Pristine Logistics Eyes Market Debut; Files IPO Papers Confidentially

Pristine Logistics & Infraprojects Ltd has confidentially filed draft initial public offering (IPO) papers with the Securities and Exchange Board of India (SEBI) under the pre-filing route, signalling plans for a public listing.

The rail-focused multimodal logistics company has expanded its terminal network, cargo volumes and warehousing footprint in recent years, while also securing a ₹3,400+ crore contract from South Eastern Coalfields Ltd. Details regarding the issue size and launch timeline have not yet been disclosed.

Pristine Logistics & Infraprojects Ltd. has taken the first formal step towards a stock market listing by filing a draft red herring prospectus (DRHP) with SEBI through the confidential pre-filing route.

The company disclosed the development through a public notice. Details of the proposed issue, including the size of the offering and timing of the IPO, remain undisclosed.

What Does Pristine Logistics Do?

Founded in 2008, Pristine runs an integrated logistics platform built around long-haul rail transportation, supported by first- and last-mile road connectivity. The company operates a rail-led multimodal logistics network serving both domestic and export-import (EXIM) cargo corridors.

Its service portfolio covers container logistics, rail transportation, bulk cargo movement, warehousing, container maintenance and repair services. The company also entered mining logistics through the acquisition of Sical Logistics Ltd.

Pristine is promoted by Amit Kumar, Durgesh Govil, Rajnish Kumar and Sanjay Mawar. The promoters bring experience across Indian Railways, CONCOR, rail infrastructure, logistics and legal services.

As of 31 December 2025, the company operated more than 5,000 domestic rail containers and approximately 455 specialised 40-foot dwarf containers used for lightweight cargo transportation.

The company's warehousing network covers nearly 1.20 million square feet across India. The facilities include dedicated warehouses, multi-client sites, dry storage units and temperature-controlled spaces.

How Has The Company Expanded In Recent Years?

Pristine has emerged as one of the fastest-growing rail-focused multimodal logistics companies among key industry peers in terms of revenue from operations and EBITDA CAGR between FY23 and FY25.

• During the same period, the company expanded its logistics terminal network from 8 facilities to 12.

• Containerised cargo volumes increased from 402,049 TEUs in FY23 to 5,06,447 TEUs in FY25.

• Non-containerised cargo volumes rose from 1.92 million metric tonnes to 2.51 million metric tonnes over the same period.

The company is also adding new infrastructure capacity through projects currently under development in Jharkhand, West Bengal and Karnataka.

A logistics terminal at Bhurkunda in Jharkhand is being developed to handle both container cargo and bulk commodities such as coal and iron ore.

In West Bengal, the Haldia project will mark Pristine's entry into port-based liquid cargo infrastructure, focusing on edible oils, chemicals and related products.

The Bengaluru facility is being built on about 67 acres and will function as a rail-linked inland container depot close to key industrial and warehousing clusters.

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What Could Support Pristine's Future Growth?

Pristine recently secured a major contract from South Eastern Coalfields Ltd.

The order, valued at about ₹3,422 crore excluding GST, covers overburden excavation and removal work. The contract adds a sizeable project to the company's mining logistics business.

The IPO filing comes as Pristine expands its presence across rail logistics, warehousing, bulk cargo and port-linked infrastructure.

The company has not disclosed the size or timing of the proposed public issue.

Source:

Fortune India