Cold Chain Firms In India Looking For Investors, Offering IPO

Gati Ltd. is looking for a strategic partner or investor for its cold chain business, while Karnimata Cold Storage is planning to go public on BSE SME platform.

According to a stock exchange disclosure late last week the logistics firm Gati Ltd.  is looking for a strategic partner or a financial investor for its cold chain business, Gati Kausar. Gati Kausar, one of the largest refrigerated trucking networks in India, is involved in cold chain transportation across the healthcare, meat and poultry, bio-pharma, frozen and fresh produce, dairy products, organized retail and quick service restaurant markets.

Previously known as Kausar India Ltd, the firm was renamed as Gati Kausar India Ltd. last year recently added 65 refrigerated vehicles to the existing fleet of 215 vehicles for its full truck load services for long haul transportation and services from distribution centers or cold storage facilities across India.

Another cold chain business in India, West Bengal-based Karnimata Cold Storage also recently announced plans to go public on BSE SME platform. Incorporated in 2011, Karnimata is engaged in the business of cold storage and trading of agricultural commodities currently specializing in potatoes. Its first cold storage unit is operated in Medinipur district with an installed capacity of 1,81,000 quintals for preservation of potatoes.

Aryaman Financial Services has been given mandate for the issue which constitutes 25 percent of the post paid-up capital of the company. The company intends to use the funds to augment its capital base for providing seasonal loans to farmers and traders.

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