Friday, March 22, 2019


Snowman Logistics to go public with IPO on Aug 26; Price Band Rs 44-47
Friday, 22 August, 2014, 08 : 00 AM [IST]
Nandita Vijay, Bengaluru
Snowman Logistics, a leading food cold chain logistics company, has now opted to go public to raise funds via the initial public offering (IPO) route, which opens on August 26, 2014.

According to the company, the objective of the issue is to raise capital for the establishment of new temperature and ambient warehouse.

The company, headquartered in Bengaluru, has stated that the proceeds of the IPO would be used as a long-term working capital and for general corporate purposes.  

Its operations cover two segments: Temperature-controlled services and  ambient distribution. The product segments it caters to include: dairy products like butter and cheese; ice cream; ready-to-eat, ready-to-cook food products; confectioneries including chocolate and baked products; and fruits and vegetables.

The issue has been graded by CRISIL as 4/5, indicating that the fundamentals of the issue are above average in relation to other listed equity securities in India.

The company has planned to offer 4.20 crore shares. The price band has been fixed between Rs 44 and Rs 47 per equity share.

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

According to the company’s red herring prospectus, submitted to the stock market regulator SEBI, India’s temperature-controlled logistics market is estimated between Rs 1,20,000 crore and Rs 1,50,000 crore and is poised to grow at around 20 per cent for the next 3-5 years.

Snowman Logistics is promoted by Gateway Distriparks and is a recognised  integrated temperature-controlled logistics service provider with an ability to service customers on a pan-India basis. Its shareholders include Mitsubishi Corporation, Mitsubishi Logistics Corporation, International Finance Corporation and Norwest Venture Partners VII–A Mauritius.

The company’s  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), and Mevalurkuppam (near Chennai and Bengaluru), capable of warehousing 58,543 pallets and 3,000 ambient pallets. It operated 370 reefer vehicles consisting of 307 leased and 63 owned vehicles ending fiscal 2014.
Print Article Back FNB News Twitter
Post Your commentsPost Your Comment
* Name :    
* Email :    
  Website :  
Comments :  
Captcha :

Food and Beverage News ePaper
“Regulations & standards work has been completed”
Past News...

Packaged wheat flour market growth 19% CAGR; may reach Rs 7500 cr: Ikon
Past News...
Advertise Here
Advertise Here
Advertise Here
Recipe for Success
Recipe for Success: MasterChef’s hat the most rewarding for multiple hat-wearer Bhadouria
Past News...

Home | About Us | Contact Us | Feedback | Disclaimer
Copyright © Food And Beverage News. All rights reserved.
Designed & Maintained by Saffron Media Pvt Ltd