Adani Ports & SEZ has commended Om Freight for its exceptional service as a clearing and forwarding agent for over two decades.
MUMBAI, Apr 2(The CONNECT)- Mumbai-based Om Freight Forwarders Limited, a 3PL (Third Party Logistics Provider) provider, has filed its draft red herring prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
Om Freight Forwarders Limited is a third-generation logistics service provider with a global presence, headquartered at Mumbai. It began its operations as a freight forwarders and customs clearance agent in 1995, building expertise in this field over the years, further strengthening its capabilities in global trade facilitation. Today, it has evolved into a full-scale logistics solutions provider, offering comprehensive end-to-end services across multiple modes of transport, including sea, air, road,
and rail.
The Company’s services include international freight forwarding, customs clearance (CHA), vessel agency services, transportation service, warehousing, and distribution. It specializes in the transportation of high-value, specialized equipment for infrastructure projects, power plants, compressor stations, and more.
The IPO, with a face value of ₹10 each, combines fresh issuance of Rs 25 crore with an offer for sale of up to 7,250,000 equity shares by the Promoter Selling Shareholder.
The offer for sale consists of up to 3,987,500 equity shares by Rahul Jagannath Joshi, 2,537,500 equity shares by Harmesh Rahul Joshi and 725,000 equity shares by Kamesh Rahul Joshi.
The offer is being made through the book-building process, wherein not less than 50% of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the offer shall be available for allocation to non-institutional bidders, and not less than 35% of the offer shall be available for allocation to retail individual bidders. The offer includes reservations for subscriptions by eligible employees
The proceeds from its fresh issuance to the extent of Rs 16.64 crore for Funding of the capital expenditure requirements of the company related to the acquisition of commercial vehicle and heavy equipment and General corporate purposes.
With a focus on cost-effective, end-to-end logistics solutions, the company ensures seamless operations and timely deliveries worldwide. Additionally, it specializes in handling project cargo, a complex logistics segment that demands meticulous planning and technical expertise. Additionally, Adani Ports & SEZ has commended Om Freight for its exceptional service as a clearing and forwarding agent for over two decades.
As per CRISIL Report, the company provides comprehensive shipping and logistics solutions, specializing in the handling and transportation of over-dimensional cargo (ODC), heavy lift cargo, breakbulk cargo, sensitive cargo, and dry bulk cargo and it offers tailored cargo handling services, ensuring safe and efficient transportation of large, non-containerized, and climate-sensitive shipments. It also manages complex logistics for infrastructure and oil & gas projects while facilitating seamless port-to-premise transportation for dry bulk cargo.
The company operates on a pan-India basis with 28 branches and an international reach spanning 800+ destinations through strategic tie-ups and partnerships. As a multimodal transport operator, it provides seamless end-to-end freight solutions via sea, road, rail, and air, offering customers an integrated, single-window logistics experience. The company hybrid approach facilitates efficient fleet and warehouse management, as well as adaptable supply chain operations. Its supplement owned assets with rental options during peak periods to ensure the consistent delivery of reliable services. Its fleet includes 152 owned commercial vehicles and equipment, supplemented by a network of 15 logistics partners, ensuring reliable and scalable logistics solutions worldwide.
In Fiscal Years 2024, 2023, and 2022, as well as for the six months ended September 2024, Om Freight Forwards served 1,662, 1,664, 1,645, and 1,200 customers, respectively, across industries such as Minerals, Mining & Steel, Coal, Oil & Gas, Energy & Power, FMCG, and EPC & Infrastructure. Offering comprehensive, end-to-end shipping and logistics solutions, the company provides a single-window service, reducing the need for multiple providers.
Om Freight Forwarders Ltd.’s revenue from operations stood at Rs. 410.50 crore for fiscal 2024 and the profit after tax for the same period stood at Rs. 10.35 crore.
For the period ended 30th September, 2024 Revenue from Operations stood at Rs. 250.29 crore and Profit after tax for the same period stood at Rs. 13.22 crore.
Smart Horizon Capital Advisors Private Limited is the sole book-running lead manager and Bigshare Services Private Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.
