Ritco Logistics IPO – Review, Allotment, Subscription, GMP Price, Date & more
Last Updated Date: Aug 23, 2022Ritco Logistics IPO comprises of up to 66,00,000 Equity shares of Rs.10 each. Ritco Logistics Limited is engaged in the business of providing surface logistics services viz. goods transport service along with warehousing facilities at various locations in India.
Let’s have a detailed review of the company and analytics of the Ritco Logistics IPO release date, IPO offer price, subscription, Ritco Logistics IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
- Issue Price of this IPO is Rs 71 – Rs 73 . Check the Live Share Price here Ritco Logistics Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Ritco Logistics IPO Review & Ratings
| Ritco Logistics IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.3/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.1/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.2/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.3/10 |
| Star Ratings | ★★★☆☆ |
Summary of Ritco Logistics IPO
Ritco Logistics Limited is engaged in the business of providing surface logistics services viz. goods transport service along with warehousing facilities at various locations in India. The Issue comprises of a Public Issue of 66,00,000 Equity shares of face value of Rs.10.00 each fully paid (the “Equity Shares”) for cash at a price Rs 73.
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:
- As per restated financial statements for the fiscal year ended on March 31, 2018, March 31, 2017 and March 31, 2016, the total revenue of the Company stood at Rs. 343.91 crores, Rs. 328.96 crores and Rs. 314.16 crores respectively.
- PAT for fiscal year ended on March 31, 2018, March 31, 2017 and March 31, 2016 stood at Rs. 10.27 crores, Rs. 3.80 crores and Rs. 1.44 crores respectively.
- The Net worth of our Company based on Restated Financial Statements as on March 31, 2018, March 31, 2017 and March 31, 2016 was Rs. 4794.85 lakhs, Rs. 3766.96 lakhs and Rs. 3386.15 lakhs respectively.
The Promoters of this company are Mr. Man Mohan Pal Singh Chadha & Mr. Sanjeev Kumar Elwadhi . The lead manager to the issue is HEM SECURITIES LIMITED and the Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.
Subscribe to Ritco Logistics IPO
Ritco Logistics IPO Date
The opening and the closing date of IPO of Ritco Logistics is Jan 28, 2019 to Jan 30, 2019.
Ritco Logistics IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| Day 1: Jan 28, 2019 | 0.63x | 0.06x | 0.34x |
| Day 2: Jan 29, 2019 | 1.06x | 0.23x | 0.64x |
| Day 3: Jan 30, 2019 | 1.82x | 0.96x | 1.39x |
| Shares Offered or Net Issue | 3,132,800 | 3,132,800 | 6,265,600 |
The shares subscribed by the public will be updated here.
Ritco Logistics IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | 4-Feb-19 |
| Refunds Initiation | 5-Feb-19 |
| Credit of Shares to Demat Account | 6-Feb-19 |
| Share Listing Date | 7-Feb-19 |
Ritco Logistics IPO Price Band
The face value of each share is Rs 10, at a price which is Rs 71 – Rs 73.
Ritco Logistics Equity Share Offering or Issue Size
66,00,000 Equity Shares of Rs 10/- each with the Issue Price of Rs 73 including the premium of Rs 63, aggregated to Rs. 48.18 Crores.
Ritco Logistics Limited – Company Overview
Ritco Logistics Private Limited was originally incorporated as “Ritco Logistics Private Limited” on August 23, 2001 vide Registration Certificate No. 55-112167 under the provisions of the Companies Act, 1956 with the Registrar of Companies, NCT of Delhi & Haryana. Company was changed to a public limited company and the name of the Company was changed to Ritco Logistics Limited by a special resolution passed on May 02, 2018.
Ritco Logistics Limited is engaged in the business of providing surface logistics services viz. goods transport service along with warehousing facilities at various locations in India.The range of services includes Contract Logistics, Less than Truck Load (LTL) service and Fleet Rental Services.
Under Contract Logistics, they offer bulk transportation service to large sized Companies as well as Full Truck Load (FTL) service to retailers and traders, wherein they provide point to point services to the customers in which the goods are loaded from the premises of the customer and are delivered to the delivery point as specified by them (i.e. factory/warehouse).
Company has its Corporate Office located in Gurugram, Haryana and the consignments are booked by them through their Branch Offices located in Maharashtra, Gujarat, Assam, Chhattisgarh, Goa, Haryana, Karnataka, Madhya Pradesh, Tamil Nadu, Uttar Pradesh, Uttrakhand, West Bengal, Telangana, Delhi and Rajasthan. It has a fleet of 256 vehicles.
Competitive Strengths of Ritco Logistics Limited:
- Large Fleet of Transportation Vehicles and arrangements for outsourced trucks
- Wide transportation Network in India
- Diverse customer base.
- Experienced Senior Management / Management expertise.
- Process and Technology.
- Incentive Schemes, Training & Road Safety Awareness programmes for Drivers.
- Certifications, Awards and Accreditations.
Business strategies of Ritco Logistics Limited:
- Enhance operational controls to ensure timely delivery
- Increase our goods transportation network.
- Focus on higher margin transportation Services.
- Focus on consistently meeting quality standards.
- Continue to develop cordial relationship with our Suppliers, Customer and employees.
