Snowman Logistics IPO to hit markets on August 26, 2014

The Initial Public Offering (IPO) of Snowman Logistics Limited (SLL), a subsidiary of Gateway Distriparks Limited (GDL) will open for subscription by investors on August 26, 2014.

The company proposes to issue 42 Million equity shares of Rs. 10/- each at a price band of Rs. 44 to 47 per equity share through book building process.

The Present Equity Capital is 124.443 Million Shares, which will increase to 166.443 Million Shares post IPO. The shareholding of Gateway Distriparks Limited (GDL) in SLL (Pre-IPO) is 54.04% and pst IPO it will reduce to 40.17%. The public shareholding will be 25.23% post the IPO.

The IPO closes for subscription on August 28, 2014.

Shares of GATEWAY DISTRIPARKS LTD. was last trading in BSE at Rs.243.7 as compared to the previous close of Rs. 231.25. The total number of shares traded during the day was 40680 in over 2794 trades.

The stock hit an intraday high of Rs. 250 and intraday low of 236.65. The net turnover during the day was Rs. 9986776.

Source : Equity Bulls

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