Bhavnagar-based APPL Containers Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
The offer, with a face value of Rs 10 per equity share, comprises a fresh issue of up to 12,50,000 lakh shares and an offer for sale of up to 25,60,000 shares by promoters – Hasmukhbhai Meghjibhai Viradiya, Vallabhbhai Meghjibhai Viradiya, Vaibhav Vallabhbhai Viradiya, Manishaben Viradiya, Saritaben Viradiya, Ektaben Vaibhavbhai Viradiya, Tejasbhai Vallabhbhai Viradiya, and Tirthraj Hasmukbhai Viradiya.
The offer also includes a subscription reservation by eligible employees, and a discount is being offered to eligible employees bidding in the employee reservation portion.
The proceeds from its fresh issuance worth Rs 55 crore will be utilised for funding working capital requirement of the company, Rs 16 crore for pre-payment or re-payment, in full or in part, of all or a portion of certain outstanding borrowings availed by our company, and general corporate purposes.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.
Incorporated in 2021, it is a manufacturing company with a primary focus on container manufacturing, operating through our manufacturing facility located at Bhavnagar, Gujarat. In addition to its core manufacturing operations, the company has recently introduced container leasing services in Fiscal 2026, offering flexible leasing options designed to meet the diverse requirements of its clients. Further, through its wholly owned subsidiary, Aawadkrupa Plastomech Private Limited, (acquired on August 14, 2025), the company is also engaged in the design and manufacturing of plastic extrusion plants and rope making machinery.
The company’s manufacturing facility at Bhavnagar is spread over 59,115.09 sq mt of land and the manufacturing facility is capable of manufacturing up to 15,000 containers annually, reflecting its strong operational capabilities. The company has cumulatively produced 13,101 containers (basis job work & direct orders) since incorporation up to March 31, 2025, and as of August 31, 2025, the company has an order book of 802 containers in hand, valued at approximately ₹ 28.34 crore and a service order book for 170 containers.
The company offers a wide range of containers under the following broad segments –
ISO standard complied shipping containers –
Dry containers - 10ft standard, 20ft standard, 40ft standard, 20ft high cube, 40ft high cube
Other containers - Cement tank container, 20ft diagonal door container, 20ft centre door container, Open top container, Both end open containers
Specialised Containers - Coil containers, Lashing bin containers, Battery Energy Storage Systems (BESS) containers.
Out of the above product range, till the date of this Draft Red Herring Prospectus, the company has manufactured and supplied certain containers namely 10 ft standard containers, 20ft standard containers, flat rack lashing bin containers, and 20ft high cube containers.
The remaining container types form part of the company’s product offerings available for future manufacturing and supply. The company has also developed prototypes of 40ft coil container, cement tank container and BESS container.
The certifications and recognitions awarded to the company include -
Certificate of ISO 9001:2015 bearing registration number QM 02 01709, for Design, manufacture, export and supply of all type of shipping containers, issued by TUV INDIA Private Limited.
Certificate of Registration of Container Code in accordance with ISO Standard 6346, bearing certificate no. APPU-2425, issued by The Bureau International des Containers
The company generates revenue from both domestic and export markets, with the majority of its revenue historically derived from domestic operations. The company markets and sell products under the name APPL Containers.
The company’s revenue from operations was Rs 69 crore during FY25 vis-à-vis Rs 4.5 crore during FY23.
Its net profit was Rs 32.8 crore during FY25 vis-à-vis Rs 2.1 crore during FY23.
Cumulative Capital Private Limited and Shannon Advisors Private Limited are the book running lead managers, and Bigshare Services Private Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.
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