E-commerce boom spurs record demand for India's VRL Logistics IPO

April 19, 2015 3:47 AM

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MUMBAI, April 19 (Reuters) - A $75-million market debut for Indian parcel delivery firm VRL Logistics Ltd (IPO-VRLL.NS) has encountered record demand, drawing bids for more than 70 times the number of shares on offer late last week, as investors bet on an e-commerce boom.

Subscription levels were the highest in nearly eight years, stock exchange data showed, roughly the highest since the global financial crisis hit.

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