Snowman Logistics is raising $6.5Mn long term debt from IFC for expanding it's storage facilities across the country.
Snowman Logistics has outlayed a capex plan of about $28Mn for expanding it's storage facilities in various locations across India.
Bangalore based Snowman initially promoted by Amalgam group in 1997. Subsequently, three Japanese companies viz. Mitsubishi Corporation, Mitsubishi Logistics Corporation and Nichirei Logistics Group acquired a significant stake in Snowman.
In November 2006, Gateway Distriparks acquired a majority stake in Snowman. Today, GDL has the management control and the Sponsor and holds 53% stake in Snowman. The other major shareholders - Mitsubishi Corporation, Mitsubishi Logistics Corporation and Nichirei Logistics Group together hold approx 26% of Snowman.
IFC, which invested about $5Mn in the companyin 2010 also holds 19.9% stake in the company.
Snowman offers temperature controlled transportation services for both long distance transportation and for regional distribution to individual retail hubs, with its fleet of over 109 reefer vehicles.It has an aggregate capacity of over 18,000 pallets spread over 16 locations. It has temperature controlled storage infrastructure is spread across 16 locations including Delhi, Mumbai, Bangalore, and Chennai.
| |
5330
4332
1245
4602
1174
|
|
25075
42
4144
37794
5570
|
|
2132
567
4846
38742
181
|
|
33758 |
|
