Multimodal logistics company Pristine Logistics files confidentially with Sebi for IPO

Pristine Logistics & Infraprojects has confidentially filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) under the pre-filing route, according to a public notice issued by the company, in a step towards a potential initial public offering.

Founded in 2008, the company is a rail-focused multimodal logistics platform that provides integrated logistics infrastructure and services for containerised and non-containerised cargo. Its operations are centred on long-haul rail transportation, supported by road-based first- and last-mile connectivity and logistics terminals across domestic and export-import corridors.

Pristine Logistics is led by promoters Amit Kumar, Durgesh Govil, Rajnish Kumar and Sanjay Mawar, who bring experience across Indian Railways, CONCOR, rail infrastructure development, logistics and legal services. The company said it has been among India’s fastest-growing rail-focused multimodal logistics players in terms of revenue from operations and EBITDA CAGR between FY2023 and FY2025 among key industry peers.

During this period, its operational terminal network expanded from eight to 12 terminals. Containerised cargo volumes rose from 402,049 TEUs to 506,447 TEUs, while non-containerised cargo volumes increased from 1.92 million metric tonnes to 2.51 million metric tonnes.

The company’s services include EXIM and domestic container logistics, rail transportation, rail bulk transportation, warehousing, container maintenance and repair, and mining logistics following its acquisition of Sical Logistics Limited. As of December 31, 2025, it operated more than 5,000 domestic rail containers and around 455 40-foot dwarf containers designed for transporting lightweight cargo.

It also provides third-party logistics services through a warehousing network of about 1.20 million sq. ft. across India, including dedicated and multi-client facilities, as well as dry and temperature-controlled warehouses.

Pristine Logistics is also developing three terminals at Bhurkunda in Jharkhand, Haldia in West Bengal and Bengaluru in Karnataka. The Bhurkunda terminal will handle containerised cargo and bulk commodities such as coal and iron ore. The Haldia facility marks its entry into port-based liquid cargo infrastructure for edible oils, chemicals and other liquid cargo. The Bengaluru project, spread across about 67 acres, is being developed as a rail-linked inland container depot near industrial and warehousing hubs.

The company has also secured a long-term overburden excavation and removal contract from South Eastern Coalfields worth about Rs 3,422 crore, excluding GST, adding to its expansion plans as it moves ahead with the confidential DRHP filing.