Blue Water Logistics IPO is a book-built issue worth ₹40.50 crore. The IPO consists entirely of a fresh issue of 30.00 lakh equity shares. The IPO opens for subscription on May 27, 2025, and closes on May 29, 2025. The allotment is expected to be finalised on May 30, 2025, with tentative listing on NSE SME scheduled for June 3, 2025.
The IPO is priced in a band of ₹132 – ₹135 per share. Retail investors must apply for a minimum of 1 lot comprising 1,000 shares, requiring an investment of ₹1,35,000 at the cutoff price. HNI investors must apply for at least 2 lots (2000 shares), amounting to ₹2,70,000.
Smart Horizon Capital Advisors Private Limited is the book-running lead manager to the issue. Maashitla Securities Private Limited is the registrar. Shreni Shares Limited is the market maker for the IPO.
For detailed financials, company background, and risk factors, investors are advised to refer to the Blue Water Logistics IPO RHP.
Industry Outlook
- India’s logistics sector is key to achieving its USD 5.5 trillion GDP target by 2027. As one of the world’s largest logistics markets, it's rapidly evolving to boost efficiency, cut costs, and enhance connectivity.
- Major government initiatives, National Logistics Policy (NLP), PM GatiShakti, and the National Infrastructure Pipeline (NIP), are pushing reforms aimed at reducing logistics costs from 13–14% to global standards of 8–9%, with a strong focus on multimodal transport integration.
- Digitisation is accelerating through FASTag, e-documentation, and logistics park development, improving transparency and reducing turnaround times.
- Challenges persist fragmented infrastructure, regulatory hurdles, and skilled labour shortages. However, rising outsourcing and demand for integrated supply chain solutions position players like Blue Water Logistics to benefit from ongoing sector upgrades.
Blue Water Logistics IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- Allocate funds towards the purchase and body building of 20 commercial vehicles, aimed at strengthening the company’s owned fleet and reducing dependency on third-party transport providers.
- Enhance liquidity to meet growing operational demands, ensuring smoother execution of logistics services and improved responsiveness to customer needs.
- Address strategic and operational needs, including administrative expenses, brand development, and potential business initiatives aligned with long-term growth.
- Leverage the IPO to improve brand visibility, establish a public market for the company’s equity shares, and support future expansion and capital-raising opportunities.
About Blue Water Logistics Limited
Blue Water Logistics Limited was originally established as a partnership firm on 16 April 2010 under the name Blue Water Logistics. It was converted into a private limited company on 22 August 2022 as Blue Water Logistics Private Limited and subsequently reconstituted as a public limited company on 25 July 2024.
The company is engaged in providing integrated logistics and supply chain solutions, including freight forwarding, customs clearance, and transportation services. It is registered as a Multimodal Transport Operator under the Multimodal Transportation of Goods Act, 1993, enabling it to offer seamless cargo movement across air, sea, and land.
Headquartered in Hyderabad, Telangana, Blue Water Logistics operates through a network of five branch offices located in Chennai, Delhi, Jaipur, Visakhapatnam, and Thane. The company leverages a robust network of partners and vendors to serve clients across India and internationally.
Its operations are structured around key service verticals such as ocean freight, surface freight, air freight, rail freight, and customs handling. With a focus on operational efficiency, customer-centric service, and compliance, Blue Water Logistics aims to strengthen its position in the Indian logistics sector and expand its footprint in global trade corridors.
How To Check the Allotment Status of the Blue Water Logistics IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for Blue Water Logistics IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Blue Water Logistics IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Blue Water Logistics IPO
Registered office: H. No. 8-2-270/B/1/2, Block-3, 4th Floor, Uptown Banjara, Road No. 3, Banjara Hills, Hyderabad – 500034, Telangana, India.
