New Delhi, Apr 1 (PTI) Third-party logistics services provider Om Freight Forwarders Ltd has filed draft papers with capital market regulator Sebi to raise funds through an initial public offering (IPO).

The IPO involves a fresh issuance of shares worth Rs 25 crore with an offer for sale of up to 72.50 lakh equity shares by the promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Monday.

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Proceeds from its fresh issuance to the extent of Rs 16.64 crore will be used funding of the capital expenditure requirements of the company related to the acquisition of commercial vehicles and heavy equipment, and a portion will be utilised for general corporate purposes.

The Mumbai-based Om Freight Forwarders is a logistics solutions provider offering comprehensive end-to-end services across multiple modes of transport, including sea, air, road and rail.

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The company operates on a pan-India basis with 28 branches and an international reach spanning over 800 destinations through strategic tie-ups and partnerships.

For the period ended September 2024, the company's revenue from operations stood at Rs 250.29 crore and profit after tax at Rs 13.22 crore.

Smart Horizon Capital Advisors is the sole book-running lead manager. The equity shares are proposed to be listed on BSE and NSE.

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