Skip to main content

Snowman Logistics Limited IPO opens on August 26, 2014

Price Band fixed between Rs. 44 & Rs. 47 per equity share

Issue graded by Crisil as 4/5
Warehousing firm Snowman Logistics Limited proposes to open on August 26, 2014, a public issue of 42,000,000 equity shares of Face Value of Rs. 10 each. The Price Band has been fixed between Rs. 44 and Rs. 47 per Equity Share. The Issue will constitute 25.23% of the Post-Issue Paid-Up Equity Share Capital of the Company. Bids can be made for a minimum of 300 Equity Shares and in multiples of 300 Equity Shares thereafter. The Issue closes on August 28, 2014, for all bidders. The Company, in consultation with the BRLM, may consider participation by Anchor Investors. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid / Issue Opening Date.

The Issue is being made under Regulation 26(2) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended and through a Book Building Process wherein at least 75% of the Issue shall be allotted on a proportionate basis to Qualified Institutional Buyer (QIB) Bidders. 5% of the QIB Portion (excluding Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not more than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. QIBs (other than Anchor Investors) and Non-Institutional Bidders should compulsorily participate in the Issue through the Application Supported by Blocked Amount (ASBA) process providing details of the bank account which will be blocked by the Self Certified Syndicate Banks (SCSBs) to the extent of the Bid Amount for the same. Retail Individual Bidders may also participate in the Issue through the ASBA process.
The Issue has been graded by CRISIL Limited as 4/5, indicating that the fundamentals of the Issue are above average in relation to other listed equity securities in India.

The Book Running Lead Manager (BRLM) to the Issue is HDFC Bank Limited.

 The Equity Shares offered and issued through the Red Herring Prospectus are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited.

Promoted by Gateway Distriparks Limited, Snowman Logistics Ltd. is an integrated temperature controlled logistics service provider with an ability to service customers on a pan-India basis. Other shareholders include Mitsubishi Corporation, Mitsubishi Logistics Corporation, International Finance Corporation and Norwest Venture Partners VII–A Mauritius. Snowman’s operations can be classified into the following business segments: 1.       Temperature controlled services; and 2. Ambient distribution. Its warehousing solutions cover the complete spectrum of temperature ranges from ambient to chilled and frozen (i.e. +20ºC to -25ºC). Snowman offers blast freezing facilities at its temperature controlled warehouses in Bengaluru, Mevalurkuppam, (near Chennai), Visakhapatnam, Serampore (near Kolkata), Taloja (near Mumbai), Ahmedabad, Palwal (near Delhi), Mubarakpur (near Chandigarh) and Surat. Its integrated ‘Source to Stores’ operations comprise warehousing, primary distribution and secondary distribution and value-added services including kitting, labelling, sorting and bulk breaking. As of March 31, 2014, its operations comprised 23 temperature controlled warehouses across 14 locations in India including Serampore (near Kolkata), Taloja (near Mumbai), Palwal (near Delhi), Mevalurkuppam, (near Chennai) and Bengaluru capable of warehousing 58,543 pallets and 3,000 ambient pallets. As of March 31, 2014, it operated 370 Reefer vehicles consisting of 307 leased and 63 owned vehicles. A majority of its temperature controlled warehouses are ISO 14001 (TUV-SUD), ISO 22000 (TUV-SUD) and FSSA certified. In addition, four(4) of its temperature controlled warehouses are EIA and MPEDA certified and four (4) temperature controlled warehouses are certified under the Drugs and Cosmetics Act, 1940. The product segments it caters to include: dairy products including butter and cheese; ice-cream; ready-to-eat/ready-to-cook food products; confectioneries including chocolate and baked products; fruits and vegetables; healthcare and pharmaceutical products; and industrial products such as X-ray and photo-imaging, films. 

Comments

Post a Comment

Popular posts from this blog

CARE Ratings shares list at 25% premium on NSE

Credit Analysis and Research Limited (  CARE ) has listed at Rs 940, a 25% premium against its issue price of Rs 750 per share on the National Stock Exchange (NSE). The stock hit a high of Rs 955 and low of Rs 930 so far. A combined 1.41 million shares have changed hands on the counter in opening deals on the NSE and BSE. CARE, the second-largest credit rating agency in India, has raised Rs 540 crore by issuing 7.2 million shares through initial public offer (IPO). The company has fixed the issue price at higher price band at Rs 700-750 per share. The IPO attracted bids for 245.56 million shares against 7.2 million shares on offer, translating to 34.11 times subscription, according to information available in basis of allotment.   The category reserved for qualified institutional buyers (QIBs) was subscribed 43 times, while non-institutional investor’s portion received 110 times subscription. Shares reserved for retail investors got subscribed 6.11 tim...
Post a Comment
Read more

Grab latest cool collectibles in eye wear @ Lawrence & Mayo

Retro-classic look returns to eyewear category with a feast of colours ‘ifest’ offer valid till December 31, 2012 L&M to unveil watches & pens this festive season First-of-its-kind exclusive women’s corporate range of pens November 1, 2012: Welcome this season with a new look that will set trends! Lawrence & Mayo (L&M), India’s most trusted opticians for 135 years, and pioneers in ophthalmic optics & instrumentation, unveils the new look for Festive season 2012. Get the latest cool collectibles from Ray Ban, Oakley and Maui Jim from any of the 89 L&M outlets across India to add a zing to your look this festive season. It’s time to go hep and retro as the old adorable classic styles are back again with the most eclectic and exhaustive range of glasses, glares and contact lenses available at L&M stores. Special kids wear collections and sports wear collections are also available for enthusiasts.  Mr. Vivek Mendonsa, Marketing Director, Law...
Post a Comment
Read more

Country Delight Launches NMR-Tested Honey: The Gold Standard of Purity

  Country Delight continues strengthening its promise of delivering the best purity and quality by launching 100% Pure Farm Honey (NMR Tested) Country Delight, a trusted name in premium and natural essentials, has announced the launch of 100% Pure Farm Honey (NMR Tested). Country Delight’s Farm Honey is Nuclear Magnetic Resonance (NMR) tested by a certified lab in Germany, making it one of the most authentic and reliable kitchen ingredients available to Indian homes. It also undergoes rigorous testing on 36 quality parameters as per FSSAI standards, including physicochemical, antibiotic and microbial, to rule out the presence of added sugars. Honey is not just a natural sweetener; it is increasingly valued for its functional benefits. With Country Delight's NMR-tested honey, consumers can enjoy a product that supports wellness through its natural composition, which is rich in antioxidants and phytonutrients and offers advantages over refined sugars.  Adulteration with cheaper ...
Post a Comment
Read more