Analysis and Insights into the world of IPOs and investing in India

Thursday, August 28, 2014

Snowman Logistics IPO gets record response, overbid 59 times

The IPO of Snowman Logistics Limited, the largest cold chain solutions provider in India, has received an overwhelming response, getting bids to the tune of close to Rs.9000 crores as compared to an issue size of Rs.197 crores

The subscription came from all categories of investors: QIB, HNI and Retail alike with QIB subscription standing at close to 16.98 times, Retail at 39.40 times and HNI at a staggering 221.78 times

The company intends to utilize proceeds to setup new temperature controlled and ambient warehouses and meeting long term working capital
intends to use issue proceeds for setting up new temperature controlled and ambient warehouses, and long term working capital.

Read more at: http://www.moneycontrol.com/news/ipo-issues-open/snowman-logistics-ipo-oversubscribed-59-times_1166181.html?utm_source=ref_article
intends to use issue proceeds for setting up new temperature controlled and ambient warehouses, and long term working capital.

Read more at: http://www.moneycontrol.com/news/ipo-issues-open/snowman-logistics-ipo-oversubscribed-59-times_1166181.html?utm_source=ref_article
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