Snowman Logistics plans IPO, files DRHP with SEBI

Karnataka-based Snowman Logistics is planning to raise money through a initial public offer (IPO). It has filed draft red herring prospectus (DRHP) with SEBI for a public issue of 4.2 crore equity shares.

The company is a trader of frozen marine products which is mainly in the business of Temperature controlled services and Ambient distribution. It intends to use issue proceeds for setting up new temperature controlled & ambient warehouses, long term working capital and general corporate purposes. Also Read: Groundwork before an IPO Equity shares are proposed to be listed on the BSE and the NSE. HDFC Bank is the book running lead manager while Link Intime India Private Limited is registrar to the issue.