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Iware Supplychain Services IPO
Iware Supplychain Services Ltd
₹1,14,000 /1200 sharesMinimum Investment
Iware Supplychain Services IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹95.00 | ₹85.05 | -₹9.95 (10.47%) |
Iware Supplychain Services IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 28 Apr ‘25 - 30 Apr ‘25 | ₹1,14,000 | 1,200 | ₹95 - ₹95 |
| Issue Size | IPO Doc |
|---|---|
| 27.13Cr | RHP PDF |
Subscription rate
As of 30 Apr'25, 05:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 2.74x |
| Retail Individual Investor | 2.99x |
| Total | 2.72x |
About Iware Supplychain Services
Founded in
2018
Managing director
Mr Krishnakumar Jagdishprasad Tanwar
Parent organisation
Iware Supplychain Services Ltd
Strengths & Financials of Iware Supplychain Services
Strengths
Risks
Iware Supplychain Services has business offices across Gujarat, West Bengal, Uttar Pradesh, Rajasthan, Punjab, Haryana, and Delhi. The company claims this regional distribution helps it address local market requirements while reducing dependence on any one geographical area.
The company is ISO 9001:2015 certified for quality management systems.
The company has experienced consistent growth in revenue from operations and profit after tax (PAT) over the past three fiscal years. Revenue from operations increased from Rs 43.55 crore in FY23 to Rs 58.71 crore in FY24, finally hitting Rs 85.82 crore in FY25. The company’s PAT also increased from Rs 0.42 crore in FY23 to Rs 4.17 crore in FY24, finally reaching Rs 8.02 crore in FY25.
Iware Supplychain Services is heavily dependent on its top five customers for its revenue from operations. One of these clients contributed Rs 43.79 crore (51.03 percent), Rs 38.39 crore (65.39 percent), and Rs 29.61 crore (67.98 percent) to the company's revenue in FY25, FY24, and FY23, respectively. This is a huge customer concentration risk. Any failure to retain this one particular client or these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business, financial condition, and results of operations.
Iware Supplychain Service’s business is impacted by seasonality, with higher demand from customers in industries like automobile and FMCG during festival seasons. Any decline in demand during these peak seasonal periods could adversely affect the company’s business, financial condition, and results of operations.
As of March 31, 2025, the transportation segment accounted for 64.41 percent of the company's total revenue, compared to 50.59 percent in FY24 and 45.37 percent in FY23. Any significant disruption or decline in demand for transportation services could have a material adverse effect on the company’s business, financial standing, and future growth prospects.
The company derives a substantial portion of its revenue from Gujarat alone, which contributed Rs 57.82 crore (67.38 percent) in FY 2025, Rs 28.21 crore (48.06 percent) in FY 2024, and Rs 20.73 crore (47.59 percent) in FY 2023. Any adverse developments in the business environment of the state could materially affect the company’s revenue, profitability, and operational stability.
There have been instances of delayed filing of returns and depositing statutory dues with regulatory bodies, such as the Ministry of Corporate Affairs, the Income Tax Department, and the GST authorities. These delays have resulted in the payment of penalties and interest, indicating potential weaknesses in the company's compliance processes and internal controls.
As of March 31, 2025, the company had outstanding financial indebtedness of Rs 29.96 crore. Any failure to service or repay these loans, especially as they are repayable on demand, can harm the company’s operations and financial position.
The company, its promoters, and its directors are involved in certain ongoing legal proceedings, including criminal matters. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects, reputation, and financial condition.
Iware Supplychain Services Financials
*All values are in Rs. Cr
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Application Details of Iware Supplychain Services IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹95 - 95 | ₹2 - 5 Lakh |
| High Networth Individual | ₹95 - 95 | ₹2 - 5 Lakh |
For Iware Supplychain Services IPO, eligible investors can apply as Regular.