Visaman Global Sales IPO is a fixed price issue of Rs 16.05 crores. The issue is entirely a fresh issue of 37.32 lakh shares.
Visaman Global Sales IPO opens for subscription on June 24, 2024 and closes on June 26, 2024. The allotment for the Visaman Global Sales IPO is expected to be finalized on Thursday, June 27, 2024. Visaman Global Sales IPO will list on NSE SME with tentative listing date fixed as Monday, July 1, 2024.
Visaman Global Sales IPO price is ₹43 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹129,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹258,000.
Shreni Shares Limited is the book running lead manager of the Visaman Global Sales IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Visaman Global Sales IPO is Shreni Shares.
Refer to Visaman Global Sales IPO RHP for detailed information.
Visaman Global Sales IPO Details
| IPO Date | June 24, 2024 to June 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹43 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 3,732,000 shares (aggregating up to ₹16.05 Cr) |
| Fresh Issue | 3,732,000 shares (aggregating up to ₹16.05 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,079,999 |
| Share holding post issue | 13,811,999 |
| Market Maker portion | 192,000 shares Shreni Shares |
Visaman Global Sales IPO Timeline (Tentative Schedule)
Visaman Global Sales IPO opens on June 24, 2024, and closes on June 26, 2024.
| IPO Open Date | Monday, June 24, 2024 |
| IPO Close Date | Wednesday, June 26, 2024 |
| Basis of Allotment | Thursday, June 27, 2024 |
| Initiation of Refunds | Friday, June 28, 2024 |
| Credit of Shares to Demat | Friday, June 28, 2024 |
| Listing Date | Monday, July 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 26, 2024 |
Visaman Global Sales IPO Lot Size
Investors can bid for a minimum of 3000 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 | 3000 | ₹129,000 |
| Retail (Max) | 1 | 3000 | ₹129,000 |
| HNI (Min) | 2 | 6,000 | ₹258,000 |
| Lot Size Calculator | |||
Visaman Global Sales IPO Promoter Holding
The Promoters of the company are Mr. Mitulkumar Sureshchandra Vasa, Mr. Sureshchandra Gulabchand Vasa, Ms. Avni M. Vasa, Ms. Ilaben Sureshchandra Vasa and Mr. Kular Brijesh N.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 72.98% |
About Visaman Global Sales Limited
Incorporated in June 2019, Visaman Global Sales Limited supplies a wide range of products, including round pipes, square pipes, rectangle pipes, various specifications of structural steels, BGL coils, GP (GI) coils, HR coils, CR coils, color-coated coils, MS sheets, GP and GC sheets, CR sheets, HR sheets and plates, color-coated sheets, roofing PUF panel, and wall PUF panel.
The company offers customization to meet specific customer requirements for product size and dimensions.
The company is an ISO 9001:2015 certified organization.
The company has a stockyard in Gujarat and warehouses in both Gujarat and Madhya Pradesh.
As of March 15, 2024, the company has 41 staff members working at its offices and stock yards.
Visaman Global Sales Limited Financial Information (Restated)
Visaman Global Sales Limited’s revenue increased by 16.04% and profit after tax (PAT) rose by 19.72% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,001.69 | 5,863.95 | 3,982.42 | 2,727.20 |
| Revenue | 20,691.39 | 37,605.01 | 32,407.29 | 13,636.19 |
| Profit After Tax | 101.61 | 113.33 | 94.66 | 33.47 |
| Net Worth | 1,095.31 | 993.70 | 660.38 | 565.72 |
| Reserves and Surplus | 395.31 | 293.70 | 180.38 | 85.72 |
| Total Borrowing | 5,690.85 | 4,345.69 | 1,386.10 | 710.34 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Visaman Global Sales IPO is Rs 59.39 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 9.28% |
| ROCE | 8.02% |
| Debt/Equity | 5.2 |
| RoNW | 9.28% |
| P/BV | 3.96 |
| PAT Margin (%) | 0.49 |
Check Visaman Global Sales IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.12 | 0.98 |
| P/E (x) | 38.25 | 43.84 |
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 December 31, 2023 that is available in RHP.
Objects of the Issue (Visaman Global Sales IPO Objectives)
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding of capital expenditure requirements of the Company towards setting up of a manufacturing facility at Rajkot, Gujarat, India
- Funding Working Capital Requirements of the company; and
- General corporate purposes.
Visaman Global Sales IPO Review (Avoid)
[Dilip Davda] The company is in the business of trading in pipes/sheets/coils of various metals. It depends on third party supply. It posted average earnings on growing topline indicating the nature of business as “High Volume – Low margin”. Based on FY24 annualized earnings, the issue appears aggressively priced. It is operating in a highly competitive and fragmented business. There is no harm in skipping this high risk pricey issue. Read detail review…
Visaman Global Sales IPO Prospectus
Visaman Global Sales Limited Contact Details
Visaman Global Sales Limited
C/o., Jain Traders, 8, Sorathiawadi
Near Narmada, 80 Feet Road,
Rajkot- 360002
Phone: +91 90237 30627
Email: cs@visamansales.com
Website: https://visamanglobalsales.com/
Visaman Global Sales IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: visamanglobal.smeipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html