Open Market Through Stock Exchange | ₹60.00 Crores | Listing at BSE, NSE | Wed, Feb 17, 2021 - Mon, Aug 16, 2021
VRL Logistics Ltd. Buyback is a tender offer for the repurchase of up to equity shares at a buyback price of ₹300 per share with a face value of ₹10 per share, aggregating to ₹60.00 crores.
The buyback opens on Feb 17, 2021 and closes on Aug 16, 2021.
ICICI Securities Ltd. is the Manager to the Buyback and Kfin Technologies Ltd. is the Registrar and ICICI Securities Limited is the Registered Broker to the Buyback.
Investors are advised to refer to the VRL Logistics Ltd. Letter of Offer for detailed information, including eligibility criteria, entitlement ratio, acceptance methodology, and tax implications.
Offer Opening Date
Wed, Feb 17, 2021
Offer Closing Date
Mon, Aug 16, 2021
Buyback Price
₹300 per share
Record Date
[.]
| Particulars | For the year/period ended (Rs. in Millions) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Income | 21,288.56 | 21,174.68 | 19,365.50 |
| Profit After Tax | 901.14 | 919.16 | 925.64 |
| Net Worth | 6,168.69 | 6,459.38 | 5,932.19 |
Incorporated in 1983 as 'Vijayanand Roadlines Private Limited', the company became a public limited company in 1997, and its name was changed to 'VRL Logistics Limited'.
The company is engaged in the business of general parcel and priority parcel delivery (less than truckload services), courier, and full-truckload services through a widespread transportation network in 22 States and five Union Territories across India.
The company has capabilities for the transportation of vehicles (cars) and liquids. It undertakes the movement of specialized cargo such as delicate testing equipment, high voltage testing equipment, high voltage control panels, high voltage circuit breakers, automobile chassis frames, extra-wide cabins, glass, high-capacity transformers, etc.
VRL Logistics also offers travel, transport of passengers by air, and outdoor branding services.
The company finds mention in the Limca Book of Record as the largest fleet owner of commercial vehicles in India in the private sector.
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 214.00 | 165.00 | 196.03 |
| Dec-2020 | 214.00 | 171.80 | 197.27 |
| Nov-2020 | 192.60 | 149.00 | 166.31 |
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Jan-2021 | 209.70 | 179.25 | 196.00 |
| Dec-2020 | 214.25 | 171.75 | 197.31 |
| Nov-2020 | 193.05 | 149.00 | 166.32 |
The Buyback will help the Company achieve the following objectives:
i) Optimize returns to shareholders;
ii) Enhance overall shareholders’ value; and
iii) Improve return on equity by reduction in the equity base.
VRL Logistics Ltd.
Giriraj Annexe,
Circuit House Road,
Hubballi – 580029
Hubballi, Karnataka, 580029
Lead Manager(s)
Registered Broker
The VRL Logistics Buyback opens on February 17, 2021, and closes on August 16, 2021.
The VRL Logistics Buyback is a Open Market Through Stock Exchange.
VRL Logistics Buyback Schedule
| Buyback Opening Date | February 17, 2021 |
| Buyback Closing Date | August 16, 2021 |
| Last date for acceptance of shares | Upon relevant pay-out by the Stock exchange |
The VRL Logistics Buyback is being offered at Rs ₹300 per share.
There is no ratio applicable in case of open market offer through stock exchange mechanism.
The VRL Logistics Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹60.00 Crores with pricing of Rs. ₹300 per share.
The Buyback will help the Company achieve the following objectives:
i) Optimize returns to shareholders;
ii) Enhance overall shareholders’ value; and
iii) Improve return on equity by reduction in the equity base.
Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.
The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.
The VRL Logistics Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
