V R Infraspace IPO is a fixed price issue of Rs 20.40 crores. The issue is entirely a fresh issue of 24 lakh shares.
V R Infraspace IPO opens for subscription on March 4, 2024 and closes on March 6, 2024. The allotment for the V R Infraspace IPO is expected to be finalized on Thursday, March 7, 2024. V R Infraspace IPO will list on NSE SME with tentative listing date fixed as Tuesday, March 12, 2024.
V R Infraspace IPO price is ₹85 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹136,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹272,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the V R Infraspace IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for V R Infraspace IPO is Spread X Securities.
Refer to V R Infraspace IPO RHP for detailed information.
V R Infraspace IPO Details
| IPO Date | March 4, 2024 to March 6, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹85 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 2,400,000 shares (aggregating up to ₹20.40 Cr) |
| Fresh Issue | 2,400,000 shares (aggregating up to ₹20.40 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 6,480,000 |
| Share holding post issue | 8,880,000 |
| Market Maker portion | 121,600 shares Spread X Securities |
V R Infraspace IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
V R Infraspace IPO Timeline (Tentative Schedule)
V R Infraspace IPO opens on March 4, 2024, and closes on March 6, 2024.
| IPO Open Date | Monday, March 4, 2024 |
| IPO Close Date | Wednesday, March 6, 2024 |
| Basis of Allotment | Thursday, March 7, 2024 |
| Initiation of Refunds | Monday, March 11, 2024 |
| Credit of Shares to Demat | Monday, March 11, 2024 |
| Listing Date | Tuesday, March 12, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 6, 2024 |
V R Infraspace IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹136,000 |
| Retail (Max) | 1 | 1600 | ₹136,000 |
| HNI (Min) | 2 | 3,200 | ₹272,000 |
| Lot Size Calculator | |||
V R Infraspace IPO Promoter Holding
The promoters of the company are Mr. Vipul Devchand Rupareliya and Mrs. Sumitaben Vipulbhai Rupareliya.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 72.97% |
About V R Infraspace Limited
Incorporated in December 2015, V R Infraspace Limited is a real estate development company primarily focused on constructing and developing residential and commercial projects in and around Vadodara, Gujarat.
The company offers a range of luxurious, affordable residential buildings with various types of accommodations. Each building has security systems, sports and recreational facilities, play areas, and electricity backups. The company provides residential and commercial projects under the brand name “VR”.
V R Infraspace has completed residential projects named VR Celebrity Luxuria and VR Imperia and a commercial project named VR One Commercial Business Center.
As of September 30, 2023, the Company reported a Consolidated Total Income of Rs. 732.41 Lakhs and Profit after tax of Rs. 89.54 Lakhs.
The company’s registered office is situated at Vadodara, Gujarat, India
As of August 31st, 2023, the company has 9 employees at the construction site and registered office, including key management personnel.
V R Infraspace Limited Financial Information (Restated Consolidated)
V R Infraspace Limited’s revenue increased by 35.16% and profit after tax (PAT) rose by 229.16% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 6,117.91 | 4,328.38 | 4,920.59 | 5,479.20 |
| Revenue | 732.41 | 1,875.53 | 1,387.65 | 1,348.70 |
| Profit After Tax | 89.54 | 262.47 | 79.74 | 72.04 |
| Net Worth | 1,290.10 | 1,211.86 | 949.39 | 869.65 |
| Reserves and Surplus | 642.10 | 563.86 | 301.39 | 221.65 |
| Total Borrowing | 661.36 | 971.87 | 1,038.55 | 1,676.31 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of V R Infraspace IPO is Rs 75.48 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 7.16% |
| ROCE | 6.12% |
| Debt/Equity | 0.51 |
| RoNW | 6.94% |
| P/BV | 6.26 |
| PAT Margin (%) | 12.33 |
Check V R Infraspace IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.05 | 2.02 |
| P/E (x) | 20.99 | 42.15 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (V R Infraspace IPO Objectives)
The Net Proceeds from the Fresh Issue will be utilized towards the following objects:
- Investment into our subsidiary namely M/s Narnarayan Enterprise
- To Meet Working Capital Requirement
- General Corporate Purpose
- To Meet the Issue Expenses
V R Infraspace IPO Review (Avoid)
[Dilip Davda] The company is in reality segment and construction affordable housing projects in and around Vadodara. It is operating in a highly competitive and fragmented segment. On the financial performance front, it posted bumper profits for FY23 indicating some window dressing for inflated valuations. Based on FY24 annualized earnings, the issue appears exorbitantly priced. There is no harm in skipping this “High Risk/Low Return” bet. Read detail review…
V R Infraspace Limited Contact Details
V R Infraspace Limited
National Trade Center N. H. 8
Opp. L & T,
Bapod Na Vadodara-390019
Phone: +91- 9737118885
Email: info@vrinfraspace.com
Website: https://vrinfraspace.in/
V R Infraspace IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: vrinfraspace.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html