About Appl Containers IPO
The APPL Containers IPO is a book‑built issue comprising a fresh issue of up to 12.50 lakh equity shares and an offer for sale (OFS) of up to 25.60 lakh equity shares with a face value of ₹10 per share. The company filed its DRHP with SEBI on Sep 25, 2025.
The price band and official dates of subscription and listing will be announced by the company later, but the equity shares are proposed to be listed on the BSE and the NSE platforms. The book-running lead managers (BRLMs) for this issue are Cumulative Capital Pvt. Ltd. and Shannon Advisors Pvt. Ltd., while the registrar to the issue is Bigshare Services Pvt. Ltd.
Company Background
APPL Containers Ltd. was incorporated on October 21, 2021. Initially, it was known as "APPL Containers Private Limited." It changed its status from a private limited company to a public limited company on June 13, 2025 and adopted its current name. The company was formed to create a standalone manufacturing business in the shipping industry.
The registered office and main manufacturing plant of APPL Containers Ltd. are situated at Shampara, Vartej, Bhavnagar district of Gujarat, an emerging center for container manufacturing in India.
Operations & Product Range
The core operational activities of APPL Containers Ltd. relate to the fabrication and supply of a wide range of containers. Their products can be classified into:
- ISO Standard Shipping Containers: Standard dry containers of 10ft, 20ft, and 40ft sizes; high cube, open top, and dual door types.
- Specialized Containers: Coil containers, lashing bin containers, and Battery Energy Storage System (BESS) containers.
- Container Leasing: From Fiscal 2026, APPL has diversified into container leasing.
The company serves the shipping and logistics industry, a crucial infrastructure for domestic and global transport of goods.
Facilities & Capacity
APPL Containers Ltd. has a large manufacturing plant in Bhavnagar, Gujarat, covering 59,115.09 square meters. The plant is highly automated with technologies such as auto-welding robots, laser sensors, and laser cutting facilities.
The plant has an annual capacity of up to 15,000 containers, with over 13,100 containers already produced since inception.
Brands & Market Presence
APPL Containers Ltd. markets its products under the brand "PP Containers." The company has a strong domestic presence, participating in government initiatives like production clusters in Gujarat.
Although production is primarily domestic, the company participates in the global supply chain through its affiliation with the Engineering Export Promotion Council (EEPC India). The acquisition of Aawadkrupa Plastomech Private Ltd. in August 2025 expanded its portfolio to include plastic extrusion plants and rope-making machinery.
Revenue Streams & Business Model
APPL Containers Ltd. has shifted its revenue model from primarily job work for other entities to direct manufacturing and sales of its branded containers.
The main revenue streams include sales of ISO and specialized containers, job work charges, and container leasing. Geographically, the company operates in India, while its products cater to the global logistics industry.
Management & Shareholding
APPL Containers Ltd. is promoted by the Viradiya family, including Hasmukhbhai Meghjibhai Viradiya and Vallabhbhai Meghjibhai Viradiya. Prior to the IPO, the promoter group held the entire share capital. Post-IPO, the shareholding will be diluted.
Board & Key Management
The management team includes Hasmukhbhai Meghjibhai Viradiya (Chairman and Managing Director), Dhaval Jayeshbhai Parekh (CFO), and Divya Reejwani (Company Secretary & Compliance Officer). Independent directors include Darshan Bharatbhai Patel and Abhinav Mahesh Kapadia.
Appl Containers IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 10 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | Up to 38,10,000 Equity Shares |
| Fresh Issue(Ex Market Maker) | Up to 12,50,000 Equity Shares |
| Offer for Sale | Up to 25,60,000 Equity Shares |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 100.00 % (Promoters and Promoter Group) |
| Share Holding Post Issue | [.] |
Appl Containers IPO Financial Information
Latest Revenue
70.49
₹ Crore
Profit After Tax
32.83
₹ Crore
Net Worth
54.84
₹ Crore
Total Borrowing
19.78
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 (₹ Cr) | 82.27 | 70.49 | 32.83 | 54.84 | 52.34 | 19.78 | |||
| 31 Mar 2024 (₹ Cr) | 50.30 | 40.68 | 17.39 | 21.99 | 19.49 | 20.35 | |||
| 31 Mar 2023 (₹ Cr) | 10.87 | 4.54 | 2.08 | 4.58 | 2.08 | 5.29 | |||
| Amount in ₹ Crore | |||||||||
Appl Containers Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 85.45% |
| ROCE | 55.66% |
| Debt/Equity | 0.36x |
| RoNW | 59.86% |
| PAT Margin | 46.57% |
| EBITDA Margin | 64.82% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹26.26 | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The company intends to use the proceeds from the APPL Containers IPO for the following purposes:
- • Funding the working capital requirement
- • General corporate purposes
Conclusion
The APPL Containers IPO offers an opportunity to invest in a growing shipping container business. Strategically located in Gujarat, the company is modernizing manufacturing through automation and diversifying into container leasing, positioning itself to benefit from opportunities in the logistics industry.
Frequently Asked Questions
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Competitive Strengths
Being close to Bhavnagar, Gujarat, also means we're close to major shipping routes and an area of concentrated production of domestic containers.
Using the latest technology available in robotics and precision engineering ensures that we produce quality products with zero wastage of materials.
Having a diversified business model means that there are multiple revenue streams available to us as a company.
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | SEBI/Exchange approval received | 20/02/2026 | - |
| 2 | Filed with SEBI/Exchange | 25/09/2025 | View DRHP |
Appl Containers IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | — | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | — | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | — | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | — | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | — | Over ₹10,00,000 |