Pristine Logistics & Infraprojects Ltd has filed preliminary papers with capital markets regulator Sebi to boost funds by means of an preliminary public providing (IPO).
The preliminary share-sale includes recent issuance of fairness shares value Rs 250 crore and a suggestion on the market of 20,066,269 fairness shares by promoters and present shareholders, in response to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.
The firm could take into account a pre-IPO placement of fairness shares aggregating as much as Rs 50 crore. If such placement is undertaken, the dimensions of the recent concern will likely be decreased.
Proceeds from recent issuance will likely be used to repay debt and for normal company functions.
Pristine supplies logistics infrastructure and companies, pivoted round rail transportation networks. It additionally affords synergetic logistics infrastructure and companies throughout the spectrum, together with non-container, container, rail transportation and street transportation companies.
It additionally helps in areas like built-in logistics options by providing, warehousing, storage and cargo dealing with, rail transportation, street transportation, and third-party logistics (3PL) companies and determine these companies as the corporate’s key income streams.
ICICI Securities, JM Financial and HSBC Securities and Capital Markets (India) Private Limited are the e book operating lead managers to the difficulty.
Source: www.financialexpress.com”