April 3, 2024
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Vruddhi Engineering Works IPO GMP Guidance & Subscription Status at Chanakyanipothi.com,
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Vruddhi Engineering Works IPO Post listing Review:
On 3 April, the scrip is listed at Rs. 71, premium of 1.43% over the issue-price of Rs. 56. This listing has been in line with the expectations of the grey market.
What is the latest GMP of Vruddhi Engineering Works IPO?*
Premium: Rs.0
Subject to Rs. 0
Check Subscription status of Vruddhi Engineering Works IPO
On 28 March 2024 5.00 pm (Day 3) (Closed)
Review:
QIB: 340000 Shares 1.05 T
NII: 102000 Shares 28.14 T
RII: 238000 Shares 20.14 T
Total: 680000 Shares 12.67 T
What is the business of Vruddhi Engineering Works?
Vruddhi Engineering Works is mainly engaged in offering mechanical splicing solutions to the real estate, construction and infrastructure industry by designing, engineering and supplying of rebar couplers. The Company’s offering under this vertical includes (a) supply of rebar couplers as per the customer needs; (b) on-site threading services of the couplers; and (c) trading in threading machines and spares. The Company believes that it offers an end-to-end mechanical splicing solutions ranging from design, manufacturing, testing, logistics and rebar threading. It believes that the rebar couplers offered by the Company is an alternative to the conventional splicing methods followed in the construction industry.
The Company supplies and provides its mechanical splicing solutions to construction contractors, real estate developers and infrastructure companies. The Company supplies its rebar couplers in the domestic market. Its revenue from the sale of rebar couplers is Rs. 269.72 lakhs, Rs.450.27 lakhs, Rs. 105.83 lakhs and Rs. 0.44 lakhs for the period ended September 30, 2023, Fiscal 2023, Fiscal 2022 and Fiscal 2021, respectively
Get more information about the company @ http://www.vruddhicouplers.com/
| Vruddhi Engineering Works IPO Details | |
| IPO opens on | 26 March 2024 |
| IPO closes on | 28 March 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 680000 Sh /Rs 4.76 Cr |
| * Fresh Issue | 680000 Sh /Rs 4.76 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Market Maker Portion | 0 Sh. |
| Net offer to Public | 680000 Sh./Rs.4.76 Cr |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 66-70 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | BSE SME |
| Shares offered in Vruddhi Engineering Works IPO | ||
| Shares | Rs. (Cr) | |
| QIB (0%) | 340000 | 2.38 |
| NII (50%) | 102000 | 0.71 |
| RII (50%) | 238000 | 1.67 |
| Total Shares | 680000 | 4.76 |
| Retail portion will be oversubscribed by | 119 | |
| Forms | ||
| How much Shares to Apply in Vruddhi Engineering Works IPO? | ||
| Min Retail Application | 2000 Sh | Rs. 140000 |
| Min HNI Application | 4000 Sh | Rs.280000 |
Who is the Promoter of Vruddhi Engineering Works IPO?
The company’s promoter is BINDI KUNAL MEHTA
What are the Objects of Vishwas Agri Seeds IPO?
The Offer comprises only of a Fresh Issue of Equity shares.
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 IPO Tentative timetable | |
| IPO opens on | 26 March 2024 |
| IPO Closes on | 28 March 2024 |
| IPO Allotment on | 1 April 2024 |
| Refund Initiation | 2 April 2024 |
| Credit of Shares | 2 April 2024 |
| Listing on | 3 April 2024 |
| Registered Office of the Company Vruddhi Engineering Works Limited Office No 603, 6th Floor, Cello – The Plaza, V P Road, Vile Parle West, Mumbai – 400056 |
| Who is the Lead Manager of Vruddhi Engineering Works IPO? Fedex Securities Pvt Ltd |
| Who is the Registrar to IPO? Bigshare Services Pvt Ltd |
| Vruddhi Engineering Works IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 0.44 | -0.01 | -0.55 | 733 |
| 2021-22 | 2.21 | 0.09 | 5.90 | 98.74 |
| 2022-23 | 13.10 | 0.75 | 15.17 | 35.51 |
| Book Value of the Share on | 31.03.2023 | Rs 42.71 | ||
| BV of the Share at cap price | after the IPO | Rs. ? | ||
| Offer Price/upper band | Rs. 70 | |||
| Vruddhi Engineering Works IPO Key Performance indicators |
|
| Price/last EPS of 22-23 | 4.61 |
| Price/BV Ratio | 1.64 |
| Upper price/BV after IPO | |
How Vruddhi Engineering Works IPO compares with the Peers?
| As per RHP | Face | Total Income | PE Ratio |
| Value | In Cr. | ||
| Vruddhi Engineering Works | 10 | 13.08 4.61 | |
| Shiv Aum | 10 | 495.92 | 29.63 |
| SRU Steel | 10 | 16.72 | 11.47 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Vruddhi Engineering Works IPO To the point Guidance
Vruddhi Engineering Works is mainly engaged in offering mechanical splicing solutions to the real estate, construction and infrastructure industry by designing, engineering and supplying of rebar couplers. The Company’s offering under this vertical includes (a) supply of rebar couplers as per the customer needs; (b) on-site threading services of the couplers; and (c) trading in threading machines and spares.
Size: The net size of the IPO is Rs. 4.76 Cr comprising of 680000 shares. The HNI portion is just Rs.0.71 Cr and Retail portion is Rs. 1.67 Cr. The Retail portion will get oversubscribed with only 119 applications. So, there is no worry about oversubscription.
Financial Snapshot: The company has shown sharp rise in the topline and its bottomline. In the year 2020-21, it had turnover of Rs. 44 lac and loss of Rs. 1 lacs which shot up to turnover of 13.10 Cr and profit of Rs. 0.75 Cr. in the year 20222-23, just prior to the IPO. Such rise in profits raises eyebrows. After such sharp rise in the profits, the shares are offered at PE multiple of 4.61. Not so attractive.
Quicklinks
Vruddhi Engineering Works IPO GMP Detail subscription allotment?
Vruddhi Engineering Works IPO
Vruddhi Engineering Works IPO FAQs
What is Vruddhi Engineering Works IPO?
Vruddhi Engineering Works is a SME IPO of 680000 equity shares of the face value of Rs. 10 aggregating up to Rs. 4.76 Crores. The issue is priced at Rs.70 per share. The minimum order quantity is 2000 Shares.
When will Vruddhi Engineering Works IPO open?
Vruddhi Engineering Works IPO opens on March 26, 2024, and closes on March 28, 2024.
What is the lot size of Vruddhi Engineering Works IPO?
Vruddhi Engineering Works IPO lot size is 2000 Shares, and the minimum amount required is Rs.140000.
How to apply for Vruddhi Engineering Works IPO?
You can apply in Vruddhi Engineering Works IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Vruddhi Engineering Works IPO allotment?
The finalization of Basis of Allotment for Vruddhi Engineering Works IPO will be done on April 1, 2024, and the allotted shares will be credited to your demat account by April 2, 2024.
When is Vruddhi Engineering Works IPO listing date?
Vruddhi Engineering Works IPO listing date is April 03, 2024.