Ritco Logistics Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 15,405.68 | 9,707.73 | 8,991.00 | 7,218.15 | 8,531.83 |
| Total Revenue | 34,391.49 | 32,896.06 | 31,416.47 | 31,361.53 | 25,473.56 |
| Total Expense | 32,881.28 | 32,406.9 | 31,201.5 | 30,915.25 | 25,358.37 |
| Profit After Tax | 1027.89 | 380.81 | 144.70 | 306.4 | 157.36 |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Basic /Diluted | 5.28 | 1.96 | 0.74 | 1.57 | 1.55 |
From the above statements, one could find that the Ritco Logistics Limited may perform well.
Ritco Logistics IPO – Promoters
The Promoter of this company are:
- Mr. Man Mohan Pal Singh Chadha
- Mr. Sanjeev Kumar Elwadhi
List of Related Parties (Key Managerial Personnel)
- Shyam Sunder Elwadhi
- Hardeep Kaur Chadha
- Tanya
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Ritco Logistics IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 66,00,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. 73 per share aggregating to Rs. 4818 lakhs.
FRESH ISSUE-Up to 50,00,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. 73 per share aggregating to Rs. 3650 lakhs. OFFER TO SALE-Up to 16,00,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. 73 per share aggregating to Rs. 1168 lakhs. |
| Of which: | |
| Reserved for Market Makers | Up to [●] Equity Shares of Rs. 10/- each |
| Net Issue to the Public | Up to [●] Equity Shares of Rs. 10/- each |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of [●]/ – per Equity Share aggregating Rs. [●] lakhs will be available for allocation to Investors applying with application value of above Rs. 2.00 Lakhs |
| Non-Retail Investors Portion | Not less than [●] Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of [●]/ – per Equity Share aggregating Rs. [●] lakhs will be available for allocation to Investors applying with application value of upto Rs. 2.00 Lakhs |
| Equity Shares outstanding prior to the Issue | 1,94,76,618 Equity Shares of face value of Rs.10 each |
| Equity Shares outstanding after the Issue | [●] Equity Shares of face value of Rs.10 each |
Ritco Logistics IPO Issue Object
These are the IPO Issue Objects of the company
- To Meet Working Capital Requirement.
- Prepayment or repayment of a portion of Bank Borrowings.
- General Corporate Purposes.
- Public Issue Expenses.
List of Upcoming IPOs in 2018
| Pommys Garments IPO | Indo US Biotech IPO | Medibios Laboratories IPO | Shree Vasu Logistics IPO |
| R R Industrial IPO | Sorich Foils IPO | 20 Microns IPO |
Ritco Logistics IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Large Fleet of Transportation Vehicles and arrangements for outsourced trucks
- Wide transportation Network in India
- Diverse customer base.
- Experienced Senior Management / Management expertise.
- Process and Technology.
- Incentive Schemes, Training & Road Safety Awareness programmes for Drivers.
- Certifications, Awards and Accreditations.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV in Rs. | |
| 31-Mar-16 | 0.74 | 4.27 | 17.39 |
| 31-Mar-17 | 1.96 | 10.11 | 19.34 |
| 31-Mar-18 | 5.28 | 21.44 | 24.62 |
- Competitive Peers:
| Company | EPS | P/E ratio | RoNW | Face value per share |
| Ritco Logistics Limited | 5.28 | [●] | 21.44 | 10 |
| Mahindra Logistics Limited | 6.70 | 85.6 | 15.20 | 10 |
| VRL Logistics Limited | 7.72 | 40.46 | 13.36 | 10 |
| Transport Corporation of India Limited |
10.54 | 26.73 | 10.81 | 2 |
| GATI Limited | 3.35 | 22.80 | 6.67 | 2 |
List of Latest IPOs of 2018
| Fine Organic IPO | IndoStar Capital IPO | Capricorn Food Products IPO | Flemingo Travel Retail IPO |
| Nazara Technologies IPO | Genius Consultants IPO | Rail Vikas Nigam IPO | Verroc Engineering IPO |
Ritco Logistics IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904,A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 4906 0000 Fax No.: +91- 022- 2262 5991 Website: www.hemsecurities.com Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Contact Person : Mr. Anil Bhargava SEBI Regn. No. INM000010981 |
Ritco Logistics IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, LBS Marg,Vikhroli (West), Mumbai- 400083, Maharashtra, India Tel No.: +91-22-49186200 Fax No.: +91-22-49186195 Email: ritco.ipo@linkintime.co.in Investor Grievance Email: ritco.ipo@linkintime.co.in Website: www.linkintime.co.in Contact Person: Ms. Shanti Gopalkrishnan SEBI Regn. No.: INR000004058 |
Other Details:
- Statutory Auditor -M/S. J.L. PATHAK
- Peer Review Auditor –M/S. MITTAL & ASSOCIATES
- Bankers to the Company –DBS BANK LIMITED
Ritco Logistics IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
The ratings would be updated once the financials and the other details of the IPO are released.
Ritco Logistics IPO Grey Market Premium
The Ritco Logistics IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.
Subscribe to Ritco Logistics IPO
Ritco Logistics IPO News
News 1 – IPO ISSUE OPENS SOON (Download Prospectus)
Market Guide
Featured Topics