Sunday, October 01, 2006

Global Vectra Helicorp: Cruising along

In the wake of the current turmoil of the airline industry we have yet another player set to tap the market. However, Global Vectra Helicorp Ltd (GVHL) is not comparable to the other large and fancy players.
Promoted by an IITian, Ravinder Kumar Rishi, Global Vectra Helicorp generates its business as one of the largest dedicated offshore transportation services helicopter companies in India. Currently, it has 14 Bell 412 helicopters each having 13 passenger seats and two pilot seats.
The current initial public offer of 35,00,000 equity shares of Rs 10 each for cash at a premium to be decided through the book-building process, will largely be used to fund expansion of the fleet and create infrastructure .
Currently GVHL has infrastructure at the Juhu Airport, Mumbai, for operations and maintenance of its fleet. It also has a forward base at Rajamundri and Vizag for its east coast operations.
The price band for the issue has been fixed between Rs 175 and Rs 200 per equity share of Rs 10 each.
GVHL is a part of the Vectra Group which has 18 companies in six countries, primarily in India and Eastern Europe.
01/10/06 Akash Joshi/Financial Express
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