Pristine Logistics & Infraprojects files IPO papers with Sebi

Prime Logistics & Infraprojects Ltd has filed preliminary papers with the capital markets regulator Sebi for an initial public offering (IPO). Shares worth Rs 250 crore will be issued in the initial share sale and 20,066,269 equity shares will be offered for sale by promoters and existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. It is possible that the company will consider a pre-IPO placement of up to Rs 50 crore in equity shares. The size of the fresh issue will be reduced if such a placement is conducted.

The proceeds from fresh issuance will be used to repay debt and for general corporate purposes.

A logistics infrastructure and services company focused on rail transportation networks, Primate provides logistics infrastructure and services. The company also provides logistics infrastructure and services across a wide range of categories, including non-container, container, rail and road transportation.

Additionally, the company offers integrated logistics solutions by providing warehousing, storage, and cargo handling, rail transportation, road transportation, and third-party logistics (3PL) services, and identifies these services as its key revenue streams.

ICICI Securities, JM Financial and HSBC Securities and Capital Markets (India) Private Limited are the book running lead managers to the issue.

(With Inputs from PTI)