<article><a href="https://www.dealstreetasia.com/?s=Asia Climate Partners" target="_blank" rel="noopener">Asia Climate Partners</a>-backed <a href="https://www.dealstreetasia.com/?s=ColdEX Ltd" target="_blank" rel="noopener">ColdEX Ltd</a>, an integrated food supply chain and distribution company, has filed draft papers with the Indian capital markets regulator to launch an initial public offering (IPO).</article>

<a href="https://www.dealstreetasia.com/?s=Asia Climate Partners" target="_blank" rel="noopener">Asia Climate Partners</a>-backed <a href="https://www.dealstreetasia.com/?s=ColdEX Ltd" target="_blank" rel="noopener">ColdEX Ltd</a>, an integrated food supply chain and distribution company, has filed draft papers with the Indian capital markets regulator to launch an initial public offering (IPO).
The IPO will comprise a fresh issue of up to 10,10,000 equity shares and an offer-for-sale of up to 16,56,408 equity stocks by SABR India Investment Pvt Ltd, according to the draft papers filed with Securities and Exchange Board of India (SEBI). Pricing of the issue has not been revealed yet.
Asia Climate Partners, an investment vehicle backed by the Asian Development Bank (ADB), Orix Corp, and Robeco Institutional Asset Management, is expected to make a partial exit in the IPO, an AVCJ <a href="https://www.avcj.com/avcj/news/3012829/indias-pe-backed-coldex-files-for-ipo">report</a> said. The private equity fund had reportedly bought a stake in ColdEX in 2016. At that time, it bought some of the shares from India Equity Partners, which invested in ColdEX in December 2010.
ColdEX will use the net IPO proceeds for investment in IT Infrastructure, to fund working capital needs of its subsidiary Coldex Logistics, for acquisitions and other strategic initiatives, and general corporate purposes, the draft said.
Pantomath Capital Advisors is the book running lead manager to the issue.
Set up in 1999, ColdEX is an integrated food supply chain and distribution company offering logistics and warehousing, transportation and distribution services to a wide range of industry sectors and business segments including food service market, FMCG, confectionery, dairy, retail, among others.
As of June 30, 2018, the company&#8217;s network comprised five temperature-controlled warehouses located at Kundli I, Navi Mumbai, Bengaluru, Hyderabad and Kundli-II capable of warehousing more than 7,000 pallets. It operates through 12 locations and warehouses spread across 10 cities in India.
For the fiscal year 2017-18, the company&#8217;s revenue stood at Rs256.38 crore.
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ColdEX will use the net IPO proceeds for investment in IT Infrastructure, to fund the working capital requirements of its subsidiary Coldex Logistics, for acquisitions and other strategic initiatives.

India: Asia Climate Partners-backed supply chain firm ColdEX files draft IPO papers

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India: Asia Climate Partners-backed supply chain firm ColdEX files draft IPO papers

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