Public issue of Gateway Distriparks arm on radar

Shares of Gateway Distriparks will remain active on the bourses as Snowman Logistics, subsidiary of the company, will launch an initial public offering of 42 lakh shares with face value of ₹10 each on August 26. Snowman plans to use the ₹128 crore that could be raised from the share sale towards capital expenditure to set up new temperature-controlled and ambient warehouses. Gateway Distriparks currently holds 54.04 per cent stake in Snowman Logistics.