Vruddhi Engineering Works Limited IPO Detail
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.
Company Promoters
Ms. Bindi Kunal MehtaIPO Details
| IPO Opening Date | Mar 21, 2024 |
| IPO Closing Date | Mar 26, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹66 - 70 per equity share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | BSE SME |
| Issue Size | ₹4.76 Cr |
| Fresh Issue | ₹4.76 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.31x | 0.00x | 0.00x | 0.29x | 1.89x | 0.00x |
IPO Tentative Timetable
The Vruddhi Engineering Works Limited IPO open date is Mar 21, 2024, and the close date is Mar 26, 2024. The issue may list on Apr 01, 2024.
| IPO Open Date | Mar 21, 2024 |
| IPO Close Date | Mar 26, 2024 |
| Basis of Allotment Date | Mar 27, 2024 |
| Initiation of Refunds | Mar 28, 2024 |
| Credit of Shares to Demat Account | Mar 28, 2024 |
| IPO Listing Date | Apr 01, 2024 |
IPO Lot Size
The Vruddhi Engineering Works Limited IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹140000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹140000 |
| Maximum | 1 | 2000 | ₹140000 |
IPO Promoter Holding
| Pre Issue Share Holding | 96.34% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3.02 | 0.44 | -0.88 |
| 31-Mar-22 | 100.14 | 220.65 | 9.44 |
| 31-Mar-23 | 782.33 | 1309.62 | 75.33 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- To meet working capital requirements;
- General Corporate Purpose.
Vruddhi Engineering Works Limited IPO Registrar:
Bigshare Services Pvt Ltd
Vruddhi Engineering Works Limited IPO Lead Manager(s):
Fedex Securities Pvt Ltd
Company Contact Information:
Vruddhi Engineering Works Limited
Office No 603, 6th Floor,
Cello - The Plaza, V P Road,
Vile Parle West, Mumbai - 400056
