Iware Supplychain IPO Starts Off Slow: Lists 10.5% Lower Than Expected

It wasn’t the debut Iware Supplychain was hoping for. The logistics company’s IPO (Initial Public Offering) made its way to the stock market today — but things didn’t exactly take off. The company’s shares opened at ₹85.50, which is about 10.5% lower than the issue price of ₹95. By the end of the day, the stock had inched up a little, closing at ₹86.25 — but still below what early investors paid.

What Is Iware Supplychain, Anyway?

In case you’re not familiar with the name, Iware Supply Chain Services is a logistics company that started back in 2018. Simply put, they help move and store goods for other businesses — everything from fast-moving consumer goods (like your everyday groceries) to pharmaceutical products and e-commerce packages.

They’ve been trying to grow fast, recently adding a big new warehouse in Gujarat and another facility in Rajasthan. They clearly have their eyes on being a bigger player in the logistics space, which is a fast-growing industry thanks to the online shopping boom.

So, What Happened With the IPO?

The company had set its IPO price at ₹95 per share. That’s the price investors paid during the IPO period. But when the stock got listed today, it opened at ₹85.50 — which means early investors saw an immediate loss of over 10%. Not great.

Now, you might be wondering why this happened. There are a few reasons:

1. Low Buzz in the Market

Before the listing, there wasn’t much excitement or strong demand in what’s called the “grey market” — an unofficial market where IPO shares are traded before listing. That’s often a sign that the stock might not open strong.

2. Investor Caution

Even though the company has been growing, it’s still relatively small and young. Some investors may have felt the stock was priced too high for a company that’s still finding its footing.

3. Tough Timing

The broader market hasn’t been very kind to SME IPOs lately. Even good companies can struggle to attract attention if the overall mood is cautious.

How’s the Company Actually Doing?

Here’s the good news: Iware’s numbers aren’t bad. In fact, the company has shown strong growth.

• Revenue jumped from ₹58.77 crore in 2023 to ₹86.11 crore in 2025. That’s a pretty healthy increase.

• Profits nearly doubled in the same time — from ₹4.17 crore to ₹8.02 crore.

• Their return on net worth (a measure of how well they’re using their money) is almost 50%, which is impressive.

So even if the stock didn’t start strong, the business itself looks like it’s on a decent path.

What’s Next for Iware?

Honestly, one weak listing day doesn’t mean the story is over. The logistics sector in India is expected to keep growing, especially with more people shopping online and the government pushing to improve infrastructure.

If Iware can keep expanding smartly, manage its operations well, and show consistent growth in the next few quarters, the stock could bounce back. For now, investors will be watching to see if the company can deliver on its promises.