CJ Darcl Logistics, the India arm of South Korea’s logistics powerhouse CJ Logistics, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a proposed Initial Public Offering, marking a major milestone in the company’s growth and a significant move for India’s logistics sector, subject to receipt of requisite approvals and market conditions.
The IPO comprises a fresh issue of up to 26,470,000 equity shares and an offer for sale of up to 9,905,355 equity shares, as disclosed in the DRHP. The offer will be made via the book-building route with up to 50% reserved for qualified institutional buyers, not less than 15% for non-institutional investors, and not less than 35% for retail investors. ICICI Securities and DAM Capital Advisors are the Book Running Lead Managers, and MUFG Intime India Private Limited is the registrar. The equity shares are proposed to be listed on BSE and NSE.
CJ Darcl Logistics is a subsidiary of CJ Logistics Corporation, one of South Korea’s largest logistics companies by revenue (Source: CRISIL Report). CJ Logistics Corporation, listed on the Korea Exchange, reported consolidated sales of KRW 12,116,761.15 million (approximately USD 8,196.25 million) for the year ended December 31, 2024, and operates across more than 38 countries with a comprehensive suite of logistics services, including contract logistics, freight forwarding, express parcel delivery and supply chain management.
Incorporated in 1986, CJ Darcl Logistics is an integrated logistics service provider offering multimodal logistics and warehousing and distribution solutions to enterprise customers across India and select overseas markets. The company operates an asset-right model supported by a large, tech-enabled partner network. As of March 31, 2025, the company had a pan-India presence across 6,691 locations through 202 branch offices, 6 administrative offices, 14 warehousing facilities and 1 railway stock yard. Its network comprised 9,55,023 partnered fleet through a base of 5,54,781 business partners, alongside 1,178 owned commercial vehicles, 2,403 containers and have taken 483 vehicles on lease. The company owns 1,899 specialized containers we maintained one of the largest inventories of specialised containers in India, which represents one of the largest of such inventories held by any private company in India (Source: CRISIL Report).The company’s warehousing footprint expanded from 0.60 million sq. ft. in FY23 to 1.13 million sq. ft. in FY25.
CJ Darcl Logistics’ service portfolio spans first-mile transportation, storage, handling, last-mile delivery, invoicing on behalf of customers and inventory management within customer systems. The company serves a diversified customer base across metals, minerals, coal, chemicals, FMCG, engineering and construction, automotive and auto ancillary, agriculture and glass. It catered to 2,291, 2,261 and 2,277 customers during FY23, FY24 and FY25, respectively.
Revenue from operations was ₹5,161 crore in FY25 versus ₹4,215.8 crore in FY23, while net profit was ₹93.1 crore in FY25 versus ₹67.7 crore in FY23. In FY25, FY24 and FY23, contracts with a duration of at least one year contributed ₹4,284 crore, ₹3,775 crore and ₹3,230 crore, representing 83.00%, 82.16% and 76.62% of revenue from operations, respectively.
