VRL Logistics IPO Oversubscribed 74 times!
T
he initial public offer of VRL Logistics, a transport firm, received an overwhelming response and has been subscribed nearly 74 times at the end of its three-day IPO window.
The IPO received bids for over 1,20,41,97,865 shares as against the issue size of 1,62,69,006 shares, data available with the BSE & NSE showed. Besides the company has allocated shares worth Rs 140.36 crore to anchor investors, at the higher end of the price band.
The final break-up for subscription in retail, qualified institutional buyers and non institutional investors category are as follows:
The portion allocated for qualified institutional buyers saw 58.22 times subscription. The non institutional investor portion witnessed an even better response with 250.86 times subscription.
The category for retail individual investors was subscribed 6.61 times.
The price band for the transport firm’s initial share sale was fixed at Rs 190-205 apiece.
The logistics company, on April 13, received Rs 140.36 crore by issuing 68.5 lakh equity shares to 15 anchor investors like Franklin India Smaller Companies Fund, ICICI Prudential, Eastspring Investments India Equity Fund, DSP Blackrock Small & Midcap Fund, Birla Sun Life etc.
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 were ICICI Securities Limited and HSBC Securities and Capital Markets (India) Private Limited.
The IPO, which opened on April 15, closed today.