Monday, 2 April 2018

Sixth Sense India Opportunities II subscribed to 100% of Anchor Investment Portion of the AVG Logistics

Chennai 29th March, 2018: Sixth Sense India Opportunities II, promoted by Mr.Nikhil Vora has fully subscribed to Anchor Investment Portion of the SME IPO of AVG Logistics Ltd. The fund has invested Rs. 9.41 crore, which accounts for 100% of the Anchor Investment Portion and 28.47% of the total issue size.
The Company is proposing to issue 30.90 Lakhs Equity Shares at price band of Rs. 105-107 per equity share with a minimum lot size is of 1,200 equity shares. The objects of the issue are for setting up warehousing facilities at Agartala&Mysuru and for working capital requirements.
The Companyis primarily into logistics and warehousing services. The Company has owned a fleet inclusive of 264 tucks, reefer containers, bulkers etc. and has 3.54 Lakh sq.ft. of warehousing space. In logistics segment, the Company provides point-to-point, less than/full truck load, time definite transportation services. In warehousing segment, the Company provides warehousing, distribution, and other value added services including temperature controlled logistics providing cold chain warehousing, transportation solutions and distribution of perishable goods and products.
Net revenues increased toRs 194.7 Crore in FY17 as against Rs 192.2 crore in FY16. Top 5 clients include from the various industries such as FMCG, Auto, Pipe, Consumer Durables etc. During 6MFY18, the revenues stood at Rs 103.4 crore. Revenues of the Company have grown at a CAGR of 14% over FY14 to FY17.EBITDA margin improved to 8.5% in FY17 from 8.3% in FY16. The margin further improved to 10% in 6MFY18. Profit after Tax (PAT) increased by 15.8% to Rs 4.4 crore in FY17. For 9MFY18, PAT stood at Rs 3.5 crore.
Commenting on the occasion, Mr. Sanjay Gupta, Managing Director& CEO, said that, “We are delighted to tap the market through SME IPO route, this will give us required growth capital to grow at better rates in the coming years to increase the volume of the business we are currently doing.
We have extensive network of 49 branches across 23 states and we are planning to expand its networks in more cities and also wants to add own fleet of vehicles and warehousing space to cater to more number of customers and routes.”

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