Recently listed transport and logistics firm VRL Logistics Limited has been included in the S&P BSE IPO index with effect from today. In a statement, the Bombay Stock Exchange (BSE) said VRL Logistics will replace Credit Analysis & Research Limited (CARE) which is being excluded on account of completion of two years in the index.
“VRL Logistics is a new listing on the BSE with a float market capitalisation greater than INR100 crore, which necessitates its inclusion in the index,” said the exchange.
VRL Logistics received overwhelming response to its IPO with an oversubscription of nearly 74 times. The stock got listed on BSE and NSE on Thursday (30 April) and closed the day at INR293.3 per share, a premium of 43% to the issue price of INR205 per share.