Pristine Logistics & Infraprojects Limited, based in Delhi has filed its Draft Red Herring Prospectus (DRHP). With the markets regulator, the Securities and Exchange Board of India (SEBI), in order to acquire funds through an initial public offering (IPO).
According to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. Moreover, the initial share-sale will include a fresh issuance of equity shares worth Rs 250 crore and an offer for sale of 20,066,269 equity shares by promoters and current shareholders.
The company may pursue a pre-IPO offering of up to Rs 50 crore in equity shares. The size of the new issue will be lowered if this placement is done.
Fresh issuance proceeds will be utilised to repay debt and for general company purposes.
Pristine Logistics & Infraprojects Limited move to IPO
The logistical infrastructure and services provided by Pristine are centred on rail transportation networks. It also provides integrated logistical infrastructure and services across the board, including non-container, container, rail, and road transportation.
It also assists in areas such as integrated logistics solutions. By providing services such as warehousing, storage. And cargo handling, rail transportation, road transportation. And third-party logistics (3PL) and identifying these services as the company’s major revenue sources.
The start of the Birgunj and Siliguri terminals, which resulted in a rise in handling and transportation services, raised Pristine Logistics’ revenue from operations by 18.68 percent from Rs 469.27 crore in Fiscal 2020 to Rs 556.93 crore in Fiscal 2021. For the nine months ending in December 2021, revenue was Rs 494.75 crore.
The book running lead managers are ICICI Securities Limited. Also, HSBC Securities and Capital Markets (India) Private Limited. And JM Financial Limited, while the registrar is Link Intime India Private Limited.
The equity shares will be listed on the BSE and NSE.