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.
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.
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