How to Check Apana Logistics IPO Allotment Status

Apana Logistics Limited is an integrated logistics company engaged in container handling and transportation services. The company was originally incorporated in 1992 as Surya Top Sale Private Limited and was subsequently renamed Apana Logistics Private Limited in 2007.

Its services include container handling at Container Freight Stations (CFS), Inland Container Depots (ICD) and ports, road transportation, cargo handling at third-party warehouses, and repair, operation and maintenance of trucks and trailers.

The company uses equipment including reach stackers, forklifts and truck-trailers to support its logistics operations. As of March 31, 2026, its owned fleet included 33 truck-trailers, five reach stackers and two cranes.

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Its operations extend across multiple states. In FY26, Karnataka contributed 33.25% of revenue from operations, followed by Maharashtra and West Bengal at 17.36% each, Gujarat at 14.94% and Goa at 12.96%.

Apana Logistics IPO is a ₹34.14 crore fixed-price BSE SME issue, comprising a fresh issue of 56.90 lakh equity shares. The IPO does not include an offer-for-sale component.

The IPO opened for subscription on September 7, 2026 and closed on September 9, 2026. The basis of allotment is scheduled for September 10, 2026, followed by initiation of refunds and credit of shares on September 11. The shares are scheduled to list on BSE SME on September 15, 2026.

The issue price is fixed at ₹60 per share, with a lot size of 2,000 shares. Individual Investors are required to apply for a minimum of two lots or 4,000 shares, resulting in a minimum investment of ₹2,40,000.

Corporate Makers Capital Limited is the lead manager to the issue, while KFin Technologies Limited is the registrar. Prabhat Financial Services Limited is the market maker.

Registrar: KFin Technologies Limited

BSE: BSE IPO Allotment Status Page

Apana Logistics IPO Subscription Status

Apana Logistics IPO was subscribed 1.26 times by 5:38 PM on September 9, 2026, based on the supplied closing-day snapshot. Individual Investors recorded the stronger demand, while the NII portion remained below full subscription.

The Individual Investor category recorded the stronger response, reaching 2.23 times subscription on Day 3. Individual subscription increased from 0.40 times on the opening day to 1.13 times on Day 2 before rising further on the closing day.

The NII category remained below full subscription at 0.28 times in the supplied closing snapshot. NII demand increased from 0.02 times on Day 1 to 0.10 times on Day 2 and 0.28 times on the final day.

Overall subscription increased from 0.21 times on Day 1 to 0.62 times on Day 2, before reaching 1.26 times on Day 3. At the supplied closing snapshot, the net public offer comprised 54 lakh shares, split equally between the NII and Individual Investor categories.

At that cut-off, Individual Investors had subscribed their 27 lakh-share allocation 2.23 times, while NIIs had subscribed their 27 lakh-share portion 0.28 times.

Later post-close figures differ slightly. Moneycontrol reported 1.24 times overall, with Retail at 2.23 times and NII at 0.35 times, while another later tracker showed 1.31 times overall. The table above therefore retains the 1.26-times snapshot supplied for consistency.

Apana Logistics IPO Share Price and Investment Details

Apana Logistics IPO is a fixed-price issue at ₹60 per share, with a lot size of 2,000 shares. Individual Investors are required to apply for a minimum of two lots or 4,000 shares, resulting in a minimum investment of ₹2,40,000.

For other investors, the minimum application starts at three lots or 6,000 shares, corresponding to an investment of ₹3,60,000 at the issue price.

The IPO comprises 56.90 lakh fresh shares aggregating to ₹34.14 crore. Of the total issue, approximately 2.90 lakh shares are reserved for the market maker, leaving 54 lakh shares for the net public offer.

The issue is entirely a fresh issue, with no OFS component, and the shares are proposed to list on BSE SME.

Based on the supplied closing snapshot, Individual Investors subscribed their portion 2.23 times, while the NII category was subscribed 0.28 times. Overall subscription stood at 1.26 times.

The basis of allotment is scheduled for September 10, 2026, followed by refunds and share credit on September 11 and the proposed BSE SME listing on September 15.

Utilisation of IPO Proceeds

Apana Logistics proposes to utilise approximately ₹25 crore from the IPO proceeds towards capital expenditure for purchasing reach stackers. These vehicles form an important part of the company's container-handling operations at CFSs, ICDs and ports.

Reach stackers are used for lifting, moving and stacking intermodal containers and therefore support the company's core container-handling activities. The proposed investment is intended to expand its owned equipment base.

The company proposes to utilise approximately ₹5.04 crore towards general corporate purposes, while around ₹4.10 crore has been identified towards issue expenses.

Since the entire ₹34.14 crore IPO is a fresh issue, there is no OFS component. Consequently, the net proceeds are intended for Apana Logistics' stated capital expenditure and general corporate requirements rather than existing selling shareholders.

Business Overview

Apana Logistics provides integrated logistics support for container handling and transportation, serving operators of CFSs, ICDs and ports. Its activities combine container handling, road transportation, warehouse cargo handling and maintenance of trucks and trailers.

Container handling and road transportation are the company's two principal revenue streams. In FY26, road transportation generated ₹15.10 crore and accounted for 48.94% of operating revenue, while container handling generated ₹13.37 crore and contributed 43.34%.

Repair, operation and maintenance of trucks and trailers contributed approximately ₹1.73 crore or 5.59% of FY26 operating revenue, while cargo handling at third-party warehouses generated ₹0.65 crore, representing 2.13%.

As of March 31, 2026, Apana Logistics owned 33 truck-trailers, five reach stackers and two cranes. The planned use of ₹25 crore from the IPO towards additional reach stackers is intended to expand the equipment available for its container-handling activities.

The company has a multi-state revenue base. Karnataka was its largest market in FY26, contributing 33.25% of operating revenue, followed by Maharashtra and West Bengal at 17.36% each. Gujarat accounted for 14.94% and Goa contributed 12.96%.

Apana Logistics reported total income of ₹31.07 crore in FY26, compared with ₹21.61 crore in FY25 and ₹20.33 crore in FY24. Profit after tax increased to ₹5.86 crore in FY26, from ₹3.11 crore in FY25 and ₹3.00 crore in FY24.

EBITDA increased to approximately ₹11.32 crore in FY26, compared with ₹6.15 crore in FY25, with the EBITDA margin rising to approximately 36.43% from 28.68%. Total borrowings stood at ₹6.30 crore in FY26, compared with ₹8.00 crore in FY25 and ₹9.26 crore in FY24.

Key strengths include the company's diversified logistics service portfolio, owned fleet and container-handling equipment, presence across multiple states and established operations across container handling and road transportation.

Investors should also consider risks associated with dependence on port and container volumes, operational disruptions at ports and depots, equipment utilisation, capital expenditure requirements, maintenance costs and dependence on securing and renewing logistics contracts.