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Pristine Logistics & Infraprojects files papers with Sebi for Rs 250-cr IPO

Pristine Logistics & Infraprojects Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

ipo filing | SEBI | fund raising

Press Trust of India  |  New Delhi 

initial public offerings

Pristine Logistics & Infraprojects Ltd has filed preliminary papers with capital regulator to raise funds through an initial public offering (IPO).

The initial share-sale comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale of 20,066,269 equity shares by promoters and existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.

The company may consider a pre-IPO placement of equity shares aggregating up to Rs 50 crore. If such placement is undertaken, the size of the fresh issue will be reduced.

Proceeds from fresh issuance will be used to repay debt and for general corporate purposes.

Pristine provides logistics infrastructure and services, pivoted around rail transportation networks. It also offers synergetic logistics infrastructure and services across the spectrum, including non-container, container, rail transportation and road transportation services.

It also helps in areas like integrated logistics solutions by offering, warehousing, storage and cargo handling, rail transportation, road transportation, and third-party logistics (3PL) services and identify these services as the company's key revenue streams.

ICICI Securities, JM Financial and HSBC Securities and Capital (India) Private Limited are the book running lead managers to the issue.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, May 11 2022. 18:18 IST