The initial public offering of transport firm VRL Logistics has
received overwhelming response as the issue oversubscribed 74.26
times of the issue size on the final day on Friday. The public offer
received bids for 1,20,81,66,440 shares against the total issue size
of 1,62,69,006 shares, supported by QIBs and HNIs.
The initial public offering of transport firm VRL Logistics has received overwhelming
response as the issue oversubscribed 74.26 times of the issue size on the final day on
Friday. The public offer received bids for 1,20,81,66,440 shares against the total issue size
of 1,62,69,006 shares, supported by QIBs and HNIs. The qualified institutional buyers
(QIBs) category was subscribed 58.22 times and the non-institutional investors’ portion
received 250.86 times subscription. Retail investors’ category got subscribed 7.92 times.
The public issue consisted of a fresh issue of equity shares aggregating up to Rs 117 crore
and an offer for sale of up to 1,71,16,000 equity shares by NSR-PE Mauritius LLC and
promoters Vijay Sankeshwar & Anand Sankeshwar. The price band was Rs 195-205 per
share. The logistics company, on April 13, received Rs 140.36 crore by issuing 68.5 lakh
equity shares to 15 anchor investors like Franklin India Smaller Companies Fund, ICICI
Prudential, Eastspring Investments India Equity Fund, DSP Blackrock Small & Midcap Fund,
Birla Sun Life etc. The equity shares of the company are proposed to be listed on BSE and
the NSE. The global coordinators & book running lead managers to the issue were ICICI
Securities Limited and HSBC Securities and Capital Markets (India) Private Limited. The
logistics and parcel delivery service provider owned and operated the one of the largest fleet
of commercial vehicles in the private sector in India. Its operational infrastructure for the
goods transportation business as of December 31, 2014 comprised 624 branches
(comprising 604 leased branches and 20 owned branches) and 346 agencies across India.
As of December 31, 2014, the company’s goods transportation fleet included 3,546 owned
vehicles. The company also provides luxury bus services across the states of Karnataka,
Maharashtra, Goa, Andhra Pradesh, Telengana, Tamil Nadu, Gujarat and Rajasthan.
received overwhelming response as the issue oversubscribed 74.26
times of the issue size on the final day on Friday. The public offer
received bids for 1,20,81,66,440 shares against the total issue size
of 1,62,69,006 shares, supported by QIBs and HNIs.
The initial public offering of transport firm VRL Logistics has received overwhelming
response as the issue oversubscribed 74.26 times of the issue size on the final day on
Friday. The public offer received bids for 1,20,81,66,440 shares against the total issue size
of 1,62,69,006 shares, supported by QIBs and HNIs. The qualified institutional buyers
(QIBs) category was subscribed 58.22 times and the non-institutional investors’ portion
received 250.86 times subscription. Retail investors’ category got subscribed 7.92 times.
The public issue consisted of a fresh issue of equity shares aggregating up to Rs 117 crore
and an offer for sale of up to 1,71,16,000 equity shares by NSR-PE Mauritius LLC and
promoters Vijay Sankeshwar & Anand Sankeshwar. The price band was Rs 195-205 per
share. The logistics company, on April 13, received Rs 140.36 crore by issuing 68.5 lakh
equity shares to 15 anchor investors like Franklin India Smaller Companies Fund, ICICI
Prudential, Eastspring Investments India Equity Fund, DSP Blackrock Small & Midcap Fund,
Birla Sun Life etc. The equity shares of the company are proposed to be listed on BSE and
the NSE. The global coordinators & book running lead managers to the issue were ICICI
Securities Limited and HSBC Securities and Capital Markets (India) Private Limited. The
logistics and parcel delivery service provider owned and operated the one of the largest fleet
of commercial vehicles in the private sector in India. Its operational infrastructure for the
goods transportation business as of December 31, 2014 comprised 624 branches
(comprising 604 leased branches and 20 owned branches) and 346 agencies across India.
As of December 31, 2014, the company’s goods transportation fleet included 3,546 owned
vehicles. The company also provides luxury bus services across the states of Karnataka,
Maharashtra, Goa, Andhra Pradesh, Telengana, Tamil Nadu, Gujarat and Rajasthan.
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