Tara Chand Logistic Solutions Ltd (TCLS) is incorporated in 2012. This company is mainly engaged in providing logistics and supply chain services including transportation and warehousing, equipment rental and steel processing and distribution in India. TCLS IPO is open from today and now one can apply in the issue till 15th March. I have checked the draft red herring prospectus to find the issue details and issue price to present my Tara Chand Logistic Solutions Ltd IPO Review for you.
About Tara Chand Logistic Solutions Ltd IPO :
- IPO Opens on – March 13, 2018.
- IPO Closes on – March 15, 2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 55 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Retail Allocation – 50%
- Market Lot – 2000 Shares.
- Minimum Order Quantity – 2000 Shares.
- Issue Size – 3,720,000 Equity Shares of Rs 10 aggregating up to Rs 20.46 Cr.
- Listing Exchange – NSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Repayment of Certain Secured Borrowings availed by the Company.
- Purchase of Capital Equipment.
- To meet working capital requirement.
- General Corporate purposes.
- Issue Expenses.
About The Company –
- Tara Chand Logistic Solutions Ltd has successfully provided comprehensive solutions to many large organizations.
- This company offers their services to a broad range of industries which includes steel, urban and rural infrastructure, oil and gas, renewable energy etc.
- Tara Chand Logistic Solutions Ltd invests a great amount of time in staff training and development to ensure individual growth along with the progress of the group.
- This company is over the last two decades, the group has diversified into deployment of heavy lifting equipment required for infrastructure and construction projects.
- Tara Chand Logistic Solutions Ltd is operating crews always adhere to the company practices of wearing safety gears – Safety Shoes, Reflecting Jackets, Hand gloves and Helmets.
Promoters of the company :
- Vinay Kumar, aged 55 years, is the Managing Director of this company.
- Ajay Kumar, aged 53 years is the Whole-time Director of this company.
Tara Chand Logistic Solutions Ltd IPO Review: The financial figures are really powerful for TCLS. Profits have increased steadily over the years making the company attractive for the investors. The earnings per share or EPS is close to 3 and the price to earnings ratio is very close to 20. The merchant banker also has a good track record in giving listing gains to the investors. Hence, our Tara Chand Logistic Solutions Ltd IPO Review has a POSITIVE view on this issue. Investors can apply for TCLS IPO and hold for long-term gains.