Group plans to expand operations in ASEAN & African Regions
New Delhi, 24th June 2016: Sohanlal Commodity Management Pvt. Ltd.(SLCM), an agri-logistics company plans to come with a Rs 500 cr initial public offer (IPO) which may allow an exit for the private equity (PE) investors in the company.
The company handles over 400 commodities including Cotton,Barley,Bajra, Castor Seeds, Wheat, Pulses, Maize, Spices, Aloe Vera, etc., across pan India and is a one-stop solution in providing warehousing services such as Scientific Storage for agricultural commodities, handling day-to-day operations, Fumigation, Testing and Certification and Funding against Storage Receipts. The services are provided to Farmers, Processors, Traders, Commodity Exchanges and the Government.
The company manages its network and operations leveraging 1,300 warehouses. The company intends to use the funds to expand abroad and the IPO may also provide early investors an exit opportunity. The IPO may hit markets within next 12-14 months subject to regulatory clearances.
SLCM is a Delhi based company managing a total capacity of over 3.3 million metric tonnes spread over 18.5 million square feet area. The company will be eyeing on the increased agri-production and changes in government policies which will facilitate growth for the company.