Reliance Mutual Fund has picked 2.16% stake in Snowman Logistics, which witnessed stellar listing on the bourses on Friday. Snowman shares closed first trading session on the stock exchanges with a premium of 70% over the issue price.

Reliance MF has purchased 3.60 million shares of Snowman for Rs 285.76 million at an average price of Rs 79.38 a share. Meanwhile, Investments Derive has bought 2.37 million shares of the company for Rs 187 million at a price of Rs 78.90 a share.

On the other hand, Kotak Mahindra Bank has sold 0.93% stake in the company for Rs 122.79 million. It sold 1.54 million shares at a price of Rs 79.67 a share.

Snowman is an integrated temperature controlled logistics service provider.

Shares of the company settled at Rs 79.80, up Rs 32.80 or 69.79% from issue price of Rs 47.