Snowman Logistics owns 293 refrigerated vehicles, or reefers, and 31 temperature-controlled warehouses at 15 locations across the country. Did Patanjali get 60,000 hectare Ruchi Soya land overseas for nothing? Adani Logistics Ltd, a part of the diversified Adani group, has sold almost a fourth of its stake in Snowman Logistics Ltd. Adani Logistics had acquired the stake through an open offer it had initiated in March at 44 apiece in a failed attempt to take promoter stake in Snowman. Snowman Logistics Ltd. () Stock Market info Recommendations: Buy or sell Snowman Logistics stock? This comes despite 87% of Gatis shareholders voting in favour of the open offer on 8 January. Last December, Adani Logistics said it has signed a definitive agreement to acquire 40.25 percent stake in Snowman Logistics from Gateway Distriparks for Rs 296 crore. Snowman Logistics Ltd., which is being acquired by billionaire Gautam Adani's logistics arm Adani Logistics, on Friday announced the opening of the open offer from Feb. 18. open offer for acquisition of up to 4,34,42,879 fully paid up equity shares of face value of inr 10 each, representing 26.00% of the voting share capital (as defined below) of snowman logistics limited (target company") from all the public shareholders (as defined below) of the Snowman Logistics, Tiverton, Devon, United Kingdom. Adani Logistics is a wholly owned subsidiary of Adani Ports and SEZ Ltd (APSEZ). Adani Logistics sold nearly 12.7 million shares or a. Mumbai: Snowman Logistics, which is being acquired by billionaire Gautam Adani's logistics arm Adani Logistics, on Friday announced the opening of the open offer from February 18. Snowman Logistics, which is being acquired by billionaire Gautam Adanis logistics arm Adani Logistics, on Friday announced the opening of the open offer from February 18. It will then make an open offer to Snowmans public shareholders for as much as 26% more, [] The open offer for additional 26 percent stake of over 4.34 crore equity shares at Rs 44 a share, will close on March 4, Snowman said in an exchange filing. We are the leading integrated temperature-controlled logistics service provider operating on pan-India basis. The S&P BSE Sensex, jumped 689.19 points or 1.43% at 48,782.51. As notified to the stock exchanges on April 1, 2020, Adani Logistics Ltd (ALL) currently holds 26 per cent of the total voting equity share capital of Snowman, pursuant to an open offer Snowman - India's Largest Cold Chain Logistics Company. Will I continue to hold my shares after the open offer expires? The open offer for additional 26 percent stake of over 4.34 crore equity shares at Rs 44 a share, will close on March 4, Snowman said in an exchange filing. Snowman Logistics are same day couriers, specialising in urgent deliveries. Gateway Distriparks Ltd, which runs various logistics businesses, is the promoter of Snowman Logistics.Adani Logistics Ltd in December had struck a deal to acquire the 40.25% promoter stake in Snowman Logistics Ltd, along with an open offer to acquire another 26% from public shareholders. Snowman Logistics Ltd., which is being acquired by billionaire Gautam Adani's logistics arm Adani Logistics, on Friday announced the opening of the open offer from Feb. 18. As part of the transaction, Adani Logistics had to make a mandatory open offer for a 26% public shareholding in Snowman. Adani Logistics which held 26% stake in the cold-storage operator as on 30 September sold 14.79% or 2.47 crore shares between 27 November and 24 December. Snowman Logistics Ltd., which is being acquired by billionaire Gautam Adani's logistics arm Adani Logistics, on Friday announced the opening of the open offer from Feb. 18. We combine Bloombergs global leadership in business and financial news and data, with Quintillion Medias deep expertise in the Indian market and digital news delivery, to provide high quality business news, insights and trends for Indias sophisticated audiences. snowman logistics limited open offer for acquisition of up to 4,34,42,879 fully paid up equity shares of face value of inr 10 each, representing 26.00% of the voting share capital (as defined below) of snowman logistics limited (target company) from all the public shareholders (as defined below) of the Adani Logistics Ltd, a part of the diversified Adani group, has sold almost a fourth of its stake in Snowman Logistics Ltd. Adani Logistics had acquired the stake through an open offer it had initiated in March at 44 apiece in a failed attempt to take promoter stake in Snowman. Copyright 2021 Bennett, Coleman & Co. Ltd. All rights reserved. Adani Logistics Ltd, a unit of Adani Ports, struck a deal last December to buy a 40.25% promoter stake in Snowman, along with an open offer to take another 26% from public shareholders Tomorrow is different. (Source: The companys official Twitter page), Missing BloombergQuint's WhatsApp service? Adani Logistics, a subsidiary of Adani Ports and SEZ, will acquire a majority stake in Indias largest cold chain logistics provider Snowman Logistics. The company will first acquire a 40.25% stake from Gateway Distriparks for about 296 crores. It has a total warehousing capacity of 1,04,343 pallets. Shares of Snowman Logistics on Friday closed 0.35 percent down at Rs 42.50 apiece on the BSE, compared with the benchmark index's overall gain of 0.36 percent. As notified to the stock exchanges on April 1, 2020, Adani Logistics Ltd (ALL) currently holds 26 per cent of the total voting equity share capital of Snowman, pursuant to an open offer What will happen to them? Adani Logistics will make a mandatory open offer at Rs 44 apiece under SEBIs takeover norms for a maximum 26 percent of the public shareholding in the Snowman, according to a separate filing. Join our. I have shares in the Snowman Logistics company. Adani Logistics has almost exited its stake in Snowman Logistics which it had acquired through open offer in March. APSEZ acquired the stake from Snowman Logistics parent company Gateway Distriparks at Prepping for a test: Did Jeff Bezos push Byju Raveendran to hurry the billion-dollar Aakash buy? Home - Snowman. The acquisition, subject to customary condition precedents, is Snowman Logistics Limited Share Price Today, Live NSE Stock Price: Get the latest Snowman Logistics Limited news, company updates, quotes, offers, annual financial reports, graph, volumes, 52 week high low, buy sell tips, balance sheet, historical charts, market performance, capitalisation, dividends, volume, profit and loss account, research, results and more details at NSE India. Bloomberg | Quint is a multiplatform, Indian business and financial news company. Adani Logistics has almost exited its stake in Snowman Logistics which it had acquired through open offer in March. Download < Back: 28 Dec 2019 Public Announcement dated December 77, 2019 issued by Adani Logistics Ltd (the Acquirer) together with Adani Ports and Special Cconomic Zone Ltd ( PAC") in relation to an open offer to the public shareholders of Snowman Logistics Ltd (The Target Company) <BR> With reference to the above captioned subject, please find attached The open offer was triggered after the Adani group, in Adani Logistics was to make a mandatory open offer for a maximum 26 per cent of the public shareholding in Snowman Logistics. On Tuesday, the Adani Group company sold 80.05 lakh shares through open market at Rs 61.67 per share. Adani Logistics will also make an open offer for a maximum of 26% of the public shareholding in the company as per the Substantial Acquisition of Shares and Takeover Guidelines, 2011. There is also an open offer to buy 26% more stake in the company? This will alert our moderators to take action. Adani Logistics had acquired the stake through an open offer it had initiated in March at 44 apiece in a failed attempt to take promoter stake in Snowman.
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