January 28, 2025
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Varindera Constructions IPO GMP, Review, Subscription Status, allotment & listing details @ Chanakyanipothi.com
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Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
Latest updates of Varindera Constructions IPO Listing
On 20th January 2025, the scrip is listed at Rs. 542, as against premium of Rs. 143. The listing is marginally below the expectations of the grey market which anticipated listing at around Rs. 570.
What is the last GMP of Varindera Constructions IPO?
Rs. 143
Varindera Constructions IPO Subscriptions
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| Applications: ? / (?x) Amount wise Bids recd. Rs. ? Crore |
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Who are the promoters of Varindera Constructions IPO?
VARINDER KUMAR GARG, SUSHMA GARG, VIVEK GARG AND VG FAMILY TRUST are the promoters of the company.
What are the Objects of Varindera Constructions IPO?
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
1. Capital expenditure towards purchase of equipments;
2. Funding the working capital requirements of the Company;
3. Repayment/prepayment in full or in part, of certain outstanding borrowings availed by the Company; and
4. General corporate purposes
What is the business of Varindera Constructions?
The company is an integrated engineering, procurement and construction (“EPC”) company with experience in construction of buildings projects including residential units, commercial complex, office, railway stations, hospitals, high court and library as well as undertaking infrastructure projects such as metro depot, aircraft hangar and roads.
In the last 10 Fiscal Years (ended March 31, 2024), it has executed and delivered 31 construction projects with an aggregate Contract Value of ₹ 52,932.66 million, across 11 states in India as well as overseas, in Mauritius. It undertook its first overseas project in 2018, in Mauritius, and has currently 7 ongoing projects in Mauritius and Maldives. 23.92 % of its revenue from operations for Fiscal Year 2024, aggregating to ₹ 3,322.82 million, was from its overseas projects. As on March 31, 2024, it has 20 ongoing projects in India and overseas, with an Order Book of ₹ 38,447.93 million (out of which overseas projects constitute ₹ 6,071.23 million), all of which are either projects awarded by the agencies affiliated with the central government or are funded by multilateral/bilateral institutions and awarded by the government of the respective country. According to the CRISIL Report, it is one of the fastest growing construction companies in terms of revenue from operations, compared to all major listed construction companies, between Fiscal Year 2019 to Fiscal Year 2024 with growth in revenue from operations at a CAGR of 39.40% during this period.
For more information, click : https://www.vclgroup.in/
Varindera Constructions IPO GMP, Particulars & Guidance
| Varindera Constructions IPO Details | |
| IPO opens on | ? 2025 |
| IPO closes on | ? 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ? Shares / Rs 1200 Crore |
| * Fresh Issue | ? Shares / Rs 900 Crore |
| * Offer for Sale | ? Shares / Rs 300 Cr |
| Face Value per share: | Rs. 1 |
| Price Band | Rs.? |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | ? Shares |
| Listing will at | BSE, NSE |
| Shares offered in the IPO? | Shares | Rs. in Crore |
| QIB (75 %) | ||
| RII (10 %) | ||
| Employees | – | – |
| Total Shares | ||
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in this IPO? | Amount Rs. |
|
| Min Retail Application | ? Shares | ? |
| Max Retail Application | ? Shares | ? |
| Small HNI (Min) application | ? Shares | ? |
| Small HNI (Max) application | ? Shares | ? |
| Big HNI Application | ? Shares | ? |
| What is the timetable of the IPO? | |
| IPO opens on | 2025 |
| IPO Closes on | 2025 |
| IPO Allotment on | 2025 |
| Unblocking of ASBA | 2025 |
| Credit of Shares | 2025 |
| Listing on | 2025 |
| Registered Office of the company | |
| Office No. 613, 6th Floor, Plot No. 4, Vishwadeep Tower, District Centre, Janakpuri, New Delhi, India, 110058 |
|
| Who are the Lead Managers of the IPO? ICICI SECURITIES Ltd EQUIRUS CAPITAL Pvt ltd IIFL SECURITIES Ltd |
|
| Registrar to IPO | |
| Link Intime India Pvt ltd |
| Varindera Constructions IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2021-22 | 997.15 | 76.15 | 4.91 | 35.32 |
| 2022-23 | 1063.81 | 109.01 | 7.03 | 35.34 |
| 2023-24 | 1403.98D | 143.38 | 9.25 | 33.02 |
| Book Value of the Share on 31.03.2024 |
Rs. | 32.62 | ||
| BV after the IPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | ? | ||
| Ratio Analysis | |
| Price /EPS | ? |
| Price/BV | ? |
| Debt/ Equity | ? |
How this IPO compares with the Peers?
| As on date of DRHP | FV | Price/ | PE |
| Rs. | Book Value | Ratio of | |
| Verindera Constructions | 1 | ? | |
| Ahluwalia Contracts | 2 | 21.26 | |
| Capacite Infra | 10 | 24.20 | |
| NCC ltd | 2 | 27.27 | |
| PSP Projects | 10 | 19.52 | |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Varindera Constructions IPO Review * by Paresh Gordhandas, CA & Research Analyst.
Will update soon
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