Snowman Logistics Ltd files Red Herring Prospectus for IPO

Snowman Logistics Limited (SLL), a subsidiary of Gateway Distriparks Limited (GDL), has filed its Red Herring Prospectus (RHP) with the Registrar of Companies, Bengaluru for an initial public offering (IPO) of its equity shares.

The company is coming out with an issue of 42 Million equity shares of Rs. 10/- each. The Present Equity Capital of the company is 124.443 Million Shares, which will increase to 166.443 Million Shares after the IPO.c

The Issue opening for subscription on August 26, 2014 and closes on August 28, 2014.

The current holding of Gateway Distriparks Limited in Snowman Logistics Limited (Pre - IPO) is 54.04% which will reduce to 40.17% after the IPO. The Public shareholding post IPO will be 25.23%.

Shares of GATEWAY DISTRIPARKS LTD. was last trading in BSE at Rs.231.25 as compared to the previous close of Rs. 230.4. The total number of shares traded during the day was 6792 in over 669 trades.

The stock hit an intraday high of Rs. 234.75 and intraday low of 229.8. The net turnover during the day was Rs. 1580090.

Source : Equity Bulls

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