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Iware Supplychain Services IPO
Price Band
₹
Issue Size
₹27.13 Cr
Lot Size
1,200 shares
Min Investment
₹114,000
GMP
+₹2.0 (2.11%)
Issue Price
₹95.0
Subject to Sauda
₹1800
Paid only if allotted
Iware Supplychain Services IPO AI Summary
- Iware Supplychain Services IPO is listed on NSE SME.
- Subscription window: 28 Apr–30 Apr 2025, listing on 06 May 2025.
- Current GMP is +₹2.0 (2.11%) — unofficial and can change daily.
Iware Supply Chain Services Limited is an integrated logistics provider with a strong growth trajectory. The company has shown significant increases in both revenue and profit over the past few years, supported by a diverse range of services and a commitment to sustainability. Investors should consider the company's performance and market conditions when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Iware Supplychain Services IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 30 Apr 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Iware Supplychain Services IPO Grey Market Premium (GMP) Today
GMP
+₹2.0
GMP %
+2.11%
Est. Listing
₹97.0
Updated: 25 Jul 2026 14:30
About the Company
Incorporated in 2018, iWare Supply Chain Services Limited is pan-India integrated logistics company providing a wide range of services including warehousing (with third-party logistics (3PL) and carrying & forwarding agent operations), transportation, rake handling services, business auxiliary services, and rental income operating across multiple states in India like Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi essentially offering comprehensive supply chain management solutions through their extensive network across the country. The company offers services in multiple states, including Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi, ensuring comprehensive coverage and reliable service delivery. The company offers logistics support and solutions through its extensive network and integrated services across India. As of anuary 2025, iWare's fleet has grown from 15 vehicles in the financial year 2022 to 47 vehicles, comprising 15 units of 22-feet open-body trucks and the remaining 32-feet containers. iWare's extensive network supports FMCG, pharmaceuticals, retail, and e-commerce industries. The company operates over 100 BCN rakes annually, transporting approximately 220,000 metric tons of goods annually. iWare's extensive road fleet includes 500 company-owned trucks and access to an additional 10,000 vehicles through partnerships. The company offers flexible transport solutions, such as Full Truck Load (FTL), Half Truck Load (HTL), and containerized options, catering to diverse business needs. Competitive Strengths: Pan-India Presence – The company has an extensive network across multiple states, ensuring broad geographical coverage and seamless logistics services. Diverse Service Offerings – iWare provides end-to-end logistics solutions, including warehousing, transportation, rack handling, business auxiliary services, and rental income, making it a one-stop solution for supply chain management. Integrated Multimodal Transportation – With both road and rail logistics solutions, including its association with Indian Railways' BCN rake services, iWare ensures cost-efficient and reliable goods transportation. Strong Fleet & Infrastructure – iWare operates a growing fleet of company-owned and partnered vehicles, along with strategically located warehouses, ensuring efficient cargo handling. Technology-Driven Operations – The company leverages digital tools for real-time tracking, route optimization, and inventory management, enhancing operational efficiency. Industry Expertise – iWare is backed by experienced promoters with over 20 years of expertise in the logistics sector, ensuring deep industry knowledge and strong business strategies. Strategic Partnerships – The company collaborates with leading corporations like Adani Wilmar and operates large-scale warehouses to cater to high-demand businesses. Focus on Sustainability – With eco-friendly initiatives like CNG-powered trucks and energy-efficient warehouses, iWare is committed to reducing its carbon footprint and supporting green logistics. Expanding Market Reach – iWare is extending its services to Tier II and Tier III cities, enabling small and medium-sized businesses to access high-quality logistics solutions. Government Policy Alignment – The company’s operations align with India's National Logistics Policy and PM Gati Shakti program, positioning it as a key player in the country's logistics growth.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 56.93 | 46.81 | 39.47 |
| Total Income | 86.11 | 58.77 | 43.72 |
| Profit After Tax | 8.02 | 4.17 | 0.42 |
| NET Worth | 16.19 | 8.17 | 4.00 |
| Reserves and Surplus | 8.33 | 8.16 | 3.99 |
| Total Borrowing | 29.74 | 25.34 | 27.33 |
Key Ratios
EPS
₹10.20
NAV
₹20.59
ROE
58.52%
ROCE
30.34%
RoNW
51.05%
P/B Value
4.61
P/E Ratio
9.31
Market Cap
₹101.80 Cr
PAT Margin
9.34%
Debt/Equity
1.84
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Shreeji Translogistics Ltd | 8.01 | 32.64% | 16.74 | 2.33 | 2.33 |
| Pranik Logistics Limited | 21.19 | 35.56% | 12.73 | 7.54 | 7.54 |
| Iware Supplychain Services Limited This IPO | 20.59 | 49.54% | 9.31 | 10.2 | 10.2 |
Promoters
Krishnakumar Jagdishprasad Tanwar, Rajnish Gautam and Inter India Roadways Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital expenditure requirement for the construction of new industrial shed 14.06 2 Funding working capital requirements of the Company 6.80 3 General Corporate Purposes 3.87 4 Issue Expenses 2.40 Total 27.13
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹43.72 Cr in the year ending 31 Mar 2023, rising to ₹58.77 Cr by 31 Mar 2024, and further increasing to ₹86.11 Cr by 31 Mar 2025. This shows a consistent upward trend in revenue over the periods.
Profit Trend
Profit after tax was ₹0.42 Cr for the year ending 31 Mar 2023, increasing to ₹4.17 Cr by 31 Mar 2024, and reaching ₹8.02 Cr by 31 Mar 2025. This indicates a strong growth in profitability across the reported periods.
Valuation
Iware Supplychain Services Limited is priced at a P/E ratio of 9.31 at the issue price, compared to peers trading at P/E ratios of 12.73 to 16.74.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO compared to its issue price. A positive GMP suggests that the market anticipates a higher listing price, while a negative GMP indicates the opposite. However, GMP is not a guaranteed predictor of actual listing performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid IPOs like this, which can be more volatile and uncertain in the early stages of trading.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on various factors such as market conditions and investor sentiment. While some IPOs experience significant gains on their first day, others may not perform as well. Investors should be prepared for potential volatility.
This evaluation is generated from Iware Supplychain Services's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Iware Supplychain Services IPO GMP today?
Iware Supplychain Services IPO GMP today is +₹2.0 (2.11%). GMP is an unofficial grey-market indicator and can change daily.
When does Iware Supplychain Services IPO open and close?
Iware Supplychain Services IPO opens on 28 April 2025 and closes on 30 April 2025.
When does Iware Supplychain Services IPO list on the stock exchange?
Iware Supplychain Services IPO listed on 06 May 2025 at ₹97.0.
What is the lot size for Iware Supplychain Services IPO?
The lot size for Iware Supplychain Services IPO is 1200 shares, requiring a minimum investment of ₹114,000.
What is the lot size for this IPO?
The lot size for the Iware Supplychain Services IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required for this IPO is ₹114,000.
What is the issue price of the IPO?
The issue price of the Iware Supplychain Services IPO is ₹95.0 per share.
When does the IPO open and close?
The IPO opens on 28 April 2025 and closes on 30 April 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount of the IPO's listing price compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
28 Apr 2025
Close
30 Apr 2025
Allotment
02 May 2025
Listing
06 May 2025
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