Viaz Tyres IPO Analysis at Chanakyanipothi.com,
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On 1st March 2023, the scrip listed at Rs. 68 (Issue Price Rs.62)
Viaz Tyres IPO Guidance:
Ahmedabad Based company has shown steady rise in profitability and if we consider profits of 2021-22 to be genuine and also consistent then the offer price appears to be reasonable. Until now grey market has little fancy for this IPO. Reasonable oversubscription is expected in this IPO.
Viaz Tyres IPO Grey Market updates
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Viaz Tyres IPO Subscription Status
On 21 February 2023 @ 5.00 am (Day 3)
NII: 1532000 Shares, 5.32T
RII: 1532000 Shares, 6.21T
Total: 3064000 Shares 5.77T
Viaz Tyres: Company Details
The Company is engaged in manufacturing of rubber tubes for bicycles, two and three wheeleres, passanger vehicles and heavy load industrial vehicles. It also deals in ancillary products like Off The Road (OTR) Tyre tubes and Animal Driven Vehicle (ADV) Tubes, Engine Oil and Grease on white labeling bases. It has recently started selling bicycle tyres which it gets manufactured on job work basis, depending upon the market demands. It sells rubber tubes, bicycle tyres and ancillary products under the brand names . It sells its products in domestic as well as international markets. In order to capture more market share it is developing alternate brand .
It has recently ventured into trading of Tyres through exclusive distributorship of Maxxis Rubbers Private Limited Tyres for Turkey. It has exclusive distributorship for selling Tyres in the brand name Maxxis Rubbers Private Limited, for the territorial limits of Turkey. It has started the said business operations in the financial year 2022-23.
The promoters are basically farmers and their families along with them have been engaged in farming activities since decades. During COVID-19 outbreak and nationwide lockdowns, as normal business of the company was severely hampered, the company, in order utilize all available resources, was engaged in the business of Agro-commodity trading along with its existing business for the period of FY 2020 and 2021. However, post COVID-19 i.e., FY 2022, company
has been fully engaged in its main business, i.e., Rubber tube manufacturing and Tyre trading.
Its production facility with installed capacity of manufacturing 7,00,000 Tube per Month, located at Nandasan near Ahmedabad, Gujarat India.
As on September 30, 2022, it has total 15 domestic distributors for rubber tubes across India. Our distribution network is spread across 19 states.
For more information about the company, Click www.viaztyres.com
Viaz Tyres IPO Details | |
IPO opens on | 16 February 2023 |
IPO closes on | 21 February 2023 |
Issue Type | Book Built Issue IPO |
Issue Size | 3226000 Sh /Rs 20 Cr |
* Fresh Issue | 3226000 Sh /Rs 20 Cr |
* Offer for Sale | – Sh /Rs – Cr |
Face Value per share: | Rs. 10 |
Price Band | Rs.62 |
Employee discount | Rs. 0 per share |
Retail Lot Size | 2000 Shares |
Listing will at | NSE Sme |
Shares offered to | ||
Shares | Rs. (Cr) | |
QIB (00 %) | – | – |
NII (50 %) | 1532000 | 9.50 |
RII (50 %) | 1532000 | 9.50 |
Total Shares | 3064000 | 19.00 |
Retail portion will be oversubscribed by | 766 | |
Forms | ||
How much Shares to Apply? | ||
Min Retail Application | 2000 Sh | Rs. 124000 |
Max Retail Application | 4000 Sh | Rs. 248000 |
Promoters of the IPO
MR. JANAKKUMAR MAHENDRABHAI PATEL, MR. RAJESHKUMAR PRABHUDASBHAI PATEL, MR. PARICHAYKUMAR MAGANBHAI PATEL, MRS. HIMABEN JANAKKUMAR PATEL, MRS. NIRMABEN RAJESHKUMAR PATEL AND MRS. KENABEN PARICHAYKUMAR PATEL
Objects of the IPO:
The Company intends to utilize the Net Fresh Issue Proceeds for
1. Repayment or Prepayment or part repayment of Loan
2. To Meet Working Capital Requirements.
Viaz Tyres IPO Tentative timetable | |
IPO opens on | 16 February 2023 |
IPO Closes on | 21 February 2023 |
IPO Allotment on | 24 February 2023 |
Unblocking of ASBA | 27 February 2023 |
Credit of Shares | 28 February 2023 |
Listing on | 01 March 2023 |
Registered Office of Viaz Tyres |
915/916, Maple Trade, Near Surdhara Circle, SAL Hospital Road, Thaltej, Ahmedabad, Gujarat, India – 380 059 |
IPO Lead Managers |
Beeline Capital Advisors Pvt Ltd |
Registrar to the IPO |
Link Intime India Pvt. Ltd. |
Viaz Tyres IPO Financial & Analytical Ratios | ||||
Year | Total Income | Net Profit | EPS | RoNW |
Rs.in Cr | Rs.in Cr | Rs. | % | |
2019-20 | 19.94 | 0.15 | 0.39 | 3.35 |
2020-21 | 29.17 | 0.61 | 1.43 | 12.29 |
2021-22 | 29.33 | 1.47 | 3.46 | 22.94 |
Book Value of the Share on | 31.03.2022 | Rs.7.51 | ||
Book Value of the Share | after the IPO | Rs. | ||
Offer Price | Rs. 62 |
Ratio Analysis | |
Upper Price/last EPS | 17.91 |
Upper price/BV Ratio | 8.25 |
Upper price/BV after IPO |
Viaz Tyres IPO Peer Comparison:
The company does not have comparable listed peer therefore information related to peer group has not been provided.
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