New Delhi based, integrated food supply chain ColdEX Limited (“ColdEX” or “the Company”) proposes a public issue of equity shares through 100% book building process and has filed Draft Red Herring Prospectus (DRHP) with SEBI.
ColdEX commenced its business in 1999. The Company is into integrated temperature-controlled food supply chain and distribution to MNCs like Burger King, Sapphire Foods (franchisee of Yum Restaurants of KFC), Connaught Plaza Restaurants, Yum Restaurants (Taco Bell), Wendy’s, Carl’s Jr., Barcelos, Pita-pit, Belgian Fries, etc. Company operates a flagship built-to-suit temperature-controlled warehouse with a capacity of 3,500 pallets at Kundli (Delhi NCR).
The business of the Company is categorised into two segments viz. integrated distribution (outsourced end to end supply chain management) and fulfilment services (elements of supply chain).
The consolidated revenue from operations of the Company and its subsidiaries was Rs.83.5 cr, Rs.256.38 cr, Rs.225.66 cr and Rs.157.55 cr for the three months ended June 30, 2018 and fiscals 2018, 2017 and 2016 respectively, representing a CAGR of 27.56% during the last three fiscals.
- ColdEX is India’s largest organized integrated food supply chain and distribution company
- Caters to leading QSRs such as Burger King, McDonalds, Sapphire Foods (franchisee of Yum Restaurants of KFC) etc.
- Has PAN-India Distribution network with large fleet base and warehousing capabilities
- Offering of up to 26,66,408 Equity Shares comprising Fresh Issue of up to 10,10,000 Equity Shares and Offer for Sale of up to 16,56,408 Equity Shares.
The group has received various industry accolades, awards and recognitions over the years as well as recognition from its customers, including
- Partner of the Year Award from Burger King (2018)
- Franchisee India – Supplier of the Year (2017)
- Collaborative Partner of the Year Award from Yum (2016)
- ICC Supply Chain and Logistics Excellence Award – Integrated Cold Chain Operator (2016)
- CII – Scale Supply Chain Award (2016)
- Logistic Excellence Award – GlaxoSmithKline Consumer Healthcare, India (2013)
- Best Service Level Certificate Award from Cadbury (2012).
ColdEX is promoted by its Managing Director Mr Gaurav Jain who is MBA by qualification and is a first- generation entrepreneur with experience of more than two decades in logistics industry. He has been recognized by various prestigious forums including the Forbes India Leadership Awards for his contributions to India’s logistics industry. He has also been chosen as an Extraordinaire Brand by Consumers and Industry in Brand vision Sumit 2017-2018. He has also been conferred the title of “Logistics Innovator of the Year” by CILT India in April, 2012.
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The Company has filed its DRHP for the proposed Initial Public Offering of up to 2,666,408 equity shares of face value of Rs. 10 each (“Equity Shares”) comprising fresh issue of up to 1,010,000 equity shares and an offer for sale up to 1,656,408 equity shares of at least 75 percent of the Net Offer shall be allotted QIB bidders on proportionate basis.
The Company proposes to utilize the Net Proceeds raised through the Fresh Issue for: (i) Investment in IT Infrastructure (Rs. 79.98 million); (ii) Funding the working capital requirements of its subsidiary Coldex Logistics Private Limited (Rs. 200 million); (iii) Acquisitions and other strategic initiatives (Rs. 150 million); and (iv) General corporate purposes.
Pantomath Capital Advisors Private Limited is the sole Book Running Lead Manager to the IPO.
The Company was advised by the legal counsel, Messrs. Kanga and Company, Advocates and Solicitors.
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