India-based goods and passenger transport services provider VRL Logistics has completed an IPO on the Bombay Stock Exchange and National Stock Exchange, which included a fresh issue of shares as well as exits for promoters of the company and New Silk Route Growth Capital (NSR), an Asia-focused growth capital firm. NSR sold 14.6 million shares for the issue price of INR205 (approximately US$3.21) apiece, returning INR3 billion (approximately US$47 million) and representing a reported 2.5x cash multiple on its initial investment. NSR continues to hold 4.7 million shares in the company.