Pristine Logistics Infraprojects Ltd has filed preliminary paperwork with the Securities and Exchange Board of India (Sebi) to acquire funds through an initial public offering (IPO). The initial share-sale consists of a fresh issuance of equity shares for Rs 250 crore and a promoter and existing shareholder offer to sell 20,066,269 equity shares. The company may consider a pre-IPO placement of equity shares aggregating up to Rs 50 crore. If such placement is undertaken, the size of the fresh issue will be reduced.
Proceeds from fresh issuance will be used to repay debt and for general corporate purposes. Pristine provides logistics infrastructure and services, pivoted around rail transportation networks. It also offers synergetic logistics infrastructure and services across the spectrum, including non-container, container, rail transportation and road transportation services.
It also helps in areas like integrated logistics solutions by offering, warehousing, storage and cargo handling, rail transportation, road transportation, and third-party logistics (3PL) services and identifies these services as the company’s key revenue streams. ICICI Securities, JM Financial and HSBC Securities and Capital Markets (India) Private Limited are the books running lead managers to the issue.
