Global Vectra Helicorp files prospecturs with SEBI

Mumbai, May 23 (UNI) Global Vectra Helicorp Ltd, a dedicated offshore helicopter transportation services company servicing the oil and gas exploration sector in India, has filed its Draft Red Herring Prospectus (DRHP) with Securities&Exchange Board of India to enter the capital market with its proposal initial public offer (IPO).

Accordingly, the company will enter the capital market with an offer of 35 lakh equity shares of Rs 10 each for cash at a premium to be decided through cent per cent book-building process, said a release issued by the company here today.

With its 12 Bell-412 helicopters, Global Vectra Helicorp is involved in transporting crew and cargo of oil and gas companies to offshore oil platforms located approximately 50-100 nautical miles from the coastlines of India for their exploration and production activities, the release added.

Of the total offer, the company will issue 28 lakh fresh equity shares and the balance 7 lakh equity shares are on offer for sale by one of the promoters, Azal Azerbajan Aviation Ltd which is a Vectra Group company. Other Vectra Group companies in India include Tatra Trucks India Ltd and Terex Vectra Equipment Pvt Ltd.

The IPO constitutes 25 per cent of the fully diluted post issue equity capital.

The Book Running Lead Managers to the issue are SBI Capital Markets and ICICI Securities.

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