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: 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

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.

Go to Mainboard IPOs Section: Click