The initial public offer (IPO) of VRL Logistics opens for bidding through the book building route on 15 April 2015. The price band for the IPO has been set at Rs 195 to Rs 205 a share. The issue will close on 17 April 2015.
The IPO consists of a fresh issue of equity shares aggregating up to Rs 117 crore and an offer for sale of up to 1.71 crore equity shares by NSR-PE Mauritius LLC, Dr. Vijay Sankeshwar and Mr. Anand Sankeshwar. The promoters of the company are Dr. Vijay Sankeshwar and Mr. Anand Sankeshwar.
The company intends to utilize the net proceeds of the offer for purchase of goods transportation vehicles. repayment/pre-payment, in full or part, of certain borrowings availed by the company and general corporate purposes.
VRL Logistics is one of the leading pan-India surface logistics and parcel delivery service providers.
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