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Shree Shubham Logistics Ltd, a subsidiary of Kalpataru Power Transmission Ltd, has filed a draft red herring prospectus with market regulator Securities and Exchange Board of India (SEBI) for an initial public offering.
The issue comprises a fresh issue of equity shares, aggregating up to ₹210 crore, and an offer for sale of up to 70.07 lakh equity shares by Tano India Pvt Equity Fund II.
The offer includes a reservation of one lakh equity shares for eligible employees.
The shares, whose face value is ₹10, will be listed on BSE and NSE.
The offer is subject to receipt of requisite regulatory approvals, market conditions and other considerations, the company said in the statement.
Shree Shubham Logistics is promoted by Kalpataru Power Transmission Ltd, Aditya Bafna and Shubhendra Kumar Bafna.
Citigroup Global Markets India, Inga Capital and IDFC Securities are the book running lead managers of the IPO.
Net profit
Kalpataru reported a consolidated net profit of ₹40.99 crore for the quarter ended December 2014 and a revenue of ₹1,147.13 crore. For the financial year ended March 2014, its net profit stood at ₹146.38 crore on a revenue of ₹4,055.25 crore. On Friday, shares of Kalpataru Power ended up 1.26 per cent at ₹240.35 on NSE.
After the success of the Snowman Logistics (of Gateway Distriparks) IPO, logistics firms are queuing up to raise funds through capital markets.
Karnataka-based VRL Logistics also filed draft paper with SEBI for an IPO.
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