PE firm New Silk Route on Friday sold its remaining 5.16% stake in logistics firm VRL Logistics through a block trade on the stock exchanges for around Rs147 croreMumbai: Private equity firm New Silk Route (NSR) on Friday sold its remaining 5.16% stake in logistics firm VRL Logistics Ltd through a block trade on the stock exchanges for around Rs.147 crore, said two people aware of the development. Promoters or promoter entities have not sold shares,” said Sunil Nalavadi, chief financial officer of VRL Logistics. Through the IPO, NSR had sold around 14.5 million shares at a price of Rs.205 per share, thus fetching around Rs.298 crore. VRL Logistics is not the only company that NSR has exited from in recent times. Shares of VRL Logistics closed the day at Rs.310.9 per share on BSE, down by 5.75%, while the benchmark Sensex fell 0.38% to 27,836.5 points.

Source: Mint July 15, 2016 11:25 UTC