VRL Logistics Buyback 2023 description – VRL Logistics is engaged in logistics services dealing mainly in the domestic transportation of goods. Its other businesses include bus operations, transport of passengers by air, sale of power, and sale of certified emission reduction units generated from the operation of windmills.
VRL has the largest fleet of owned vehicles in the country, comprising 5,111 vehicles and operational infrastructure facilities spread across 956 locations. The company added 91 new branches and 241 new vehicles including 19 electric vehicles in FY 2022.
The company’s business segments include:
- Goods Transport (89%)
- Bus Operations (9%)
- Sale of Power (1%)
- Air Charter (0.5%)
VRL Logistics Share Buyback 2023 Details
| VRL Logistics Buyback Dates | 13 – 27 March 2023 |
| VRL Logistics Buyback Price | INR 700 per share |
| Market Price on Buyback Approval | INR 520.45 per share |
| Buyback Premium on Market Price | 34.50% |
| Buyback Offer Size (Shares) | 8,75,000 shares |
| Buyback Offer Size (Amount) | INR 61.25 crore |
| Offer Type | Tender |
| Promoter Participation | Yes |
| Face Value | INR 10 per share |
| Listing At | BSE, NSE |
VRL Logistics Buyback Dates (Timeline)
| Board Meeting Intimation for Buyback Proposal | 23 January 2023 |
| Buyback Approval Date | 30 January 2023 |
| Public Announcement of Buyback | 1 February 2023 |
| VRL Logistics Buyback Record Date | 10 February 2023 |
| Buyback Opening Date | 13 March 2023 |
| Buyback Closing Date | 27 March 2023 |
| Cut-off Date to receive completed tender forms by Registrar | 27 March 2023 |
| Verification Date by the Registrar | 27 March 2023 |
| Return of unaccepted shares by Registrar | 10 April 2023 |
| Extinguishment of accepted shares | 17 April 2023 |
VRL Logistics Buyback 2023 Documents
Letter of Offer
Draft Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback
VRL Logistics Buyback Entitlement Ratio
| Shareholder Category | Entitlement Ratio | Entitlement Ratio (in %) |
| Small Shareholders (less than INR 2 Lakh on record date) | 1/26 | 3.85 |
| General category (for all other Eligible Shareholders) | 1/114 | 0.88 |
Small Shareholder is defined as shareholder who holds shares worth less than INR 2,00,000 as on record date.
VRL Logistics Financial Performance
| FY 2020 | FY 2021 | FY 2022 | |
| Revenue | 2,118.54 | 1,762.92 | 2,393.65 |
| Total Expenses | 1,857.01 | 1,552.26 | 2,032.58 |
| Net income | 90.12 | 45.07 | 160.11 |
Calculation of Investment in Buyback
| Maximum market value of a share holder as on record date | INR 2,00,000 |
| Buyback price per share | INR 700 |
| Maximum shares for small shareholder (2,00,000/700) | 286 shares * |
| Closing price of stock as on 30 January 2023 | INR 520.45** |
| Maximum amount invested in buyback (INR 520.45 x 286 shares) | INR 1,48,848.7 |
** For simplicity, we have considered price on buyback approval date
VRL Logistics Buyback Profit Guidance
| Shares Tendered | Buyback Entitlement | Acceptance ratio | Buyback Profit | Profit in % |
| 286 | 12 | 12 (100%) | 2,154.6 | 1.45 |
| 286 | 12 | 24 (200%) | 4,309.2 | 2.90 |
| 286 | 12 | 36 (300%) | 6,463.8 | 4.34 |
Registrar of VRL Logistics Buyback 2023
KFIN TECHNOLOGIES LIMITED
Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda,
Serilingampally, Hyderabad – 500 032, Telangana
Phone:Â +91 40 6716 2222
Email:Â [email protected]
Website: www.kfintech.com
Manager of VRL Logistics Buyback 2023
MOTILAL OSWAL INVESTMENT ADVISORS LIMITED
Motilal Oswal Tower, Rahimtullah Sayani Road,
Opposite Parel ST Depot, Prabhadevi,
Mumbai- 400 025, Maharashtra, India
Tel: +91 22 7193 4380
Email: [email protected]
Website: www.motilaloswalgroup.com
Process to Participate in VRL Logistics Buyback
All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stockbroker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.
The shareholder must transfer the tendered shares to the clearing corporation’s Special account. In turn, the broker would place a buyback order on the stock exchange.
The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After complete document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.
Frequently Asked Questions
What are VRL Logistics’ buyback dates?
VRL Logistics share buyback opens on 13 March 2023 and closes on 27 March 2023.
Which type of buyback is VRL Logistics’ buyback offer?
VRL Logistics buyback is a tender offer.
What is VRL Logistics buyback price?
VRL Logistics buyback price is INR 700 per share.
What is VRL Logistics buyback record date?
VRL Logistics buyback record date is 10 February 2023.
How to participate in VRL Logistics share buyback?
VRL Logistics share buyback will be conducted through a tender process and investors who hold the shares on record date can place orders through their broker.
