26 August 2014

SNOWMAN LOGISTICS IPO: Subscrobe 0.93x on day 1 (All Exchanges)

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Snowman Logistics Limited
Last updated on 26/08/2014 05:00 PM
Sr.No.CategoryNo.of shares offered/reservedNo. of shares bid forNo. of times of total meant for the category
1Qualified Institutional Buyers (QIBs)22050000136374000.6200
1(a)Foreign Institutional Investors(FIIs)0
1(b)Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)0
1(c)Mutual funds0
1(d)Others13637400
2Non Institutional Investors217500021243000.9800
2(a)Corporates567900
2(b)Individuals(Other than RIIs)1556400
2(c)others0
3Retail Individual Investors(RIIs)5075000113583002.2400
3(a)Cut Off9849000
3(b)Price bids1509300
Total29300000271200000.93


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Invest in Snowman Logistics IPO : Kotak Sec

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Snowman Logistics Limited has proposed to sell 4,20,00,000 Equity Shares exclusively through Initial Public Offer (IPO) between August 26-August 28, 2014.
 
Company NameSnowman Logistics Limited
Issue Period
August 26 - August 28, 2014
Price BandRs 44/- – Rs 47/- per equity share
Lot Size300 shares & in multiple of 300 shares thereafter
Issue SizeINR 197.40 crs (at INR 47 per share)
Face ValueRs. 10 each.
IPO GradeGrade 4 / 5 by CRISIL
ListingTo be listed on NSE & BSE
Who Can InvestResident Indian individuals, HUF, Companies, corporate bodies, scientific institutions, societies and trusts, NRIs, FIIs

Highlights of the Company
  • Snowman Logistics Limited commenced business as a trader of frozen marine products and in Fiscal 1998.
  • Snowman Logistic Limited (SLL) expanded operations to become an integrated temperature controlled logistics service provider with an ability to service customers on a pan-India basis.
  • Companies operations can be classified into the following business segments:
    1. Temperature controlled services; and
    2. Ambient distribution..
  • A majority of their temperature controlled warehouses are ISO 14001 (TUV-SUD), ISO 22000 (TUV-SUD) and FSSA certified. In addition, 4 (four) of temperature controlled warehouses are EIA and MPEDA (Marine Products Export Development Authority) certified and 4 (four) temperature controlled warehouses are certified under the Drugs and Cosmetics Act, 1940
  • As of March 31, 2014, their operations comprised 23 temperature controlled warehouses across 14 locations in India.
Company Profile
  • Net Profits after tax: INR 232.27 million as on 31st March 2014.
  • Total Income: INR 1,552.33 million as on 31st March 2014.
  • Net worth: INR 2,213.04 million as on 31st March 2014.



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Snowman Logistics Ltd -SUBSCRIBE to the IPO :: ICICI Securities

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Snowman Logistics Ltd
Price band | 44 - 47

Steaming up for the cold zone…
Snowman Logistics Ltd (SLL) with 23 temperature controlled warehouses
across 14 locations and 370 reefer vehicles is a pioneer in operating
temperature controlled and ambient warehouses in India. With majority of
warehouses being ISO 14001 (TUV-SUD) and ISO 22000 (TUV-SUD)
certified and with the ability to provide a wide spectrum of temperature
zones (+20*C to -25*C) to its varied customers from dairy, poultry to
pharmaceuticals sector, SLL is well poised to ride the cold chain growth
opportunity in India. The total industry size of temperature controlled
logistics (TCL) is in the range of | 12000-15000 crore in 2012 and is
expected to grow at 15-20% over the next three to five years to | 20,000-
25000 crore. In terms of volume, the total capacity of the TCL industry
is~30 million tonnes (MT) with 7000-8000 reefer vehicles. With nearly
10% market share of the organised TCL market in terms of revenue, SLL
is a major player in the segment providing complete logistical support.
Further, SLL witnessed significant revenue growth of 45% CAGR over
FY10-14 whereas EBITDA and PAT posted a CAGR of 63% and 53% over
the same period. Going ahead, given the nascent industry and niche
market that SLL is catering to, together with transition from unorganised
to organised, we believe revenue will grow at a CAGR of 29% over FY14-
17E whereas EBITDA and PAT are anticipated to grow at 32% and 21%,
respectively, over the same period.
Investment rationale
Strong player in a nascent industry
SLL with its pan-India presence and domain expertise in the high-end TCL
industry is in a sweet spot to cater to wide range of customers. With the
organised industry poised to grow at 20% CAGR over the next three to
four years, revenue growth and, by virtue of operating leverage, earnings
growth is expected to be highly pronounced.
Established client base
SLL’s ability to cater to a wide range of customers along with its latest
technology and ability to attract competing brands in the competitive
FMCG segment makes SLL a critical player in the supply chain.
Opportunity makes valuation attractive
At the IPO price band of | 44-47, SLL is trading at 33-35xs FY14 diluted
EPS of | 1.35. However, given the current embryonic industry size and
possibility of a shift from the unorganised to organised segment, we
believe, earnings CAGR of 21% over FY14-17E make valuations attractive
for SLL. Consequently, we recommend SUBSCRIBE to the IPO



