CJ DARCL LOGISTICS LIMITED FILES DRHP WITH SEBI

CJ Darcl Logistics Limited, a diversified logistics company in India with market leadership in full truck load (“FTL”) vertical in terms of revenue for Fiscal 2023. (Source: CRISIL Report) files its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

The Company plans to raise funds through offer of equity shares (face value ₹ 10 each) through initial public offerings. The offer comprises of fresh issue of Equity Shares aggregating up to ₹ 340 crore and offer for sale up to 5,431,071equity share by Selling Shareholders.

The company proposes to utilize net proceeds from fresh issue towards –Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by Company; Funding capital expenditure requirements of  Company towards purchase of EVs; and General corporate purposes.

CJ Darcl Logistics Limited has over 36 years of operational experience since inception and provide differentiated logistics solution with its pan-India presence, integrated service offerings, market intelligence and know-how, focuses on improving service through technology, and large network of business partners.

In 2017 CJ Logistics, a diversified logistics company, headquartered in South Korea, acquired 50% stake in Darcl Logistics Limited. As per CJ DARCL’s rating rationale, CJ Logistics is the largest logistics company in South Korea and has operations across 161 cities in 36 countries, with 249 hubs.

In September 2017, the company was rechristened CJ Darcl Logistics Ltd. It has an owned fleet of 990 vehicles as of March 31, 2023

The Offer for Sale comprises of – up to 369,000 Equity Shares by Krishan Kumar Agarwal, up to 203,502 Equity Shares by Roshan Lal Agarwal, up to 230,897 Equity Shares by Narender Kumar Agarwal  (The “Promoter Selling Shareholders”); up to 578,000 Equity Shares by Vineet Agarwal, up to 529,279 Equity Shares by Sushma Agarwal, Up to 447,489 Equity Shares by Puneet Agarwal, Up to 446,285 Equity Shares by Samiha Agarwal, up to 425,129 Equity Shares by Nitesh Agarwal, Up to 336,535 Equity Shares by Darshan Kumar & Sons(HUF) and up to 289,574 Equity Shares by Tek Chand Agarwal (HUF) (Other Selling Shareholders ). (The “Offer for Sale”).

The Equity Shares that will be offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”).

ICICI Securities Limited, Axis Capital Limited & Mirae Asset Capital Markets (India) Private Limited are the Book Running Lead Managers to the issue.