CJ Darcl Logistics Limited, a renowned player in the logistics domain, has taken a significant step towards its Initial Public Offering (IPO) by filing the draft red herring prospectus with the Securities and Exchange Board of India (SEBI). The IPO consists of a fresh issue of shares valued at ₹340 crore and an offer for sale of up to 54.31 lakh shares by existing shareholders.
The offer for sale (OFS) includes shares from various selling shareholders, including promoters and other stakeholders. Prominent among them are Krishan Kumar Agarwal, Roshan Lal Agarwal, Narender Kumar Agarwal, Vineet Agarwal, Sushma Agarwal, Puneet Agarwal, Samiha Agarwal, Nitesh Agarwal, Darshan Kumar & Sons (HUF), and Tek Chand Agarwal (HUF).
The funds raised through the fresh issue will be utilized for several purposes, including the repayment or prepayment of outstanding borrowings, funding capital expenditure for the procurement of electric vehicles (EVs), and meeting general corporate requirements.
With over 36 years of operational expertise, CJ Darcl Logistics Limited offers comprehensive logistics solutions across India. In 2017, CJ Logistics, a leading logistics company based in South Korea, acquired a 50% stake in Darcl Logistics Limited. Following the acquisition, the company was rebranded as CJ Darcl Logistics Ltd.
ICICI Securities Limited, Axis Capital Limited, and Mirae Asset Capital Markets (India) Private Limited have been appointed as the Book Running Lead Managers for the IPO.
The move marks a significant milestone for CJ Darcl Logistics Limited as it seeks to expand its presence and strengthen its position in the dynamic logistics sector.