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Grey Market Premium for Snowman Logistics (Open today) : INVEST and PROFIT

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GREY MARKET PREMIUM: Rs 26 (Ahmedabad)

Snowman Logistic - IPO strategy
Price Range Rs 44 to Rs 47
Grey market price : Rs  73
Rs 25-26 grey market premium (Ahmadabad)

Retail allocation: 10%
Expected retail oversubscription-  over 22x

Apply for minimum lot 300 shares for Rs 14,100. (This will maximize chance of getting allotment as per new SEBI IPO rules)


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Subscribe to Snowman Logistics IPO: Sharekhan

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Sharekhan's report on Snowman Logistics (SLL) IPO
"Snowman Logistics (SLL) is coming out with an initial public offering (IPO) of 4.2 crore equity shares of face value of Rs10 each. Post-issue, the shareholding of the promoters in the company will fall to 40.4% from the current holding of 54.0%. The issue is priced at Rs44-47 per share and the company intends to raise Rs197 crore at the upper price band. The company plans to use the proceeds to set up new temperature-controlled and ambient warehouses and meet its long-term working capital requirement."
"The size of the Indian temperature-controlled (storage and transportation) logistic industry is estimated at Rs12,000- 15,000 crore and the industry is expected to grow at 15- 20% per annum over the next five years. SLL is set to reap the benefits of this growth as it is the largest player with a capacity of 63,000 pellets (way ahead of the competition with the second largest player having a capacity of around 5,000 pellets). SLL has reputed investors like Norwest Venture Partners, Mitsubishi Corporation and International Finance Corporation, and none of the investors is divesting in the public issue."


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Snowman IPO open NOW: ASBA form, Prospectus and other links

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SNOWMAN LOGISTICS LIMITED
*Non-Retail investors i.e. QIB and Non-Institutional Investors Bidding for more than 2 lac shall mandatorily use ASBA facility
SymbolSNOWMAN
Issue Period26-AUG-2014 to 28-AUG-2014
Post issue Modification Period30-Aug-14
Issue SizePublic Issue of 42,000,000 Equity Shares .(including Anchor Portion of 94,50,000 equity shares)
Issue Type100% Book Building
Price RangeRs 44 to Rs 47
Face ValueRs 10
Tick Size1
Market Lot300 Equity Shares
Minimum Order Quantity300 Equity Shares
IPO GradingCRISIL IPO Grade 4/5
Rating AgencyCRISIL LIMITED
Maximum Subscription Amount for Retail Investor200000
IPO Market Timings10.00 a.m. to 5.00 p.m.
Book Running Lead ManagerHDFC Bank Ltd
Syndicate MemberHDFC Securities Limited
CategoriesFI, IC, MF, FII, OTH, CO, IND & NOH
No. of Cities with Bidding Centers40
Name of the RegistrarLINK INTIME INDIA PRIVATE LIMITED
Address of the RegistrarC 13, Pannalal Silk Mills Compound, LBS Marg, Bhandup (West), Mumbai 400 078
Contact person name number and Email idMr. Sachin Achar, +91 22 2596 7878, sll.ipo@linkintime.co.in
Grading ReportClick Here
ProspectusClick Here
Sample Application FormsClick Here
ASBA e-form linke-Forms
Branches of Self Certified Syndicate Banks (SCSBs) where syndicate / sub syndicate member to submit ASBA formClick Here
Anchor Allocation ReportClick Here


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