| The Company was incorporated as Snowman Frozen Foods Limited on March 17, 1993 as a public limited company under the provisions of the Companies Act. The Company received a certificate of commencement of business on May 31, 1993 from the Registrar of Companies, Kerala. The Company was originally promoted by Amalgam Foods Limited. In 1997, Hindustan Unilever Limited (then, Brooke Bond (India) Limited) acquired 23% of the Company's equity share capital. In 2001, the Mitsubishi Group acquired a majority stake in our Company. Subsequently, in 2003, Nichirei Corporation acquired 15% of our Company's equity share capital which was thereafter assigned to Nichirei Logistics Group Inc. in 2005. In 2006, the Promoter acquired the majority stake in our Company by acquiring 6,861,000 shares held by Amalgam Foods Limited and by subscribing to fresh shares issued by our Company. Consequently, the Promoter held 33.34% of our Company's equity share capital.
In 2010, IFC acquired 20,570,000 equity shares of the Company. Subsequently, on March 17, 2011, the name of the Company was changed to Snowman Logistics Limited pursuant to a new certificate of incorporation. The change in name was to better capture the nature of the business of the Company. In 2013, NVP acquired 17,142,857 shares of the Company. Recently, on August 2, 2014, the Promoter acquired 5,142,500 of the shares held by IFC and on March 11, 2014, the Promoter acquired 7,400,000 shares from Nichirei and at present holds 54.04% share capital of the Company.
The table below sets forth the key events in the history of the Company:
Year
1997 - Brooke Bond (India) Limited acquires a 23% stake
1998 - Operations commence in 10 temperature controlled warehouses across India
2001 - Mitsubishi Corporation and Mitsubishi Logistics Corporation jointly acquire a majority stake
2004 - Nichirei Logistics Group Inc. (Japan), acquires a 15% stake
2006 - GDL acquires majority stake by acquiring 6,861,000 equity shares from Amalgam Foods Limited's and by subscribing to fresh shares
2008 - Our temperature controlled warehouses get ISO 22000 (Food Safety Policy) certification
2009 - Implementation of a new enterprise resource planning system
2010 - IFC acquires a 20% stake - Certain temperature controlled warehouses received ISO 14001 (Environmental Safety Policy) certification
2011 - Expansion of our operations in major cities such as Mumbai, Bengaluru and Chennai - Set up our Mevalurkuppam, (near Chennai) and Bengaluru warehouses.
2012 Set up our Taloja (near Mumbai) warehouse.
2013
- Snowman Logistics Ltd. (Snowman) has filed draft red herring prospectus (DRHP) with SEBI for a public issue of 4.2 crore equity shares.
- NVP acquired 14.28% stake - Set up our Chennai, Bengaluru, Visakhapatnam, Taloja (near Mumbai), Mulshi (near Pune) and Palwal (near Delhi) warehouses. - GDL acquires 5,142,500 shares in our Company from IFC
2014
- GDL acquires 7,400,000 shares in our Company from Nichirei Logistics Group Inc. to increase its stake to 54.06%
- The equity shares of Snowman Logistics Ltd (Scrip Code: 538635) are listed and admitted to dealings on the Exchange in the list of 'T' Group Securities.
2015
-Snowman Logistics Lt Commencement of operation - Chennai
-Snowman Logistics starts operations at new warehouse
-Snowman Logistics Ltd entered into a three year service agreement with international food services
-Snowman Logistics Lt -Commencement of operations - Bengaluru
2016
-The Company is setting up a new facility at the Gateway Distriparks Logistics Park in Krishnapatnam which will have a capacity of 3,500 pallets of temperature controlled and dry warehousing.
-Snowman Logistics construction work at its Jaipur warehouse has been fully completed and the facility can now be used for operations.
2017
-The company has completed the construction of the temperature controlled & dry warehouse located at Aroor Village, Cherthala, Alapuzha.
-The Company has signed a Memorandum of Understanding with The Government of Andhra Pradesh on January 28, 2017
2021
-Snowman Logistics starts new temperature controlled warehouse in Siliguri.
- Snowman also built an e-commerce backend for food and grocery in Mumbai.
2025 -The Company has announced the start of construction for a new temperature-controlled warehouse in Pune. -The Company has announced the completion and operational launch of two newly constructed, state-of-the-art owned warehouses in Kolkata and Krishnapatnam.
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