Dhillon Freight Carrier clears BSE hurdle for SME IPO
IPO funds will support fleet expansion, working capital needs, and stronger logistics operations across India.
Dhillon Freight Carrier Limited (DFCL), a leading logistics solutions provider in India, has received in-principle approval from BSE Limited for the listing of its proposed Initial Public Offering (IPO) on the SME platform of BSE.
According to the Draft Red Herring Prospectus (DRHP), DFCL plans a fixed price issue of 14,00,000 equity shares with a face value of ₹10 each at a price of ₹72 per equity share. Out of this, 70,400 equity shares will be reserved for the Market Maker, while the net offer of 13,29,600 equity shares will make up 33.92% of the company’s post-issue paid-up equity share capital.
The company has stated that the IPO proceeds will be used for fleet expansion, strengthening business operations, meeting working capital needs, and other corporate purposes as outlined in the DRHP.
Mr. Karan Singh Dhillon, Promoter of DFCL, said the BSE approval marks a major milestone in the company’s growth journey. He added that the IPO would help the company build a stronger logistics network, improve efficiency, and scale services for a wider customer base across India.
Finshore Management Services Limited is acting as the Lead Manager to the IPO, while KFin Technologies Limited is serving as the Registrar to the Issue.
