The BLT Logistics IPO is generating significant buzz as it opens for subscription on August 4, 2025. This BSE SME offering aims to raise ₹9.72 Crores through a fresh issue of 12.96 lakh shares. With India’s logistics sector booming due to e-commerce growth and infrastructure investments, BLT Logistics seeks capital to expand its fleet and operations. This comprehensive guide covers every critical aspect – from GMP trends and financial health to risks and allotment procedures – empowering you to make an informed investment decision.
BLT Logistics IPO: Key Details
| Parameter | Details |
|---|---|
| IPO Open Date | August 4, 2025 |
| IPO Close Date | August 6, 2025 |
| Price Band | ₹71 to ₹75 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,600 Shares |
| Min Retail Investment | ₹227,200 (2 lots) |
| Total Issue Size | 12,96,000 shares (₹9.72 Cr) |
| Issue Type | 100% Fresh Issue |
| Listing Exchange | BSE SME |
| Market Maker | Spread X Securities Private Limited |
About BLT Logistics Ltd: Company Overview
Founded: 2011
Core Business: Surface transportation (containerized trucks) and warehousing services.
Operations:
- Transportation: Full Truck Load (FTL), Less Than Truck Load (LTL), project cargo.
- Warehousing: 3 leased facilities (electronics, retail, FMCG clients).
Fleet: 105 owned vehicles (subsidiary: Sabarmati Express India Pvt Ltd).
Employees: 37 (as of March 2024).
Strengths: - Long-term client relationships (diverse sectors).
- Tech-driven logistics solutions (real-time tracking).
- Strategic warehousing locations near industrial hubs.
BLT Logistics IPO GMP Today & Expected Listing Gain
(As of July 30, 2025)
- Current GMP: ₹20–₹22
- Kostak Rate: ₹15 per application
- Expected Listing Price: ₹93–₹97 (24–29% premium)
Analysis: The positive GMP reflects strong grey market demand, driven by the company’s 25% YoY profit growth and niche in containerized transport. However, high debt (Debt/Equity: 1.55) caps aggressive upside.
Note: GMP fluctuates daily. Check our IPO GMP Tracker for real-time updates.
Financial Performance: Year-Wise Data (Restated Standalone)
Revenue, Profit, and Debt Analysis (₹ in Crores)
| Financials | FY 2025 | FY 2024 | Growth |
|---|---|---|---|
| Revenue | 49.43 | 40.73 | 21.36% |
| Profit After Tax | 5.27 | 4.21 | 25.18% |
| EBITDA | 9.56 | 8.48 | 12.74% |
| Total Assets | 26.27 | 21.32 | 23.22% |
| Total Borrowings | 13.65 | 12.02 | 13.56% |
| Net Worth | 8.78 | 4.94 | 77.73% |
Cash Flow & Liquidity:
- Positive operating cash flow (₹4.8 Cr in FY25).
- Capex focus impacted free cash flow (-₹2.1 Cr).
IPO Application & Lot Size Details
- Retail Investors: Min 2 lots (3,200 shares = ₹227,200), Max 2 lots.
- HNI Investors:
- S-HNI: Min 3 lots (4,800 shares = ₹360,000), Max 8 lots.
- B-HNI: Min 9 lots (14,400 shares = ₹1,080,000).
How to Apply: Via ASBA (Net banking/UPI apps like Groww, Zerodha). UPI mandate must be confirmed by 5 PM on August 6, 2025.
IPO Reservation Quota
Category-Wise Allocation
| Investor Category | Shares Reserved | % of Net Issue |
|---|---|---|
| Market Maker | 94,400 | 7.28% |
| QIB | 598,400 | 46.17% |
| NII (HNI) | 180,800 | 13.95% |
| Retail | 422,400 | 32.59% |
| Anchor Investors | 358,400 | 27.65%* |
*Anchor portion is part of QIB quota.
Promoter Holding Structure
- Promoters: Krishan Kumar & Rakesh Kumar.
- Pre-IPO Holding: 99.95%
- Post-IPO Holding: 72.94% (Dilution due to fresh issue).
Lock-in: Promoter shares locked for 3 years post-listing.
Also Read: Flysbs Aviation Ltd. IPO Live GMP Today 2025: Complete Analysis, Financials, Dates, Listing Gain
Objectives of the Issue
Proceeds will be used for:
- Capital Expenditure (₹3.88 Cr): Purchase 15 new trucks.
- Working Capital (₹2.80 Cr): Fuel, driver costs, warehouse ops.
- General Corporate Purposes (Balance).
