The IPO of Jayesh Logistics will start today. Check GMP, price range, subscription and other details

Jayesh Logistics will open its IPO worth Rs 28.63 crore for subscription on Monday, with the issue generating cautious optimism in the MSME segment. The public offer, which closes on October 29, involves a fresh issue of 23.47 lakh shares, consisting entirely of new equity. The shares will be listed on the NSE SME platform on November 3.

The price band has been set at Rs 116 – Rs 122 per share, and investors can bid for a minimum of 2,000 shares (two lots), which requires an investment of Rs 2.44 lakh at the top end. Indcap Advisors is the lead manager, with KFin Technologies as registrar and Giriraj Stock Broking as market maker.

Jayesh Logistics GMP

Market observers said the gray market premium (GMP) is around Rs 4, or roughly 3% above the higher price band, indicating modest listing gains if sentiment holds.

Business profile

Jayesh Logistics offers end-to-end logistics and cross-border freight transportation, with a strong presence along the Indo-Nepal corridor and connectivity to Bhutan and Bangladesh. The portfolio includes domestic transportation, port handling, warehousing and supply chain management for sectors ranging from FMCG and automotive to healthcare and PSUs.

The company uses GPS and SAP tracking for real-time shipment visibility and operates its proprietary SMART-SYS platform that integrates ERP, RFID and AI-based CRM modules to automate fleet management.

Financial snapshot

Jayesh Logistics has shown healthy growth over the past two years. Revenue rose 27% in FY25 to Rs 112 crore, while profit after tax rose 128% to Rs 7.2 crore, compared to Rs 3.16 crore in FY24. The company reported a robust return on equity of 56.8% and an EBITDA margin of 15%, although debt levels remain high with a debt-to-equity ratio of 1.61.

The IPO values ​​the company at a market capitalization of Rs 106 crore.

Use of proceeds

The company plans to use the net proceeds for purchase of sidewall trailers (Rs 8.8 crore), working capital requirements (Rs 11.2 crore) and phase two implementation of its Smart Logistics application (Rs 0.7 crore). The rest goes for general corporate purposes.

Jayesh Logistics’ IPO adds to the busy SME issuance pipeline in October, where investor appetite has turned selective amid a flurry of smallcap offerings. Now that valuations are moderate and GMP is moderate, any listing gains may remain limited.

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