Bookbuilding IPO | ₹25 Cr | Listed at NSE SME | Mon, Dec 3, 2012 - Wed, Dec 5, 2012
Veto Switchgears IPO is a book build issue of ₹25.01 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹25.01 crore.
Veto Switchgears IPO bidding started from Dec 3, 2012 and ended on Dec 5, 2012. The shares got listed on NSE SME on Feb 13, 2012.
Veto Switchgears IPO price band is set at ₹50 per share. The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,50,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹3,00,000.
Indian Overseas Bank is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Keynote Capitals Ltd..
Refer to Veto Switchgears IPO RHP for detailed Information.
IPO Open
Mon, Dec 3, 2012
IPO Close
Wed, Dec 5, 2012
Issue Price
₹50 per share
Market Cap (Pre-IPO)
₹83.30 Cr
| IPO Date | 3 to 5 Dec, 2012 |
| Listed on | Mon, Feb 13, 2012 |
| Face Value | ₹10 per share |
| Price Band | ₹48 to ₹50 |
| Issue Price | ₹50 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 50,01,000 shares (agg. up to ₹25 Cr) |
| Reserved for Market Maker | 8,34,000 shares Keynote Capitals Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 41,67,000 shares (agg. up to ₹21 Cr) |
| Net Offered to Public | 41,67,000 shares (agg. up to ₹21 Cr) |
| Share Holding Pre Issue | 1,16,60,000 shares |
| Share Holding Post Issue | 1,66,60,000 shares |
| NSE Symbol | 539331 VETO |
| ISIN | INE918N01018 |
Veto Switchgears IPO comprises a total issue size of 50,00,000 shares. The net offer to the public is 41,66,000 shares, after excluding 8,34,000 shares allotted on a firm basis. Of the Net offer 10,41,500 (25.00%) are allocated to QIB, 16,66,400 (40.00%) allocated to NII 14,58,100 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 10,41,500 | 25.00% | 20.83% |
| NII (HNI) Shares Offered | 16,66,400 | 40.00% | 33.33% |
| Retail Shares Offered | 14,58,100 | 35.00% | 29.16% |
| Firm Reservations | |||
| Market Maker Shares Offered | 8,34,000 | 16.68% | |
| Total Shares Offered | 50,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,50,000 |
| Retail (Max) | 1 | 3,000 | ₹1,50,000 |
| HNI (Min) | 2 | 6,000 | ₹3,00,000 |
Incoporated in 2007, Veto Switchgears and Cables Ltd is an ISO 9001:2008 certified company, engaged in the manufacture and sale of wires & cables and electrical accessories in India. Veto Switchgears product portfolio ranges from industrial cables, stand cables to telephone & co-axial wires, from general switches to modular switches, from ceiling fans to rechargeable fans, compact fluorescent lamps and other electrical accessories.
Veto Switchgears manufacturing unit located in Hardwar, Uttarakhand. Veto Switchgears supply their products under the brands "VETO" and "VIMAL POWER".
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Modernisation of existing facility at Hardwar, Uttarakhand | 4.70 |
| 2 | Incremental long-term working capital requirement | 15.80 |
| 3 | Enhancement of our Company’s brand through advertising and other brand-building activities | 2.00 |
| 4 | General Corporate Purposes | 1.00 |
| Total | 23.50 |
| KPI | |
|---|---|
| RoNW | 26.66% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% | 69.99% |
| Market Cap | ₹83.30 Cr. |
The Veto Switchgears IPO is subscribed 1.56 times on December 5, 2012 5:00:00 PM (Day 3). The public issue subscribed 2.06 times in the retail category, 1.05 times in the QIB category, and 1.47 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.05 | 10,91,229 | |
| NII* | 1.47 | 25,89,384 | |
| Retail | 2.06 | 15,27,721 | |
| Total | 1.56 | 52,08,334 |
CRISIL has assigned a CRISIL SME fundamental grade of 'SME 4/5' (SME Four on Five) to the proposed IPO of the Company. The grade indicates that the fundamentals of the Company are superior compared to other SMEs in India. Read Veto Switchgears IPO Report
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees to intermediaries | 1.25 |
| 2 | Advertising, travelling and marketing expenses | 0.50 |
| 3 | Printing and stationery expenses | 0.05 |
| 4 | Statutory and other miscellaneous expenses | 0.20 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹50.00 |
| Open | ₹145.00 |
| Low | ₹144.00 |
| High | ₹148.10 |
| Last Trade | ₹145.45 |
Lead Manager Reports
Veto Switchgears IPO is a SME IPO of 50,01,000 equity shares of the face value of ₹10 aggregating up to ₹25 Crores. The issue is priced at ₹50 per share. The minimum order quantity is 3000.
The IPO opens on Mon, Dec 3, 2012, and closes on Wed, Dec 5, 2012.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Veto Switchgears IPO using UPI as a payment gateway. Zerodha customers can apply in Veto Switchgears IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Veto Switchgears IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Veto Switchgears IPO opens on Mon, Dec 3, 2012 and closes on Wed, Dec 5, 2012.
Veto Switchgears IPO lot size is 3000, and the minimum amount required for application is ₹1,50,000.
You can apply in Veto Switchgears IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Veto Switchgears IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Veto Switchgears IPO allotment status.
The Veto Switchgears IPO listing date is on Mon, Feb 13, 2012.
