Shares of transport and logistics firm VRL Logistics made a stellar debut on the bourses today, surging over 40 per cent as against the issue price of Rs 205.
The stock listed at Rs 288, up 40.48 per cent as compared to the issue price on the BSE. Later, it gained 44 per cent to reach Rs 295.40.
On the NSE also it debuted 40.48 per cent higher at Rs 288.
The initial public offer (IPO) of VRL Logistics had earlier this month received stupendous response from investors where the share sale got subscribed over 74 times.
This is the first IPO in recent times where the subscription has crossed the 70-times mark.
VRL Logistics, with a total fleet of over 3,400 vehicles, employs 15,000 people. It provides luxury bus service in Karnataka, Maharashtra, Goa, Andhra Pradesh, Telangana, Tamil Nadu, Gujarat and Rajasthan.
