Committed Cargo Care, a provider of cargo management solutions, is set to initiate its initial public offering (IPO) from Friday to next Tuesday, with a target of raising ₹25 crore. The company plans to issue up to 32.44 lakh fresh equity shares at ₹77 each, according to the details released on Thursday.
The firm, which reported revenue of ₹122.4 crore (INR100 crore = approx. USD12 million) and a net profit of ₹5.33 crore for the fiscal year 2023, intends to channel the proceeds from the IPO towards its working capital requirements and other corporate needs.
Fedex Securities is managing the IPO process while Bigshare Services serves as the registrar. The company has reserved 50% of the IPO for retail investors, demonstrating its commitment to broad-based ownership.
Following the allotment scheduled for October 13, the shares are expected to be listed on the NSE SME platform on October 18.
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