236 | 1.6131 | 2.3972 | 0.7891 |
How to Check Allotment Status of Blue Water Logistics IPO?
1. Visit the Registrar’s Website
- Go to the official website of Maashitla Securities Pvt Ltd
- Choose ‘Public’ Issues from ‘Allotment Status’
- Select Company Name and enter either your PAN No, Application No or Demat Account No
- Click on ‘Submit’ to know the status
2. Check on the NSE Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Blue Water Logistics Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for Blue Water Logistics Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Blue Water Logistics IPO FAQs
When is Blue Water Logistics IPO listing date?
Blue Water Logistics IPO will list on 2025-06-03.
What is the issue size of Blue Water Logistics IPO?
40.50 is the issue size of Blue Water Logistics IPO.
What is the minimum lot size required for Blue Water Logistics IPO?
The minimum lot size is 1000 shares and the investment required is ₹135000.
What is the price band of the Blue Water Logistics IPO?
The price band of Blue Water Logistics IPO is ₹132 to ₹135.
Where can I read more about Blue Water Logistics business?
You can read more about Blue Water Logistics and its IPO from the company’s red herring prospectus (RHP) here.
What is the Blue Water Logistics Ltd IPO?
The IPO of Blue Water Logistics Ltd comprises a fresh issue of up to 30,00,000 equity shares.
When will the IPO of Blue Water Logistics Ltd go live?
The IPO will open on 27 May 2025 and will close on 29 May 2025.
From where can I read more about the IPO of Blue Water Logistics Ltd?
You can read more about the IPO of Blue Water Logistics Ltd from the company’s draft red herring prospectus here.
