Capitalmind
Capitalmind
Actionable insights on equities, fixed-income, macros and personal finance Start 14-Days Free Trial
Actionable investing insights Get Free Trial
Stocks

International Finance Corporation cuts stake in Snowman Logistics to 7.19%

Snowman-Logistics-Logo.png

Snowman Logistics Logo

Snowman is the leading integrated temperature controlled logistics service provider operating across locations servicing customers on a pan-India basis. The company has set-up temperature controlled warehouses adjacent to cities with a large potential for sourcing and/or consumption of temperature sensitive products including the larger cities such as Mumbai, Chennai, Bengaluru and Kolkata.

The distribution network comprises primary and secondary transportation supplying, amongst others, to QSRs, retail outlets, restaurants and hotels within a city.

Gateway Distriparks Limited is the promoter and the largest shareholder. Snowman’s investor profile also includes Mitsubishi Corporation, Mitsubishi Logistics Corporation, International Finance Corporation and Norwest Venture Partners VII-A Mauritius.

logo_ifc

International Finance Corporation (a member of the World Bank Group, IFC is the largest global development institution focused exclusively on the private sector in developing countries) which held 15,427,500 shares representing 9.23% of the shareholding, reduced its stake by 3,414,414 shares or 2.04%.

With this it’s reduced holding stands at 12,013,086 shares representing 7.19% of the shareholding.

divider

Disclaimer

Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.