Visaman Global Sales IPO: Check Important details before applying

Visaman Global Sales has come up with an offering of a public issue. This Initial Public Offering (IPO) will consist of an entirely fresh issue of up to 3,732,000 equity shares, priced at Rs 43 per share. The total aggregated size of the offer amounts to Rs 16.05 Crore. This new IPO is being made through a Fixed Price issue type with a reservation of not less than 50% of the net issue being offered to qualified institutional buyers, retail investors being offered not less than 35% of the net issue, and not less than 15% of the net issue is reserved for HNI category. This IPO will be open for subscription from June 24, 2024, till June 26, 2024, whereas the listing date is decided on July 01, 2024, and refund initiation for those who will not get allotted the share will be on June 28, 2024. However, keep in mind that the public offering is proposed to be listed on the NSE exchange on an SME segment.

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About Visaman Global Sales Limited

Visaman Global Sales Limited was founded in June 2019. The company has specialization in a diverse array of products, including round, square, and rectangular pipes, various types of structural steels, BGL coils, GP (GI) coils, HR coils, CR coils, colour-coated coils, MS sheets, GP and GC sheets, CR sheets, HR sheets and plates, color-coated sheets, roofing PUF panels, and wall PUF panels. The company, an ISO 9001:2015 certified organization, provides customization services to meet specific customer requirements for product sizes and dimensions. With a stockyard in Gujarat and warehouses in both Gujarat and Madhya Pradesh, Visaman Global Sales Limited employs 41 staff members across its offices and stockyards as of March 15, 2024.

Primary Objectives of Public Issue

The company said they utilize the Net Proceeds from the issue to fund various objects, including the funding of capital expenditure requirements for setting up a manufacturing facility at Rajkot, Gujarat, India. Next, they plan to fund working capital requirements and general corporate purposes.

Financial Performance of Visaman Global Sales Limited (Amount in Rs Lakhs)

The company’s revenue was reported to be Rs 376.05 crore for the year ended March 2023, which shows a growth of 16.03%. The profit after tax improved to Rs 113.33, marking an increase of 19.72% for the year ended March 2024.

Essential Details of the Visaman Global Sales Public Issue 2024

Visaman Global Sales IPO Tentative Timeline  

Lot Size of Visaman Global Sales IPO

Key Performance Indicator

The market cap of the Visaman Global Sales IPO is Rs 59.39 Crore

What is the change in promoter holding for Visaman Global Sales before and after the IPO?

The promoters of Visaman Global Sales are Mr Mitulkumar Sureshchandra Vasa, Mr Sureshchandra Gulabchand Vasa, Ms Avni M. Vasa, Ms Ilaben Sureshchandra Vasa and Mr Kular Brijesh N. Prior to the IPO the promoters collectively held 100% of the company's shares. However, post-IPO, their combined shareholding decreased to 72.98%.

Lead Manager(s) of Visaman Global Sales IPO 2024

The lead manager of Visaman Global Sales IPO is Shreni Shares Limited.  

How to Apply for Visaman Global Sales IPO 

The public issue will be open for subscription in a few days. You can click here to apply for the Visaman Global Sales IPO with Bigul.

How to Check the Allotment Status of Visaman Global Sales IPO 2024  

Link Intime India Private Limited is the registrar for Visaman Global Sales IPO. You can check your allotment status by clicking here.

FAQs   

1.  When is the IPO scheduled to open and close? 

Visaman Global Sales IPO is scheduled to open for subscription from June 24, 2024, till June 26, 2024.  

2.  What will the price band be for the IPO?   

The Visaman Global Sales IPO price band is set at Rs 43 per share.  

3.  What are the main objectives of this IPO?   

The company proposes to utilize the Net Proceeds from the Issue towards funding the various objects, including the funding of capital expenditure requirements for setting up a manufacturing facility at Rajkot, Gujarat, India next they plan towards the funding of Working Capital Requirements, and general corporate purposes.

4.  How has Visaman Global Sales Limited performed financially?

The company’s revenue was reported to be Rs 376.05 crore for the year ended March 2023, which shows a growth of 16.03%. The profit after tax improved to Rs 113.33, marking an increase of 19.72% for the year ended March 2024.

5.  How can I apply for the Visaman Global Sales IPO?   

The public issue will be open for subscription in few days, you can click here to apply for the Visaman Global Sales IPO with Bigul.   

6.  How can I check the allotment status of the IPO? 

Link Intime India Private Limited is the registrar for Visaman Global Sales IPO. You can check your allotment status by clicking here.  

7.  Where will the IPO be listed?   

The IPO will be listed in the NSE SME segment (National Stock Exchange Small and Medium Enterprises).

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