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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.
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The initial public offer (IPO) of VRL Logistics today got over-subscribed at 1.10 times of the issue size on the second day of subscription.
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Logistics industry is likely to benefit from implementation of GST, improving economic activity and shift of traffic from railways to road. Expect traffic growth of 9% CAGR between FY14-19E. So one can scribe to VRL Logistics IPO, says SPA Research.
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VRL Logistics has strong commercial vehicle portfolio and diversified client group and trading at 19x to its FY15 annualized EPS (post issue), considering higher price band. Therefore, we assign a "Subscribe" rating on this issue, says BP Equities.
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Brokerage house Angel Broking has recommended investors to Subscribe to VRL Logistics IPO, in its research report dated April 11, 2015.
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VS Fernando a veteran IPO analyst has come out with his view on VRL Logistics IPO. "Sound track, buoyant prospects and credible dividends merit attention", says the expert.
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VRL logistics is available at the IPO price band of Rs 195 to Rs 205 which is available at 17-18 P/E multiple. GEPL Capital believes that this valuation looks cheaper. So one can subscribe to the issue.
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With the improving macroeconomic environment, contribution of freight transportation via road is poised to increase and VRL with its largest fleet size, superior track record, strong brand name, diverse client base, and vast management experience is all set to benefit from the opportunities provide by the sector. Subscribe to IPO, says IIFL.
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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
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Arihant capital markets has recommended investors to SUBSCRIBE for VRL Logistics IPO with a short to medium term view, in its research report dated April 13, 2015.
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Ajcon Global has come out with its report on VRL Logistics IPO. The research firm has advised to subscribe to the issue in its report dated April 09, 2015.
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VRL Logistics' internal strengths such as large fleet of owned vehicles, wide distribution network & diversified customer base will enable the company to ride this wave of opportunity successfully. Hence we recommend Subscribe to this issue, says Way2Wealth.
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Aditya Birla Money has recommended investors to "Subscribe" on VRL Logistics IPO for short term and medium term investment, in its research report dated April 13, 2015.
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Hem Securities has recommended to subscribe on VRL Logistics IPO, as issue looks an attractive investment opportunity, says the report.
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KRChoksey has come out with its report on VRL Logistics IPO. The research firm has recommended to subscribe to the issue.
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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.
