The value of 1.54 crore shares held by International Finance Corporation (IFC) surged over 6-times to Rs 123.11 crore on Friday, while the market value of the 1.71 crore shares held by Norwest Venture Partners more than doubled on Friday.
According to the draft red-herring prospectus (DRHP) filed by the cold-chain player, IFC had bought 2.05 crore shares of the Bangalore-based company for a consideration of Rs 24.88 crore in March, 2010. The shares were issued to IFC at a price of Rs 12.10.
In August 2013, the promoters Gateway Distriparks acquired 51.42 lakh shares from IFC at Rs 35. The market value of the remaining 1.54 lakh shares stood at Rs 123.11 crore, or 559.75% higher than the original investment of Rs 24.88 crore at the end of Fridays trade. IFC currently holds 9.27% stake in the company.
Norwest Ventures Partners (NVP) which bought 1.71 crore shares of the Bangalore-based company for a consideration of Rs 60 crore, saw the value of its holdings rise to Rs 136.8 crore on Friday. NVP holds 10.30% stake in the company.
On Friday, Snowman Logistics saw a total of 1.04 crore shares traded on NSE and BSE.
The Snowman Logistics initial public offering (IPO) which closed on August 28 was subscribed 60 times. While 3.25 crore shares were on offer, the public issue received bids for 194 crore shares. The qualified institutional investors book was subscribed 16.98 times. The non-institutional investors book was subscribed 221.79 times, while the retail investors book was subscribed 41.26 times.