Global Vectra opens with 35% premium on NSE

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Global Vectra opens with 35% premium on NSE

Global Vectra Helicorp, one of the largest dedicated offshore transportation services helicopter company, has listed with 35% premium over its offer price of Rs 185 per share.

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Global Vectra Helicorp , one of the largest dedicated offshore transportation services helicopter company, has listed at Rs 250, up 35% on the NSE against its offer price of Rs 185 per share but could sustain that gain and the share is trading below its offer price.

On the NSE, at 10:19 am, the share was quoting at Rs 182.75, with volumes of 5,14,994 shares. It has touched an intraday high of Rs 250 and an intraday low of Rs 170.05.

On the BSE, at 10:19 am, the share was quoting at Rs 182.50, with volumes of 5,87,290 shares. It has touched an intraday high of Rs 190 and an intraday low of Rs 175.

The company entered in the capital market with its initial public offer, IPO of 35,00,000 equity shares of Rs 10 each. The issue was subscribed 3.59 times.

Global Vectra Helicorp, GVHL presently has 14 Bell 412 helicopters each having 13 passenger seats and two pilot seats. GVHL is part of the Vectra Group, which has 18 companies in six countries, primarily in India and Eastern Europe.
 
For fiscal 2006, the company achieved gross revenue of Rs 898.38 million as compared to Rs 524.20 million in fiscal 2005, an increase of 71.38% year on year. The net profit for fiscal 2006 was Rs 78.01 million as compared to a net loss of Rs 4.31 million in fiscal 2005.
 
GVHL's biggest client is the largest oil and gas company in the country. The other clients include Reliance Industries, British Gas Exploration and Production, Transocean and Gujarat State Petroleum Corporation.