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Warehousing firm Snowman Logistics plans to raise nearly Rs 200 crore from an initial public offering (IPO), which will be open between August 26 and August 28.
The company plans to sell 42 million shares through the IPO priced in the range of Rs 44 and Rs 47 apiece.
The IPO comprises of 25% post-issue paid up-capital, valuing the company at around Rs 790 crore at the top end of the price band.
Snowman’s public issue is only the second IPO, after amusement park operator Wonderla Holidays, in 2014.
The sharp 25% increase in benchmark indices seen so far this year is yet to translate into a boom for the IPO market. HDFC Bank is the investment bank handling the IPO.
Snowman is promoted by Gateway Distriparks and Mitsubishi Corporation, International Finance Corporation and Norwest Venture Partners are some of the other shareholders in the company.
