CJ Darcl Logistics Limited, a diversified logistics company, has filed its draft red herring prospectus with market regulator Securities and Exchange Board of India. The offer comprises a fresh issue of shares worth ₹340 crore and offer for sale up to 54.31 lakh shares by existing shareholders.
The OFS comprises of 3.69 lakh shares by Krishan Kumar Agarwal, 2.03 lakh shares by Roshan Lal Agarwal, 2.31 lakh shares by Narender Kumar Agarwal (promoters); 5.78 lakh shares by Vineet Agarwal, 5.29 lakh shares by Sushma Agarwal, 4.47 lakh shares by Puneet Agarwal, 4.46 lakh shares by Samiha Agarwal, up to 4.25 lakh shares by Nitesh Agarwal and 3.36 lakh shares by Darshan Kumar & Sons (HUF); and 2.89 lakh shares by Tek Chand Agarwal (HUF) (other selling shareholder).
Use of funds
The company proposes to utilise net proceeds from fresh issue towards repayment/prepayment, in full or in part, of certain outstanding borrowings availed by company; funding capital expenditure requirements of company towards purchase of EVs; and general corporate purposes.
CJ Darcl Logistics Limited has over 36 years of operational experience and provide differentiated logistics solutions with its pan-India presence. In 2017, CJ Logistics, a diversified logistics company, headquartered in South Korea, acquired 50 per cent stake in Darcl Logistics Limited. In September 2017, the company was rechristened CJ Darcl Logistics Ltd.
ICICI Securities Limited, Axis Capital Limited & Mirae Asset Capital Markets (India) Private Limited are the Book Running Lead Managers to the issue.