Blue Water Logistics IPO: Price, GMP And Overview

Blue Water Logistics IPO- Complete Overview

Blue Water Logistics IPO under the SME IPO category is a book build issue of Rs. 40.50 Cr from Blue Water Logistics Limited, which was incorporated in April 2010. Supply Chain & Logistics Solution, Blue Water Logistics Ltd. Freight forwarding, Customs clearance at source & on destination, transportation handling are the main services provided by the company

The company handles project logistics, SCM & warehousing in and out affecting through air, sea & landside transport offering innovative problem-solving client solutions with cargo pick up, customs clearance, and shipping all under one roof logistics service.

The company has five 5 establishments situated in Chennai, Delhi, Jaipur, Visakhapatnam, and Thane. It caters to customers of confectionery goods, chemicals, crockery, natural stones, textiles and electronics, and fitness equipment.

As of 31 March 2025, the company has 25 commercial vehicles for different loads.

Telangana, Gujarat, Maharashtra, Rajasthan, AP, Tamil Nadu, Delhi, Punjab, Karnataka, UP, MP, Odisha, and abroad (Africa, Singapore &UAE) are the locations where services are offered by the company.

Blue Water Logistics IPO Overview

The Blue Water Logistics IPO will start on May 27, 2025, and end on May 29, 2025. 

The Rs. 40.50 Cr new SME IPO comprises a wholly fresh issue of 30 lac Shares. 

The upcoming IPO allotment is on May 30, 2025. The Blue Water Logistics IPO price is Rs. 132 to Rs. 135 for each Share. 

The Blue Water Logistics IPO listing date is Jun 03, 2025 (expected)and listing at the NSE and SME.

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Company Financial

(Amount in Lac)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	76.34	42.12	29.28
Total Revenue	196.29	138.74	98.07
PAT	10.67	5.94	1.54
Net Worth	20.15	9.48	3.54
Reserves & Surplus	12.15	7.48	1.54
Borrowings	36.73	17.22	18.81

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(1,146.69)	423.27	294.18
Net Cash Flow Investing Activities	(525.33)	(175.83)	(114.55)
Net Cash Flow Financing Activities	1,663.08	(325.85)	(338.37)

 

Revenue Bifurcation

Industry-wise revenue bifurcation

(Rs. in lac)

Service-wise Revenue Breakdown

 

Country-wise Revenue Breakdown

State-wise Revenue Breakdown

(Source: RHP)

 

The Objective of the Issue

• Financing the necessary capital expenditures through the acquisition of vehicles and their body construction.

• Meeting the company's working capital needs.

• General corporate purposes.

 

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Peers of Blue Water Logistics Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Shreeji Translogistics Ltd.	2	2.33	5.70
Shree Vasu Logistics Limited	10	2.72	220.33

 

 

Evaluation

Blue Water Logistics IPO price is Rs. 132 to Rs. 135 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2025 with an EPS of Rs. 13.34 from the last year, the resulting P/E ratio is 10.11x.

Considering the weighted EPS of Rs. 11.37 for the last three years, the P/E ratio is 11.87x.

 

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Comparative Analysis With Listed Peers

The average P/E Ratio of the logistics industry based on listed peers is 113.02.

Particulars	P/E Ratio (x)
Highest	220.33
Lowest	5.70
Average	113.02

 

In simple words, the P/E ratio of this IPO (10.11x), compared with the industry’s average P/E of 113.02x, has an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

IPO's Strengths

• Well-established relationship with clients.

• Drawing experience from the Promoters and Directors.

• Multiple customer verticals in different industries, breadth.

• Wide spectrum of logistics services.

• Domestic and International Network reach. 

 

IPO’s Weaknesses

• The majority of its sales from the operation are coming from its ocean freight services. Any inconsistency in the ocean freight segment might impact the financial operations.

• If delayed or interfered with customs house clearance, it could damage its business and reputation with its customers.

• It needs the working capital to support its sustainable day-to-day running of the business, and without it, it may harm its business, profitability, and growth.

 

Blue Water Logistics IPO GMP

Blue Water Logistics IPO GMP is Rs. 0 as of 26 May 2025, while writing this information. The Blue Water Logistics IPO listing price is Rs. 135 (estimated).

IPO Timetable (Tentative)

The Blue Water IPO date of application is starting from May 27 to May 29, 2025, allotment on May 30, refund initiation on Jun 02, and listing on Jun 03, 2025.

Events	Date
IPO Opening Date	May 27, 2025
IPO Closing Date	May 29, 2025
IPO Allotment Date	May 30, 2025
Refund Initiation	Jun 02, 2025
IPO Listing Date	Jun 03, 2025

 

Blue Water Logistics IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 30,00,000 Shares (Rs. 40.50 Cr).

IPO Opening & Closing date	27 May, 2025 to 29 May, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 132 to Rs. 135 per Share.
Lot Size	1000 Shares
Issue Size	30,00,000 Shares (Rs. 40.50 Cr)
Offer for Sale	-
Fresh Issue	30,00,000 Shares (Rs. 40.50 Cr)
Listing at	NSE, SME
Issue Type	Book Building Issue
Registrar	Maashitla Securities Private Limited

 

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1000 Shares) amounting to Rs. 1,35,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2000 Shares) amounting to Rs. 2,70,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

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IPO Reservation (% of Net Issue)

Institutional’s Portion	50%
Retail’s Portion	35%
Non-Institutional’s Portion	15%

 

Promoters And Management of Blue Water Logistics Ltd.

• Mr. Laxmi Narayan Mishra

• Mr. Lalit Panda

• Ms. Madhusmita Mohanty

• Ms. Supriya Mishra.

Pre-Issue Promoter Shareholding	95.62%
Post-Issue Promoter Shareholding	69.55%

 

IPO Lead Managers

• Smart Horizon Capital Advisors Private Limited.

 

 

Dividend Policy

The company has not paid a dividend since its incorporation. 

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Conclusion

The Blue Water Logistics IPO is set to open from tomorrow and has a reasonable P/E ratio and impressive revenue growth. The company’s integrated logistics services, extensive customer network, as well as its national and international coverage enhance its attractiveness. Still, management issues and potential risks with cash flows require careful consideration.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.