VRL logistics Ltd. (VRL), one of the leading pan-India surface logistics and parcel delivery service providers is launching public issue on April 15, 2015 at the 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. Hence, it recommends SUBSCRIBE to this IPO for long term.
The issue size is of Rs. 1.17 billion, listing on BSE and NSE. The bid lot is of 65 shares. The main objectives of the issue are to expand its existing fleet of goods transportation vehicles and utilize 28 crore from the net proceeds towards prepayment of certain loans.
The global coordinators and book running lead managers to the Issue are ICICI Securities and HSBC Securities and Capital Markets (India).
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