Global Ocean Logistics India Limited Makes Modest Debut with 1.54% Premium, Lists at ₹79.20 Against Strong Subscription

Global Ocean Logistics India Limited, incorporated in 2021 as freight forwarding company offering multi-modal logistics solutions including ocean freight forwarding with shipping and coastal transportation, road and rail transport, air freight forwarding, container freight station, custom clearance operating through major Indian ports including NHAVA Sheva, Hazira, Tumb, Pune, Mundra, and Chennai with pan-India coverage across over 23 states and union territories, made a modest debut on BSE SME on December 24, 2025. After closing its IPO bidding between December 17-19, 2025, the company commenced trading with a premium of 1.54% opening at ₹79.20 and touched ₹82.40 (up 5.64%).

Global Ocean Logistics India Limited Listing Details

Global Ocean Logistics launched its IPO at ₹78 per share with minimum investment of 3,200 shares costing ₹2,49,600. The IPO received strong response with subscription of 13.64 times - individual investors at 11.90 times, QIB at 4.77 times, NII at 29.47 times.

First-Day Trading Performance

Listing Price: Global Ocean Logistics opened at ₹79.20 representing modest premium of 1.54% from issue price of ₹78.00, touched high of ₹82.40 (up 5.64%), with VWAP at ₹79.39, reflecting cautious market sentiment with modest listing gains despite strong subscription of 13.64 times.

Growth Drivers and Challenges

Growth Drivers:

Strong Growth Trajectory: Revenue increased 85% and PAT surged 159% between FY24 and FY25, exceptional ROE of 53%, ROCE of 53%, RoNW of 39.19%, minimal debt-to-equity of 0.07.

Operational Capabilities: Longstanding relationships with diverse customers across industries, asset-light business model resulting in higher efficiencies, comprehensive range of services including ocean and air freight forwarding, transport, CFS, and customs clearances.

Global Network: Serves 263 ports globally, operates through major Indian ports with pan-India coverage across 23 states, established presence through network of agency partners in Europe, USA, South Africa, China, Southeast Asia, and Gulf countries.

Challenges:

Profit Quality Concerns: Analyst highlights marked severe setback for FY24 following COVID-related volatility in freight forwarding charges, sudden jump in bottom lines from FY25 onwards helping fancy valuations raising sustainability questions, issue appears aggressively priced.

Limited Operating History: Incorporated only in 2021 providing just 4 years operating history, analyst categorically recommends only well-informed, cash surplus, and risk seekers may invest while others should stay away.

Operational Risks: Operating in highly competitive and fragmented freight forwarding segment, thin PAT margin of 3.58%, EBITDA margin of 4.93%, significant promoter holding at 82% limiting free float, vulnerable to freight rate volatility, global trade disruptions, and shipping industry cycles.

Utilisation of IPO Proceeds

Working Capital: ₹21.27 crore for funding working capital requirements supporting logistics operations, freight payments, and business expansion.

General Corporate Purposes: Remaining proceeds for general corporate purposes supporting operational needs and strategic initiatives.

Financial Performance

Revenue: ₹191.60 crore for FY25, growth of 85% from ₹103.45 crore in FY24. Net Profit: ₹6.82 crore in FY25, growth of 159% from ₹2.63 crore in FY24. Financial Metrics: Exceptional ROE of 53%, minimal debt-to-equity of 0.07, thin PAT margin of 3.58%, post-issue EPS of ₹6.29, P/E of 12.40x, and market capitalisation of ₹114.39 crore.