Snowman Logistics makes debuts on BSE; scrip surges over 40%

Snowman Logistics makes debuts on BSE; scrip surges over 40%
Snowman Logistics: Quotes, News
BSE 66.40BSE Quote0.4 (0.60%)
NSE 66.35NSE Quote0.35 (0.53%)
Logistics service provider Snowman Logistics on Friday said the equity shares of company are listed and admitted to dealings on the Bombay Stock Exchange in the list of 'T' group securities.

Boosted by better-than-expected response from investors, shares of company rallied as much as 40.31 per cent in early trade to Rs 78.75 apiece after getting listed at Rs 47 apiece on BSE.

The company has received overwhelming response from investors for its IPO last month. The issue was oversubscribed nearly 60 times, while the quota of retail investors got subscribed 41 times.

The firm, which raises nearly Rs 200 crore from its IPO, intended to use the proceeds from the public issue towards setting up new temperature controlled and ambient warehouses, long term working capital, and for general corporate purposes.

Read more about: ipo, snowmanlogistics
Story first published: Friday, September 12, 2014, 12:30 [IST]
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