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Pristine Logistics & Infraprojects Files DRHP Papers With SEBI For IPO

The initial share-sale comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale of 20,066,269 equity shares by promoters and existing shareholders

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Initial Public Offerings.

New Delhi, May 11 (PTI) Pristine Logistics & Infraprojects Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The initial share-sale comprises fresh issuance of equity shares worth Rs 250 crore and an offer for sale of 20,066,269 equity shares by promoters and existing shareholders, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday.

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. 

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