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Snowman Logistics > Company History > Transport & Logistics > Company History of Snowman Logistics - BSE: 538635, NSE: SNOWMAN

Snowman Logistics

BSE: 538635|NSE: SNOWMAN|ISIN: INE734N01019|SECTOR: Transport & Logistics
Oct 22, 16:00
-0.4 (-1.05%)
VOLUME 52,275
Oct 22, 15:59
-0.45 (-1.17%)
VOLUME 434,092
Company History - Snowman Logistics
The Company was incorporated as Snowman Frozen Foods Limited on March
 17, 1993 as a public limited company under the provisions of the
 Companies Act. The Company received a certificate of commencement of
 business on May 31, 1993 from the Registrar of Companies, Kerala. The
 Company was originally promoted by Amalgam Foods Limited. In 1997,
 Hindustan Unilever Limited (then, Brooke Bond (India) Limited)
 acquired 23% of the Company's equity share capital. In 2001, the
 Mitsubishi Group acquired a majority stake in our Company.
 Subsequently, in 2003, Nichirei Corporation acquired 15% of our
 Company's equity share capital which was thereafter assigned to
 Nichirei Logistics Group Inc. in 2005. In 2006, the Promoter acquired
 the majority stake in our Company by acquiring 6,861,000 shares held
 by Amalgam Foods Limited and by subscribing to fresh shares issued by
 our Company. Consequently, the Promoter held 33.34% of our Company's
 equity share capital. 
 In 2010, IFC acquired 20,570,000 equity shares of the Company.
 Subsequently, on March 17, 2011, the name of the Company was changed
 to Snowman Logistics Limited pursuant to a new certificate of
 incorporation. The change in name was to better capture the nature of
 the business of the Company. In 2013, NVP acquired 17,142,857 shares
 of the Company. Recently, on August 2, 2014, the Promoter acquired
 5,142,500 of the shares held by IFC and on March 11, 2014, the
 Promoter acquired 7,400,000 shares from Nichirei and at present holds
 54.04% share capital of the Company. 
 The table below sets forth the key events in the history of the
 1997 - Brooke Bond (India) Limited acquires a 23% stake 
 1998 - Operations commence in 10 temperature controlled warehouses
 across India 
 2001 - Mitsubishi Corporation and Mitsubishi Logistics Corporation
 jointly acquire a majority stake 
 2004 - Nichirei Logistics Group Inc. (Japan), acquires a 15% stake 
 2006 - GDL acquires majority stake by acquiring 6,861,000 equity
 shares from Amalgam Foods Limited's and by subscribing to fresh
 2008 - Our temperature controlled warehouses get ISO 22000 (Food
 Safety Policy) certification 
 2009 - Implementation of a new enterprise resource planning system 
 2010 - IFC acquires a 20% stake - Certain temperature controlled
 warehouses received ISO 14001 (Environmental Safety Policy)
 2011 - Expansion of our operations in major cities such as Mumbai,
 Bengaluru and Chennai - Set up our Mevalurkuppam, (near Chennai) and
 Bengaluru warehouses. 
 2012 Set up our Taloja (near Mumbai) warehouse. 
 - Snowman Logistics Ltd. (Snowman)  has filed draft red herring
 prospectus (DRHP) with SEBI for a public issue of 4.2 crore equity
 - NVP acquired 14.28% stake - Set up our Chennai, Bengaluru,
 Visakhapatnam, Taloja (near Mumbai), Mulshi (near Pune) and Palwal
 (near Delhi) warehouses. - GDL acquires 5,142,500 shares in our
 Company from IFC 
 - GDL acquires 7,400,000 shares in our Company from Nichirei
 Logistics Group Inc. to increase its stake to 54.06%
 -  The equity shares of Snowman Logistics Ltd (Scrip Code: 538635)
 are listed and admitted to dealings on the Exchange in the list of
 'T' Group Securities.
 -Snowman Logistics Lt  Commencement of operation - Chennai
 -Snowman Logistics starts operations at new warehouse
 -Snowman Logistics Ltd  entered into a three year service agreement
 with international food services
 -Snowman Logistics Lt -Commencement of operations - Bengaluru
Source : Dion Global Solutions Limited
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