IPO Timeline: Critical Dates
| Event | Date |
|---|---|
| IPO Opens | August 4, 2025 |
| IPO Closes | August 6, 2025 |
| Allotment Finalized | August 7, 2025 |
| Refunds Initiated | August 8, 2025 |
| Shares Credited | August 8, 2025 |
| Listing Date | August 11, 2025 (BSE SME) |
Key Performance Indicators (KPIs)
Valuation & Efficiency Metrics
| KPI | Pre-IPO | Post-IPO |
|---|---|---|
| EPS (₹) | 15.06 | 10.99 |
| P/E Ratio (x) | 4.98 | 6.83 |
| ROCE (%) | 22.34% | – |
| ROE (%) | -30.88%* | 43.73% |
| Debt/Equity | 1.55 | 1.10 |
| Book Value (₹/sh) | 25.09 | 18.30 |
*Negative ROE due to low net worth pre-issue. Post-issue equity infusion improves metrics.
Risk Factors
Business & Operations:
- Revenue concentration (Top 5 clients = 55% of FY25 revenue).
- Fuel price volatility impacts margins.
Regulatory: - GST compliance risks.
- Tightening emission norms (BS-VI).
Financial: - High debt (₹13.65 Cr; Interest/EBITDA: 1.8x).
- Working capital cycle (Avg. 65 days).
Company & Registrar Contact Details
BLT Logistics Ltd
- Address: Plot No 304, A/2 Kh 14/20/1 F/F, Patel Garden, Kakrola, New Delhi 110078
- Phone: +91 11 3545 4842
- Email: cs@bltlogistics.com
- Website: www.bltlogistics.com
Registrar: Skyline Financial Services Pvt Ltd
- Phone: 022-28511022
- Email: ipo@skylinerta.com
- Website: www.skylinerta.com
IPO Recommendation: Subscribe or Avoid?
Pros:
- Strong sector tailwinds (e-commerce logistics).
- Revenue/PAT growth >20% YoY.
- Attractive valuation (Post-P/E 6.83 vs industry avg. 12x).
Cons: - Small scale limits bargaining power.
- Debt concerns.
Verdict: Subscribe for Listing Gains. Short-term investors can benefit from the GMP premium. Long-term investors should monitor debt reduction progress.
Allotment & Refunds: Step-by-Step Guide
- Check Allotment (Aug 7): Visit Skyline RTA or BSE website.
- Refund Timeline: By Aug 8, 2025 (if not allotted).
- Payment Methods: UPI/ASBA mandate reversal.
- After Allotment:
- Hold if long-term bullish on logistics.
- Sell on Listing Day if targeting 20–25% gains (GMP-driven).
RHP/DRHP Documents
- Draft DRHP: BLT Logistics IPO DRHP
- Final RHP: BLT Logistics IPO RHP
Review financials, risk factors, and object details here.
IPO Review: Balanced View
Strengths ✅:
- Niche in containerized transport.
- Scalable warehousing model.
- Reasonable post-issue P/E.
Weaknesses ⚠️: - Limited geographical presence (North India).
- Subdued EBITDA margins (19.4%).
Also Read: Renol Polychem IPO Live GMP Today 2025: Complete Analysis, Financials, Dates & Should You Invest
BLT Logistics IPO: FAQs
Q1. What’s the minimum investment?
A: ₹227,200 (3,200 shares).
Q2. How to apply via Zerodha?
A: Login → Console → IPO → Select BLT Logistics → Bid via UPI.
Q3. When is the allotment date?
A: August 7, 2025.
Q4. Listing date?
A: August 11, 2025 (BSE SME).
Q5. Anchor investor lock-in?
A: 50% locked for 30 days (till Sep 10), 50% for 90 days (till Nov 9).
Q6. Debt/Equity post-IPO?
A: Improves to 1.10 (from 1.55).
Q7. Key risks?
A: Client concentration, fuel costs, debt.
Q8. Promoter holding post-IPO?
A: 72.94%.
Q9. ROCE and ROE?
A: ROCE 22.34%; Post-ROE 43.73%.
Q10. Is GMP reliable?
A: Indicates sentiment but not guaranteed. Track till listing.
Conclusion
The BLT Logistics IPO offers a moderate-risk opportunity in India’s growing logistics space. Competitive valuations (P/E 6.83) and a 25% PAT growth are positives, but high debt and client concentration warrant caution. Short-term traders can target listing gains (GMP: ₹18–₹22), while long-term investors should await post-listing debt reduction progress. Apply only if aligned with your risk appetite.
