 "Gateway Distriparks hits new high on strong response for Snowman IPO")
Gateway Distriparks is trading higher by 4% at Rs 269 after the initial public offer (IPO) of Snowman Logistics oversubscribed on second day of the bidding.
The issue of Snowman Logistics, which is scheduled to close today, has received bids for 92.4 million equity shares as against issue size of 32.5 million shares (excluding anchor investors’ portion), as per data available on the National Stock Exchange (NSE).
The company has set a price band of Rs 44 to Rs 47 per equity share of face value Rs 10 each.
Snowman Logistics, the cold chain subsidiary of Gateway Distriparks and country's largest player in the segment, is expanding capacity of its temperature controlled and ambient warehouses.
After the IPO, Gateway Distriparks’ equity stake in Snowman Logistics will come down to 40.17% from current 54.04%. The public holding post IPO will be at 25.23%, the company said.
Shares of Gateway Distriparks opened at Rs 260 and touched a new high of Rs 271 on NSE. A combined around 200,000 shares changed hands so far on the NSE and BSE.
The issue of Snowman Logistics, which is scheduled to close today, has received bids for 92.4 million equity shares as against issue size of 32.5 million shares (excluding anchor investors’ portion), as per data available on the National Stock Exchange (NSE).
The company has set a price band of Rs 44 to Rs 47 per equity share of face value Rs 10 each.
Snowman Logistics, the cold chain subsidiary of Gateway Distriparks and country's largest player in the segment, is expanding capacity of its temperature controlled and ambient warehouses.
After the IPO, Gateway Distriparks’ equity stake in Snowman Logistics will come down to 40.17% from current 54.04%. The public holding post IPO will be at 25.23%, the company said.
Shares of Gateway Distriparks opened at Rs 260 and touched a new high of Rs 271 on NSE. A combined around 200,000 shares changed hands so far on the NSE and BSE.
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