GIP-backed Pristine Logistics takes confidential route to IPO; picks Axis, CLSA, SBI as book managers

GIP-backed Pristine Logistics and Infraprojects Ltd has confidentially filed its DRHP with SEBI for an IPO, appointing Axis Capital, CLSA India, and SBI Capital Markets as book running lead managers. The Delhi-based rail-focused multimodal logistics company is expected to be valued at approximately Rs 5,000 crore (around $500 million), with parent Global Infrastructure Partners — acquired by BlackRock for $12.5 billion — holding a 57% stake. For FY25, Pristine posted revenue of Rs 1,426 crore (down 3% year-on-year) and profit of about Rs 19 crore (up 11% year-on-year), having previously abandoned an IPO attempt in May 2022.