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Apr 15, 2015 11:03 AM IST | Source: Moneycontrol.com

VRL Logistics opens, gets Rs 140.4 cr from anchor investors

The logistic company, on April 13, has received Rs 140.36 crore by issuing 68.5 lakh equity shares to 15 anchor investors like Franklin India Smallar Companies Fund, ICICI Prudential, Eastspring Investments India Equity Fund, DSP Blackrock Small & Midcap Fund, Birla Sun Life etc

VRL Logistics opens, gets Rs 140.4 cr from anchor investors

Moneycontrol Bureau


The public issue of VRL Logistics has opened for subscription today, consisting 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 issue constituted at least 25 percent of the fully diluted post-issue paid-up equity share capital of the company. The price band is fixed at Rs 195-205 per share.


The logistic company, on April 13, has received Rs 140.36 crore by issuing 68.5 lakh equity shares to 15 anchor investors like Franklin India Smallar Companies Fund, ICICI Prudential, Eastspring Investments India Equity Fund, DSP Blackrock Small & Midcap Fund, Birla Sun Life, Shinhan BNP Paribas Asset Management, IDFC, HDFC Standard Life Insurance, Abu Dhabi Investment Authority, HDFC Trustee, Reliance Capital Trustee, UTI Transportation & Logistics, Sundaram MF, L&T MF and Morgan Stanley Mauritius Company.


The issue will close on Friday, April 17, 2015, for all bidders. The minimum bid lot is 65 equity shares and in multiples of 65 equity shares thereafter.


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 are ICICI Securities Limited and HSBC Securities and Capital Markets (India) Private Limited.


The company said 50 percent of the issue will be allocated on a proportionate basis to qualified institutional buyers (QIBs). The company and the selling shareholders may, in consultation with the lead managers, allocate, up to 60 percent of the QIB portion to anchor investors at the anchor investor issue price on a discretionary basis, it added.


Further, 5 percent of the net QIB portion will be available for allocation on a proportionate basis to mutual funds only and the remainder of the net QIB portion will be available for allocation on a proportionate basis to all QIBs, including mutual funds. Further, not less than 15 percent of the issue shall be available for allocation on a proportionate basis to non institutional bidders and not less than 35 percent of the issue will be available for allocation on a proportionate basis to retail individual bidders.


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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