VRL Logistics IPO
VRL Logistics IPO — date, price band, lot size & details 2015
VRL Logistics listed on 30 Apr 2015 at ₹288, 40.5% above the ₹205 issue price.
VRL Logistics is a pan India surface logistics and parcel delivery company that owns the largest private fleet of commercial vehicles in India. Its total income was Rs 1,503.78 crore in FY2014.
Stock price
VRL Logistics is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 15 November.
- Open 15 Apr 2015
- Close 17 Apr 2015
- Allotment 24 Apr 2015
- Refund/credit TBA
- Listing 30 Apr 2015
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 17 Apr, 2015 |
|---|---|
| Price Band | ₹195 – ₹205 |
| Face Value | ₹10 |
| Lot Size | 65 Shares |
| Issue Size | ₹467.88 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 13,325 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 65 shares at the ₹205 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 65 | ₹13,325 |
| Retail (max) | 15 | 975 | ₹1,99,875 |
| S-HNI (min) | 16 | 1,040 | ₹2,13,200 |
| S-HNI (max) | 75 | 4,875 | ₹9,99,375 |
| B-HNI (min) | 76 | 4,940 | ₹10,12,700 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 1,135.28 crore in FY2012 to Rs 1,503.78 crore in FY2014.
- 02It owns the largest private fleet of commercial vehicles in India, covering 28 states.
- 03Total borrowing fell from Rs 476.41 crore in FY2012 to Rs 317.61 crore on 31 December 2014.
- 04EBITDA rose from Rs 196.80 crore in FY2012 to Rs 216.57 crore in FY2014.
Risks · 5
- 01Profit after tax fell from Rs 76.72 crore in FY2012 to Rs 45.70 crore in FY2013.
- 02Fuel prices and driver costs drive its expenses; profit was Rs 57.18 crore on income of Rs 1,503.78 crore in FY2014.
- 03Rs 350.88 crore of the Rs 467.88 crore issue went to selling shareholders.
- 04Road freight is a fragmented, competitive business; total assets were Rs 972.90 crore.
- 05Promoter holding fell from 77.21% before the issue to 69.57% after it.
Three years of numbers
All figures in ₹ crore, as reported in the VRL Logistics offer document.
| Metric | 31 Dec 2014 | 31 Mar 2014 | 31 Mar 2013 | 31 Mar 2012 |
|---|---|---|---|---|
| Assets | 972.90 | 977.93 | 965.18 | 932.33 |
| Total Income | 1,279.38 | 1,503.78 | 1,335.32 | 1,135.28 |
| Profit After Tax | 71.69 | 57.18 | 45.70 | 76.72 |
| EBITDA | 219.49 | 216.57 | 205.05 | 196.80 |
| NET Worth | 336.81 | 306.55 | 289.40 | 187.32 |
| Reserves and Surplus | 251.28 | 221.01 | 108.23 | 116.62 |
| Total Borrowing | 317.61 | 362.30 | 379.01 | 476.41 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the VRL Logistics RHP.
Where the money goes
₹10.83 Cr of the issue is earmarked to named objects.
VRL Logistics IPO Anchor Investors
24 anchor investors across 15 fund houses committed ₹140.37 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It owns and runs the largest fleet of commercial vehicles in the private sector in India.
It offers general and priority parcel delivery (less than truckload), courier and full truckload services through a network across 28 states and four union territories.
The IPO was Rs 467.88 crore, with Rs 117.00 crore of fresh issue and Rs 350.88 crore of offer for sale, at Rs 205, the top of the Rs 195 to Rs 205 band. The fresh money was for buying goods vehicles and repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
VRL Logistics IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
HSBC Securities & Capital Markets (India) Pvt. Ltd.
34 issues handledBest listing: Gujarat State Petronet (+72.2%). Weakest: Nuvoco Vistas Corporation (-14.9%).
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of VRL Logistics?
The current Grey Market Premium is ₹0.
What is the VRL Logistics IPO price band?
₹195 to ₹205, on a face value of ₹10.
When is the allotment?
The basis of allotment is 24 April 2015, with listing on 30 April 2015.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
