VRL Logistics Files DRHP With SEBI

Hubli-based VRL Logistics Ltd has filed DRHP to raise fund through IPO and plans to issue 2.35 Cr shares which constitutes 25% of the fully diluted post-issue paid-up share capital.

The company will utilise the IPO proceeds to fund new vehicle acquisitions (Rs.140 Cr), to retire debt to UCO Bank and Union Bank of India (to both Rs.110 Cr) and for other general corporate purposes.

SBI Capital markets is the sole book running lead manager to the issue.

Transaction Reference: SEBI