CRISIL Equities has assigned a grade of 3/5 to the proposed initial public offer (IPO) of VRL Logistics (VRL), which indicates that the fundamentals of the IPO are average relative to other listed equity securities in India, according to research report dated March 9.
VRL is a transportation and logistics service provider based in Hubli, Karnataka. It is the largest private sector owner of commercial vehicles with a fleet of 2,573 trucks and 256 buses. VRL operates goods transportation services across 534 cities in 20 states and six union territories, supported by a strong network 436 self-owned branches and 423 exclusive franchise offices. It has established 44 transshipment hubs which offer flexibility to transport a broad range of goods and services to multiple destinations.
The report says, "The assigned grade reflects VRL
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
