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Snowman Logistics IPO closes on August 28, 2014

. The Company has already finalized the allocation of 9,450,000 Equity Shares (15% of the total Issue size of 42,000,000 Equity Shares) to 3 Anchor investors at Rs. 47 per Equity Share

August 27, 2014 5:47 IST | India Infoline News Service
The Initial Public Offering (“IPO”) of Snowman Logistics Limited (the “Company”) closes on Thursday, August 28, 2014. The Company has already finalized the allocation of 9,450,000 Equity Shares (15% of the total Issue size of 42,000,000 Equity Shares) to 3 Anchor investors at Rs. 47 per Equity Share (upper end of the Price Band) aggregating to Rs. 444.15 million (Rs. 44.42 crore). 
The Anchor Investors are Faering Capital India Evolving Fund, ICICI Prudential Growth Fund - Series 2, ICICI Prudential Value Fund Series - 4, IDFC Sterling Equity Fund and IDFC Infrastructure Fund.
The details of the Anchor Investors to whom shares have been allotted are also available on the websites of the National Stock Exchange of India Limited (NSE) and BSE Limited.
The Company has allocated 3,492,000 (36.95% of the total anchor portion) to Faering Capital India Evolving Fund; 2,127,900 (22.52% of the total anchor portion) to ICICI Prudential Growth Fund Series-2; 8,51,100 (9% of the total anchor portion) to ICICI Prudential Value Fund Series-4; 2,659,800 (28.15% of the total anchor portion) to IDFC Sterling Equity Fund  and 3,19,200 (3.38% of the total anchor portion) to IDFC Infrastructure Fund.
Snowman Logistics Limited proposes a public issue of 42,000,000 equity shares of Face Value of Rs. 10 each (Equity Shares) ("Issue"). The Price Band has been fixed between Rs. 44 and Rs. 47 per Equity Share. The Issue will constitute 25.23% of the Post-Issue Paid-Up Equity Share Capital of the Company. Bids can be made for a minimum of 300 Equity Shares and in multiples of 300 Equity Shares thereafter.
The Issue has been graded by CRISIL Limited as 4/5, indicating that the fundamentals of the Issue are above average in relation to other listed equity securities in India.
The Book Running Lead Manager (BRLM) to the Issue is HDFC Bank Limited.

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