Dhillon Freight Carrier Limited IPO

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Dhillon Freight Carrier Private Limited, established in 2014, is a logistics solutions provider specializing in road transportation services. Founded by Mr. Karan Singh Dhillon, the company began with a small-scale operation and has since grown to offer a range of services to B2B and B2C customers. The company operates under the ISO 9001:2015 certification, emphasizing professional service and customer satisfaction.

Core Services

Dhillon Freight Carrier offers several key logistics services, including:

1. Parcel/Less than Truck-Load (LTL): Efficient transportation of smaller, grouped goods.

2. Contract Logistics: Tailored solutions for long-term logistical requirements.

3. Fleet Rental/Fleet Leasing Services: Providing businesses with flexible fleet management options.

Fleet and Infrastructure

The company operates a fleet of 62 vehicles, ensuring efficient transportation across its service areas. Dhillon Freight Carrier has a network of 22 offices across India, including booking offices, pickup facilities, warehouses, and delivery offices. Its primary operations are in West Bengal, Bihar, Delhi, and Uttar Pradesh, with plans for further expansion.

Company’s Presence and Growth

Headquartered in Kolkata, the company operates in 5 states, providing logistics services through an extensive network. The company’s focus on consumer needs, innovation, and industry expertise has driven profitable growth and a solid customer base.

Competitive Strengths

i) Diverse service portfolio catering to multiple industries.
ii) ISO 9001:2015 certified for quality service.
iii) Well-established infrastructure with 62 vehicles and 22 operational locations.
iv) Experienced management with a strong entrepreneurial background.

Objects of the Dhillon Freight Carrier Limited IPO:

Company proposes to utilize the funds towards the following objects: A. Purchase of Goods Transportation Vehicles and its fabrication (₹7.66 cr) B. General Corporate Purposes (₹1.09 cr) C. To meet the Issue Expenses (₹1.32 cr)
DRHP of Dhillon Freight Carrier Limited IPO
RHP of Dhillon Freight Carrier Limited IPO

Dhillon Freight Carrier Limited IPO Details:

Open Date: Sep 29 2025
Close Date: Oct 01 2025
Total Shares: 14,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 10.08 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 72 Per Equity Share
Listing At: BSE SME
Listing Date: Oct 07 2025

Promoters And Management:

1. Karan Singh Dhillon (36), Managing Director and Promoter, has been with the company since its inception and was redesignated as Managing Director on January 1, 2024. He holds a BSc in Business from Kelley School of Business (2012) and is a CFA Level II candidate. With over 10 years in logistics, he also directs a Non-Banking Finance Company providing loans for Electric Vehicles and cleantech assets. 2. Karamveer Singh Dhillon (34), Whole Time Director and Promoter, joined the board on February 19, 2018, and was redesignated as Whole Time Director on January 1, 2024. He holds a BA in Economics from New York University and brings two years of experience as a financial analyst, followed by six years in logistics. He is also the Chairperson of the Audit Committee and a member of the Stakeholder Relationship Committee. 3. Joyce Singh Dhillon (56), Non-Executive Director and Promoter, has been with the company since its inception. She holds a BA in English (1988) and serves as the Chairperson of the Nomination and Remuneration Committee. With nearly 10 years of experience, she has played a key role in shaping HR policies, particularly for women’s safety, and in formulating the company’s corporate strategy.

Financials of Dhillon Freight Carrier Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 24.73 24.01 29.59
EBITDA (Cr) 3.67 3.31 1.74
EBITDA Margins 14.84% 13.79% 5.89%
PAT (Cr) 1.72 1.09 0.35
PAT Margins 6.99% 4.55% 1.21%
ROCE 31.77% 23.48% 15.34%
Debt to Equity Ratio(In Times) 0.64 1.37 2.94
Operating Cash Flows 3.42 2.31 2.68

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Dhillon Freight Carrier Limited 24.73 14.84% 6.99% 31.77% 0.64 28.22 16.4
GB Logistics Commerce Limited 206 7% 4.37% 28.20% 0.32 38 4.26
Orissa Bengal Carrier Limited 339 4% 0.58% 5.65% 0.64 116 36.6

Lead Manager of Dhillon Freight Carrier Limited IPO:

  1. Finshore Management Services Limited

Registrar of Dhillon Freight Carrier Limited IPO:

  1. Kfin Technology Private Limited

Discussion on Dhillon Freight Carrier Limited IPO:

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