Phone: +91 83411 01774
E-mail: compliance@bwl.co.in
Blue Water Logistics IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares Offered |
Not more than 50.00% of the Net Issue |
|
Retail Shares Offered |
Not less than 35.00% of the Net Issue |
|
NII (HNI) Shares Offered |
Not more than 15.00% of the Net Issue |
Blue Water Logistics IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1000 |
₹1,35,000 |
|
Retail (Max) |
1 |
1000 |
₹1,35,000 |
|
HNI (Min) |
2 |
2000 |
₹2,70,000 |
Blue Water Logistics IPO Promoter Holding
The promoters of the company are Mr. Laxmi Narayan Mishra, Mr. Lalit Panda, Ms. Madhusmita Mohanty and Ms. Supriya Mishra.
|
Share Holding Pre-Issue |
95.62% |
|
Share Holding Post Issue |
69.55% |
Key Performance Indicators for Blue Water Logistics IPO
As of March 31, 2024, the market capitalisation of Blue Water Logistics is ₹148.50 crore. Here are the KPIs of Blue Water Logistics:
|
KPI |
Value |
|
EBITDA Margin (%) |
9.56 |
|
PAT Margin (%) |
5.44 |
|
Debt to Equity Ratio (times) |
1.82 |
|
Current Ratio (times) |
1.62 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
EPS (₹) |
13.34 |
9.70 |
|
P/E (x) |
10.12 |
13.92 |
Note: The Pre IPO EPS is calculated based on pre-issue shareholding as of the date of RHP and the latest FY earnings as of March 31, 2025, that is available in RHP.
The post-issue EPS is calculated based on the post-issue shareholding and annualised FY earnings of March 31, 2025, that are available in RHP.
Blue Water Logistics IPO Prospectus
Blue Water Logistics IPO Registrar and Lead Managers
Blue Water Logistics IPO Lead Managers
- Smart Horizon Capital Advisors Private Limited
Registrar for Blue Water Logistics IPO
Maashitla Securities Private Limited
- Contact Number: +91-11-45121795-96
- Email Address: ipo@maashitla.com
Blue Water Logistics IPO Registrar
Financial Performance of Blue Water Logistics Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue from Operations (₹ in Lakh) | 19,618.04 | 13,867.37 | 9,798.24 |
| EBITDA (₹ in Lakh) | 1,874.58 | 1,049.96 | 382.95 |
| EBITDA Margin (%) | 9.56 | 7.57 | 3.91 |
| PAT Margin (%) | 5.44 | 4.28 | 1.57 |
| Return on Equity (%) | 72.02 | 91.24 | 35.02 |
| Debt to Equity Ratio (times) | 1.82 | 1.82 | 5.31 |
| Current Ratio (times) | 1.62 | 1.45 | 1.38 |
Know before investing
Strengths
8Registered under the Multimodal Transportation of Goods Act, enabling seamless cargo movement across air, sea, and land.
Branch offices in key logistics hubs including Chennai, Delhi, Jaipur, Visakhapatnam, and Thane.
Efficient use of third-party networks and vendors to scale operations with minimal capital expenditure.
Revenue from operations grew from ₹13,874.33 lakhs in FY 2024 to ₹19,628.59 lakhs in FY 2025.
Services span ocean, surface, rail, and air freight, along with customs clearance.
Led by industry professionals with over a decade of experience in logistics and supply chain management.
Planned acquisition of 20 commercial vehicles to reduce third-party dependency and improve margins.
Benefiting from government initiatives like the National Logistics Policy and PM GatiShakti.
Risks
8A significant portion of revenue is derived from a few key clients, posing a risk if any major customer is lost.
Over 80% of revenue comes from ocean freight services, making the company vulnerable to disruptions in this segment.
Heavy dependence on external vendors and transport partners may affect service quality and delivery timelines.
A large share of revenue is generated from Telangana, Gujarat, and Maharashtra, exposing the company to regional risks.
The company has substantial unsecured borrowings that may be recalled on demand, impacting liquidity.
Delays or lapses in statutory filings and approvals could lead to penalties or operational disruptions.
Operations are susceptible to adverse weather conditions and infrastructure bottlenecks, especially during monsoons.
Recent conversion to a public limited company may pose governance and compliance challenges in the near term.
Blue Water Logistics Limited Peer Details Comparison
| Company Name | CMP (₹) | Face Value (₹) | Basic EPS (₹) | NAV per Share (₹) |
|---|---|---|---|---|
| Blue Water Logistics Limited | [●] | 10.00 | 13.34 | 25.19 |
| Shreeji Translogistics Limited | 13.29 | 2.00 | 2.33 | 8.01 |
| hree Vasu Logistics Limited | 599.3 | 10.00 | 2.72 | 27.87 |
