Karnataka-based Snowman Logistics is planning to enter the capital market with an initial public offer (IPO). In this regard, the company has filed draft red herring prospectus (DRHP) with SEBI for a public issue of 4.2 crore equity shares. Equity shares are proposed to be listed on the BSE and the NSE.
The company will utilize the proceeds for setting up new temperature controlled & ambient warehouses, long term working capital and general corporate purposes.
The book running lead manager for the issue is HDFC Bank, while Link Intime India is registrar to the issue.
The company is a trader of frozen marine products which is mainly in the business of Temperature controlled services and Ambient distribution.
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