Ritco Logistics IPO – Review, Allotment, Subscription, GMP Price, Date & more

Ritco 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.


Ritco Logistics IPO Review & Ratings

Ritco Logistics IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Ritco Logistics IPO

Ritco Logistics IPORitco 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 which is not disclosed yet. 

FRESH ISSUE – Up to 50,00,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. [●] per share aggregating to Rs. [●] lakhs. 

OFFER TO SALE – Up to 16,00,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. [●] per share aggregating to Rs. [●] lakhs

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.


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Ritco Logistics IPO Date

The opening and the closing date of IPO of Ritco Logistics is not known yet.


Ritco Logistics IPO Subscription

 Subscription
Day 1X
Day 2 X
Day 3X
Day 4 X
Day 5 X

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Ritco Logistics IPO Allotment Status

The Issue is being made through the Fixed Price Process wherein up to 66,00,000 Equity Shares shall be reserved for Market Maker upto[●]/-and [●]/-for the net public issue. Equity shares will be allocated on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from Retail Individual Applicants at the Issue Price. The balance of the Net Issue will be available for allocation on proportionate basis to Non Retail Applicants.


Ritco Logistics IPO Price Band

The face value of each share is Rs 10, at a price which is not yet disclosed.


Ritco Logistics Equity Share Offering

66,00,000 Equity Shares of Rs 10/- each with the Issue Price of Rs [.] including the premium of Rs.[.], so it will be aggregated to Rs (6600000*[●]) lakhs.


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-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets15,405.689,707.738,991.007,218.158,531.83
Total Revenue34,391.4932,896.0631,416.4731,361.5325,473.56
Total Expense32,881.2832,406.931,201.530,915.2525,358.37
Profit After Tax1027.89380.81144.70306.4157.36

Earnings per Equity Share (in Lakhs)

31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Basic /Diluted5.281.960.741.571.55

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:

  1. Mr. Man Mohan Pal Singh Chadha
  2. 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. [●] per share aggregating to Rs. [●] lakhs.

FRESH ISSUE-Up to 50,00,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. [●] per share aggregating to Rs. [●]lakhs

OFFER TO SALE-Up to 16,00,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. [●] per share aggregating to Rs. [●]lakhs

 Of which:
 Reserved for Market Makers Up to [●] Equity Shares of Rs. 10/- each for cash at a price of Rs. [●] per share aggregating to Rs. [●]lakhs
 Net Issue to the Public Up to [●] Equity Shares of Rs. 10/- each for cash at a price of Rs. [●] per share aggregating to Rs. [●]lakhs
 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 PortionNot 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 Issue1,94,76,618 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.

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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 EPSRONW (%)NAV in Rs.
31-Mar-160.744.2717.39
31-Mar-171.9610.1119.34
31-Mar-185.2821.4424.62
  • Competitive Peers:
CompanyEPSP/E ratioRoNWFace value per share
Ritco Logistics Limited5.28[●]21.4410
Mahindra Logistics Limited6.7085.615.2010
VRL Logistics Limited7.7240.4613.3610
Transport Corporation of
India Limited
10.5426.7310.812
GATI Limited3.3522.806.672

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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:
Investor Grievance Email:
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:
Investor Grievance Email:
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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

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.


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Ritco Logistics IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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