Pristine Logistics & Infraprojects plans IPO

News: Pristine Logistics & Infraprojects is planning an initial public offering to raise up to Rs.1200 crore. The IPO would comprise a fresh issue and an offer for sale from the existing investors. Recently, Pristine secured approval from lenders to acquire Sical Logistics.

Views: The company started its journey in 2009 and currently has five operating terminals in Ludhiana, Kanpur, Patna, Birganj (Nepal) and Siliguri with approximately 35 rakes, and around 2800 containers. Sical's acquisition will help Pristine strengthen its presence in south India with container freight stations in Chennai, Tuticorin and Visakhapatnam capable of servicing nearly 1.5 lakh TEUs.

Impact: Neutral