Snowman Logistics to open IPO on Aug 26

Snowman Logistics, an integrated temperature controlled logistics service provider, will hit the country's capital markets on August 26 with its initial public offer (IPO).
The public issue would close on August 28, as per the red herring prospectus filed by Snowman Logistics with market regulator Sebi.
The Bengaluru-based company is planning to offer 4.20 crore shares to investors through its IPO.
According to Snowman Logistics, the proceeds from the public issue would be used towards setting up new temperature controlled and ambient warehouses, long term working capital, and for general corporate purposes.
HDFC Bank is the book running lead manager while Link Intime India is acting as the registrar to the issue.

The equity shares of the company are proposed to be listed on the BSE and the NSE.

Snowman Logistics began its business in 1998 and since then expanded its operations to become an integrated temperature controlled logistics service provider in India.
As of March 31, 2014, our operations comprised 23 temperature controlled warehouses across 14 locations across the country and has a work force of 1,490.
The products catered to by the company include dairy products, ice-cream, poultry and meat, seafood, fruits and vegetables, healthcare and pharmaceutical products.