Vruddhi Engineering Works IPO is a book built issue of Rs 4.76 crores. The issue is entirely a fresh issue of 6.8 lakh shares.
Vruddhi Engineering Works IPO opens for subscription on March 21, 2024 and closes on March 26, 2024. The allotment for the Vruddhi Engineering Works IPO is expected to be finalized on Wednesday, March 27, 2024. Vruddhi Engineering Works IPO will list on BSE SME with tentative listing date fixed as Monday, April 1, 2024.
Vruddhi Engineering Works IPO price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
Fedex Securities Pvt Ltd is the book running lead manager of the Vruddhi Engineering Works IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Vruddhi Engineering Works IPO DRHP for detailed information.
Vruddhi Engineering Works IPO Details
| IPO Date | March 21, 2024 to March 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 680,000 shares (aggregating up to ₹4.76 Cr) |
| Fresh Issue | 680,000 shares (aggregating up to ₹4.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,843,584 |
| Share holding post issue | 2,523,584 |
Vruddhi Engineering Works IPO Reservation
| 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 |
Vruddhi Engineering Works IPO Timeline (Tentative Schedule)
Vruddhi Engineering Works IPO opens on March 21, 2024, and closes on March 26, 2024.
| IPO Open Date | Thursday, March 21, 2024 |
| IPO Close Date | Tuesday, March 26, 2024 |
| Basis of Allotment | Wednesday, March 27, 2024 |
| Initiation of Refunds | Thursday, March 28, 2024 |
| Credit of Shares to Demat | Thursday, March 28, 2024 |
| Listing Date | Monday, April 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 26, 2024 |
Vruddhi Engineering Works IPO Lot Size
Investors can bid for a minimum of 2000 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 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
| Lot Size Calculator | |||
Vruddhi Engineering Works IPO Promoter Holding
Ms. Bindi Kunal Mehta is the promoter of the company.
| Share Holding Pre Issue | 96.34% |
| Share Holding Post Issue |
About Vruddhi Engineering Works Limited
Established in 2020, Vruddhi Steel Limited provides mechanical splicing solutions to the real estate, construction and infrastructure industries through the development, design and supply of reinforcement couplers.
The company’s offering list includes:
- supply of rebar couplers as per customer requirements;
- on-site threading of the couplers; and
- trading in threading machines and spare parts.
Vruddhi Steel’s customers include construction contractors, real estate developers and infrastructure companies. As of March 31, 2023, the company has served around 84 customers in the mechanical splicing vertical and supplied steel products to over 2 customers in the trading sector.
As of June 30, 2023, the company employed over 20 people at its warehouse and head office.
Vruddhi Engineering Works Limited Financial Information (Restated)
Vruddhi Engineering Works Limited’s revenue increased by 493.53% and profit after tax (PAT) rose by 697.99% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| 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 |
| Amount in ₹ Lakhs | |||
Key Performance Indicator
The market capitalization of Vruddhi Engineering Works IPO is Rs 17.67 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 16.20% |
| ROCE | 15.53% |
| RoNW | 16.20% |
| P/BV | 0.1 |
| PAT Margin (%) | 4.38 |
Check Vruddhi Engineering Works IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.09 | 2.99 |
| P/E (x) | 17.13 | 23.45 |
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 March 31, 2023 that is available in RHP.
Objects of the Issue (Vruddhi Engineering Works IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Vruddhi Engineering Works Limited Contact Details
Vruddhi Engineering Works Limited
Office No 603, 6th Floor,
Cello – The Plaza, V P Road,
Vile Parle West, Mumbai – 400056
Phone: +91- 022 26128915
Email: cs@vruddhicouplers.com
Website: http://www.vruddhicouplers.com/
Vruddhi Engineering Works IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html