{"id":70853,"date":"2018-03-31T17:05:43","date_gmt":"2018-03-31T17:05:43","guid":{"rendered":"http:\/\/www.bnreport.com\/sixth-sense-ventures-anchor-investor-in-avg-logistics-ipo\/"},"modified":"2018-03-31T17:05:43","modified_gmt":"2018-03-31T17:05:43","slug":"sixth-sense-ventures-anchor-investor-in-avg-logistics-ipo","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/sixth-sense-ventures-anchor-investor-in-avg-logistics-ipo\/","title":{"rendered":"Sixth Sense Ventures anchor investor in AVG Logistics’ IPO"},"content":{"rendered":"

Sixth Sense India Opportunities II, promoted by former IDFC Securities equity analyst Nikhil Vora, has fully subscribed to the anchor portion of the SME IPO<\/a> of AVG Logistics. The fund has invested Rs 9.41 crore, which accounts for the entire anchor investment portion and 28.47 % of the total issue size. <\/p>\n

The fund picked up 8,79,600 shares<\/a> \u2014 or an 11 per cent stake \u2014 in AVG Logistics at Rs 107 a piece, according to a stock-exchange filing. <\/p>\n

The logistics company is listing its shares on NSE<\/a> Emerge, the stock exchanges platform for small and medium enterprises. The offer opened on Wednesday and closes on 3 April. The company is proposing to issue 30.90 lakh equity shares and has set a price band of Rs 105-107 per share with a minimum lot size is of 1,200 equity shares. The issue closes on April 3. Systematix Corporate Services<\/a> is the Book Running Lead Manager. <\/p>\n

Delhi-based AVG Logistics, which offers transportation, warehousing and value-added services to leading multinationals and Indian corporates, plans to use the funds raised to set up new warehousing facilities at Agartala and Mysuru and for working capital requirements. <\/p>\n

The company owns 264 vehicles including trucks, reefer containers, bulkers and has 3.54 lakh square feet (sq.ft.) of warehousing space. It registered marginal increase in revenues at Rs 195 crore in FY17 against Rs 192 crore logged in FY16. In the first six months of FY18, its revenue was at Rs 103 crore. <\/p>\n

Sanjay<\/a> Gupta, managing director & CEO, said the company has an extensive network of 49 branches across 23 states and plans to expand its networks in more cities, besides adding own fleet of vehicles and warehousing space to cater to more number of customers and routes. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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Sixth Sense India Opportunities II, promoted by former IDFC ..<\/p>\n","protected":false},"author":1,"featured_media":70854,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-70853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nSixth Sense Ventures anchor investor in AVG Logistics' IPO - Business News Report<\/title>\n<meta name=\"description\" content=\"Sixth Sense India Opportunities II, promoted by former IDFC ..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/sixth-sense-ventures-anchor-investor-in-avg-logistics-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sixth Sense Ventures anchor investor in AVG Logistics' IPO - 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