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Vruddhi Engineering Works IPO is a book build issue of ₹4.76 crores. The issue is entirely a fresh issue of 0.07 crore shares of ₹4.76 crore.
Vruddhi Engineering Works IPO bidding started from Mar 26, 2024 and ended on Mar 28, 2024. The allotment for Vruddhi Engineering Works IPO was finalized on Apr 1, 2024. The shares got listed on BSE SME on Apr 3, 2024.
Vruddhi Engineering Works IPO price band is set at ₹70.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,32,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,80,000.
Fedex Securities Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Rikhav Securities Ltd..
Refer to Vruddhi Engineering Works IPO RHP for detailed Information.
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | April 3, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹66 to ₹70 per share |
| Issue Price Final | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 6,80,000 shares (aggregating up to ₹4.76 Cr) |
| Reserved for Market Maker | 36,000 shares Rikhav Securities Ltd. (aggregating up to ₹0.2520 Cr) |
| Net Offered to Public | 6,44,000 shares (aggregating up to ₹4.51 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 18,43,584 shares |
| Share Holding Post Issue | 25,23,584 shares |
Vruddhi Engineering Works IPO offers total 6,80,000 shares. Out of which 3,20,000 (47.06%) allocated to QIB, 98,000 (14.41%) allocated to NII, 2,26,000 (33.24%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 36,000 (5.29%) |
| QIB Shares Offered | 3,20,000 (47.06%) |
| NII (HNI) Shares Offered | 98,000 (14.41%) |
| Retail Shares Offered | 2,26,000 (33.24%) |
| Total Shares Offered | 6,80,000 (100.00%) |
Vruddhi Engineering Works IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tue, Mar 26, 2024 |
| IPO Close Date | Thu, Mar 28, 2024 |
| Tentative Allotment | Mon, Apr 1, 2024 |
| Initiation of Refunds | Tue, Apr 2, 2024 |
| Credit of Shares to Demat | Tue, Apr 2, 2024 |
| Tentative Listing Date | Wed, Apr 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Mar 28, 2024 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,40,000 |
| Retail (Max) | 1 | 2,000 | ₹1,40,000 |
| HNI (Min) | 2 | 4,000 | ₹2,80,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Established in 2020, Vruddhi Steel Limited provides mechanical splicing solutions to the real estate, construction and infrastructure industries through the development, design and supply of reinforcement couplers.
The company's offering list includes:
Vruddhi Steel's customers include construction contractors, real estate developers and infrastructure companies. As of March 31, 2023, the company has served around 84 customers in the mechanical splicing vertical and supplied steel products to over 2 customers in the trading sector.
As of June 30, 2023, the company employed over 20 people at its warehouse and head office.
Vruddhi Engineering Works Limited's revenue increased by 493.53% and profit after tax (PAT) rose by 697.99% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 808.58 | 782.33 | 100.14 | 3.02 |
| Total Income | 935.36 | 1,309.62 | 220.65 | 0.44 |
| Profit After Tax | 41.01 | 75.33 | 9.44 | -0.88 |
| Net Worth | 253.13 | 212.12 | 9.56 | 0.12 |
| Reserves and Surplus | 68.77 | 118.55 | 8.56 | -0.88 |
| Total Borrowing | 301.91 | 323.37 | 47.49 | 2.22 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Vruddhi Engineering Works IPO is ₹17.67 Cr.
KPI as of Sat, Sep 30, 2023.
| KPI | Values |
|---|---|
| ROE | 16.20% |
| ROCE | 15.53% |
| Debt/Equity | 1.19 |
| RoNW | 16.20% |
| PAT Margin | 4.38% |
| Price to Book Value | 0.10 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.09 | 2.99 |
| P/E (x) | 17.13 | 23.45 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[Dilip Davda] The company is operating on third party contract basis and has no own manufacturing unit. It marked boosted top and bottom lines from FY23 onwards. Based on annualized super earnings for FY24, the issue appears aggressively priced. Post-IPO, it has a tiny equity capital indicating longer gestation period for migration to mainboard. There is no harm in skipping this pricey issue. Read detail review...
| Listing Date | April 3, 2024 |
| BSE Script Code | 544157 |
| NSE Symbol | |
| ISIN | INE0OMZ01013 |
| Final Issue Price | ₹70 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹71.00 |
| Low | ₹71.00 |
| High | ₹74.55 |
| Last Trade | ₹74.55 |
Vruddhi Engineering Works Ltd.
Office No 603, 6th Floor,
Cello - The Plaza, V P Road,
Vile Parle West, Mumbai - 400056
Mumbai, Maharashtra
Phone: +91- 022 26128915
Email: cs@vruddhicouplers.com
Website: http://www.vruddhicouplers.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Vruddhi Engineering Works IPO is a SME IPO of 6,80,000 equity shares of the face value of ₹10 aggregating up to ₹4.76 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on March 26, 2024, and closes on March 28, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Vruddhi Engineering Works IPO using UPI as a payment gateway. Zerodha customers can apply in Vruddhi Engineering Works IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vruddhi Engineering Works IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vruddhi Engineering Works IPO opens on March 26, 2024 and closes on March 28, 2024.
Vruddhi Engineering Works IPO lot size is 2000, and the minimum amount required for application is ₹1,40,000.
You can apply in Vruddhi Engineering Works 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 Vruddhi Engineering Works IPO will be done on Monday, April 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, April 2, 2024. Check the Vruddhi Engineering Works IPO allotment status.
The Vruddhi Engineering Works IPO listing date is on Wednesday, April 3, 2024.
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