Global Vectra Helicorp files DRHP with SEBI

New Delhi, May 25 (UNI) Global Vectra Helicorp Limited, the largest dedicated offshore helicopter transportation services company in India servicing the oil and gas exploration and production sector, has filed its draft red herring prospectus (DHRP) with the Securities and Exchange Board of India (SEBI).

The company plans to enter the capital market with its proposed initial public offer. It is offering 3.5 million equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book-building process.

Global Vectra Helicorp has 12 Bell 412 helicopters. The company is involved in transporting crew and cargo of oil and gas companies to offshore oil platforms located 50 to 100 nautical miles from the coastlines of India for their exploration and production activities.

The company plans include expansion of its fleet and construction of its hangar at the Juhu airport in Mumbai from the proceeds of this issue.

Of the total offer, the company will be issuing 2.8 million fresh equity shares and the balance 700,000 equity shares are on offer for sale by one of the promoters Azal Azerbaijan Aviation Limited.

Other Vectra group companies in India include Tatra Trucks India Limited and Terex Vectra Equipment Private Limited. The issue constitutes 25 per cent of the fully diluted post issue equity capital. The book running lead managers to the issue are SBI Capital Markets Limited and ICICI Securities Limited.

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