BackSnowman Logistics says anchor investors subscribe to shares at Rs47 per share
Anchor investors subscribe to 9.45 million shares at the upper end of price band of `44-47 per share set for Snowman's IPO
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Mumbai: Cold chain services provider Snowman Logistics Ltd, promoted by Gateway Distriparks Ltd, said on Monday that anchor investors subscribed to 9.45 million shares at ₹ 47 each, the upper end of the price band of ₹ 44-47 set for its initial public offer (IPO) that opens on Tuesday.
These anchor investors include Faering Capital India Evolving Fund which subscribed to 3,492,000 shares, ICICI Prudential Growth Fund Series 2 which opted for 2,127,900 shares, ICICI Prudential Value Fund Series 4 which subscribed for 851,100 shares, IDFC Sterling Equity Fund which subscribed for 2,659,800 shares and IDFC infrastructure Fund which opted for 319,200 shares.
Gateway Distriparks owns 54.1% stake in the company which plans to raise around ₹ 200 crore from an IPO that closes on Thursday. International Finance Corporation and Japan-based Mitsubishi Corporation hold 12.4% and 12.6% stake, respectively, in Snowman Logistics.
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