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The Rs 460 crore-initial public offering (IPO) of VRL Logistics was subscribed nearly two times a day before its close.
The 16.3 million-share offering received 31.5 million bids across all three categories, including retail and institutional. The Karnataka-based logistics firm has priced its offering in a range between Rs 195 and Rs 205 a share.
VRL is looking to raise Rs 170 crore by issue of fresh equity and nearly Rs 300 crore will be raised by offer for sale by existing investors in the IPO. VRL has already raised Rs 140 crore from 15 anchor investors.
