19-Mar-2024
2 mins read
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Vruddhi Engineering Works is offering a book-built issue, with a fresh issue of 6.80 Lakhs of shares worth Rs 4.76 Cr. The price band is Rs 66 to Rs 70 per share, and the lot size for the application is 2000 shares. The investors can apply for the same from March 21, 2024 till March 26, 2024.
The IPO is managed by Fedex Securities Pvt Limited, that is the book-running lead manager whereas Bigshare Services Pvt Ltd has been appointed as the registrar for the issue. The listing will be the Bombay Stock Exchange (BSE).
About Vruddhi Engineering Works Limited
Vruddhi Engineering Works Limited is mainly engaged in offering mechanical splicing solutions to the real estate, construction and infrastructure industry by designing, engineering and supplying of rebar couplers. They are offerings under this vertical includes (a) supply of rebar couplers as per the customer needs; (b) on-site threading services of the couplers; and (c) trading in threading machines and spares. The Company believes that it offers an end-to-end mechanical splicing solutions ranging from design, manufacturing, testing, logistics and rebar threading. They believe that the rebar couplers offered by the Company is an alternative to the conventional splicing methods followed in the construction industry. The Company supplies and provides its mechanical splicing solutions to construction contractors, real estate developers and infrastructure companies. The Company supply their rebar couplers in the domestic market and the revenue from the sale of rebar couplers is ₹450.27 lakhs, ₹105.83 lakhs and ₹0.44 lakhs for the Fiscal 2023, Fiscal 2022 and Fiscal 2021, respectively.
Primary Objectives for public issue of Vruddhi Engineering Works
The Company intends to utilise a portion of the Net Proceeds for funding the working capital requirements of the Company, they believe that the working capital will be primarily used for expanding the current business operations. The funding of the working capital requirements of the Company is expected to lead to a consequent increase in the profitability and for other general corporate purposes.
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Financial Performance of Vruddhi Engineering Works Limited (In Rs Lakhs)
The Company reported its net revenue of 13.10 Cr and Profit after Tax of 0.75Cr, which is incremented by 493.53% and 697.99% respectively, for the year ended March 31, 2023.
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 782.33 | 100.14 | 3.02 |
| Revenue | 1,309.62 | 220.65 | 0.44 |
| Profit After Tax | 75.33 | 9.44 | -0.88 |
| Net Worth | 212.12 | 9.56 | 0.12 |
| Reserves and Surplus | 118.55 | 8.56 | -0.88 |
| Total Borrowing | 323.37 | 47.49 | 2.22 |
Important Details of Vruddhi Engineering Works IPO 2024
| IPO Date | March 21, 2024 to March 26, 2024 |
| Listing Date | 1-Apr-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 66 to Rs 70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 680,000 shares (aggregating up to Rs 4.76 Cr) |
| Fresh Issue | 680,000 shares (aggregating up to Rs 4.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 1,843,584 |
| Shareholding post issue | 2,523,584 |
Tentative Timetable of Vruddhi Engineering Works IPO 2024
Vruddhi Engineering Works IPO opens on March 21, 2024, and closes on March 26, 2024.
| IPO Open Date | March 21, 2024 |
| IPO Close Date | March 26, 2024 |
| Basis of Allotment | March 27, 2024 |
| Initiation of Refunds | March 28, 2024 |
| Credit of Shares to Demat | March 28, 2024 |
| Listing Date | April 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 26, 2024 |
Vruddhi Engineering Works IPO Lot Size
A minimum of 2000 shares, i.e. 1 lot and in multiples thereof, can be purchased by investors.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | Rs. 140,000 |
| Retail (Max) | 1 | 2000 | Rs. 140,000 |
| HNI (Min) | 2 | 4000 | Rs. 280,000 |
Reservation of Vruddhi Engineering Works IPO
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Key Performance Indicator of Vruddhi Engineering Works Limited
| KPI | Values |
| ROE | 16.20% |
| ROCE | 15.53% |
| RoNW | 16.20% |
| P/BV | 0.1 |
| PAT Margin (%) | 4.38 |
Promoter Holding of Vruddhi Engineering Works Limited IPO
| Shareholding Pre Issue | 96.34% |
| Shareholding Post Issue | - |
Promoter of the Vruddhi Engineering Works Limited
The promoters of the company is Ms. Bindi Kunal Mehta.
Lead Manager(s) of Vruddhi Engineering Works IPO 2024
The lead manager(s) of Vruddhi Engineering Works IPO 2024 is Fedex Securities Pvt Limited.
How to Apply for Vruddhi Engineering Works Limited IPO 2024
Wait for the public issue to open for subscription, then click here to apply for the Vruddhi Engineering Works Limited IPO 2024 with Bigul.
How to Check Allotment Status of Vruddhi Engineering Works Limited IPO 2024
The registrar for Vruddhi Engineering Works Limited IPO 2024 is Bigshare Services Pvt Ltd. You can check your allotment status by clicking here.
FAQs
- When is the IPO scheduled to open and close?
Vruddhi Engineering Works IPO is scheduled to open on March 21, 2024, investors can can apply for the same till its closing date which is March 26, 2024.
- What will be the price band for the IPO?
Vruddhi Engineering Works Limited IPO price band is decided from Rs 66 to Rs 70 per share, an investor can bid from that given price range, for the maximum probability of getting allotted an investor should bid the maximum price of the given band range.
- What are the main objectives of this IPO?
The Company intends to utilise a portion of the Net Proceeds for funding the working capital requirements of the Company, they believe that the working capital will be primarily used for expanding the current business operations. The funding of the working capital requirements of the Company is expected to lead to a consequent increase in the profitability and for other general corporate purposes.
- How has Vruddhi Engineering Works Limited performed financially?
The Company reported its net revenue of 13.10 Cr and Profit after Tax of 0.75Cr, which is incremented by 493.53% and 697.99% respectively, for the year ended March 31, 2023.
- What are the key performance indicators of Vruddhi Engineering Works Limited?
Key performance indicators reported an ROE of 16.20%, a ROCE of 15.53%, a RoNW of 16.20%, and with a PAT margin of 4.38%.
- How can I apply for the Vruddhi Engineering Works IPO?
Once the Vruddhi Engineering Works Limited IPO opens for subscription, you can apply for it by clicking here with us on bigul.
- How can I check the allotment status of the IPO?
Investors can check the allotment status of the Vruddhi Engineering Works IPO by visiting here.
- Who are the promoters of Vruddhi Engineering Works Limited?
The promoter of Vruddhi Engineering Works Limited is Ms Bindi Kunal Mehta.
- Where will the IPO be listed?
The IPO will be listed on the Bombay Stock Exchange (BSE).
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