Snowman Logistics Ltd is coming up with a further Public Offer (IPO) of its shares between 26 August 2014 to 28 August 2014. The price band of issue is Rs. 44 to Rs. 47 per equity Share [stock_quote symbol=”538635″]. Snowman is engaged in cold chain warehousing and transport and value added services for perishable goods. The largest shareholder in company Gateway Distriparks Ltd (GDL).
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[wptabtitle] Company Profile[/wptabtitle] [wptabcontent]
Snowman Logistics Ltd, founded in 1993, is a leading integrated player in a predominantly unorganised cold chain industry in India. Major Shareholder in the Company are GDL (48.33%), Mitsubishi Corp. (12.63%), IFC (12.46%) and Norwest Venture Partner VII-A Mauritius (13.84%).
Snowman was incorporated by Aalagam Food Ltd in 1993 as Snowman Frozen Foods Ltd in 1997, erstwhile Brooks Bond India, acquired 23% stake in company. In 2001, Mitsubishi Corporation bought a majority stake in Snowman. In 2006, GDL became the largest shareholder in the company and revamped snowman’s management structure.
Snowman is engaged in cold chain warehousing and transport and value added services for perishable goods. In its transport business, the company offers services through primary and secondary transportation. Primary transportation is an intercity service while secondary transportation is an intra-city service. The company provides services to various industries such as seafood, poultry, fruits and vegetables, dairy, ice-cream, food processing, pharmaceuticals and some other niche segments.
Objects of Issue
The objects of the Issue are:
- Capital expenditure for setting up new temperature controlled and ambient warehouses
- Long term working capital
- General corporate purposes
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shortly updated isin / script code details -Current Price – [stock_quote symbol=”SNOWMAN”]
Registrar of Issue : Link Intime
Listing : NSE & BSE