Bookbuilding IPO | ₹5 Cr | Listed at BSE SME | Tue, Mar 26, 2024 - Thu, Mar 28, 2024
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 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,40,000 (2000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Mar 26, 2024
IPO Close
Thu, Mar 28, 2024
Issue Price
₹70 per share
Market Cap (Pre-IPO)
₹17.67 Cr
| IPO Date | 26 to 28 Mar, 2024 |
| Listed on | Wed, Apr 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 |
| Issue Price | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 6,80,000 shares (agg. up to ₹5 Cr) |
| Reserved for Market Maker | 36,000 shares Rikhav Securities Ltd. (agg. up to ₹0.2520 Cr) |
| Fresh Issue (Ex Market Maker) | 6,44,000 shares (agg. up to ₹5 Cr) |
| Net Offered to Public | 6,44,000 shares (agg. up to ₹5 Cr) |
| Share Holding Pre Issue | 18,43,584 shares |
| Share Holding Post Issue | 25,23,584 shares |
| BSE Script Code | 544157 |
| ISIN | INE0OMZ01013 |
Vruddhi Engineering Works IPO comprises a total issue size of 6,80,000 shares. The net offer to the public is 6,44,000 shares, after excluding 36,000 shares allotted on a firm basis. Of the Net offer 3,20,000 (49.69%) are allocated to QIB, 98,000 (15.22%) allocated to NII 2,26,000 (35.09%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 3,20,000 | 49.69% | 47.06% |
| NII (HNI) Shares Offered | 98,000 | 15.22% | 14.41% |
| Retail Shares Offered | 2,26,000 | 35.09% | 33.24% |
| Firm Reservations | |||
| Market Maker Shares Offered | 36,000 | 5.29% | |
| Total Shares Offered | 6,80,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| 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 |
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.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 8.09 | 7.82 | 1.00 | 0.03 |
| Total Income | 9.35 | 13.10 | 2.21 | 0.00 |
| Profit After Tax | 0.41 | 0.75 | 0.09 | -0.01 |
| NET Worth | 2.53 | 2.12 | 0.10 | 0.00 |
| Reserves and Surplus | 0.69 | 1.19 | 0.09 | -0.01 |
| Total Borrowing | 3.02 | 3.23 | 0.47 | 0.02 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet working capital requirements | 2.60 |
| 2 | General corporate purposes | 1.18 |
| KPI | Sep 30, 2023 |
|---|---|
| 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 (₹) | 4.09 | 2.99 |
| P/E (x) | 17.13 | 23.45 |
| Promoter Holding | 96.34% | |
| Market Cap | ₹17.67 Cr. |
The Vruddhi Engineering Works IPO is subscribed 12.67 times on March 28, 2024 7:02:06 PM (Day 3). The public issue subscribed 20.10 times in the retail category, 1.05 times in the QIB category, and 28.14 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 1.05 | 3,40,000 | 3,58,000 |
| NII* | 28.14 | 1,40,000 | 39,40,000 |
| Retail | 20.10 | 2,40,000 | 48,24,000 |
| Total | 12.67 | 7,20,000 | 91,22,000 |
Total Applications: 3,063
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager(s) fees including underwriting commission | 0.15 |
| 2 | Brokerage, selling commission and upload fees | 0.12 |
| 3 | Registrars to the issue | 0.01 |
| 4 | Legal Advisors | 0.01 |
| 5 | Advertising and marketing expenses | 0.08 |
| 6 | Regulators including stock exchanges | 0.08 |
| 7 | Printing and distribution of issue stationary | 0.03 |
| 8 | Others, if any (Market making, Other Intermediary fees, consultant fees, depositories, etc.) | 0.50 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹71.00 |
| Low | ₹71.00 |
| High | ₹74.55 |
| Last Trade | ₹74.55 |
Lead Manager Reports
Vruddhi Engineering Works IPO is a SME IPO of 6,80,000 equity shares of the face value of ₹10 aggregating up to ₹5 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on Tue, Mar 26, 2024, and closes on Thu, Mar 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 Tue, Mar 26, 2024 and closes on Thu, Mar 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 Tue, Apr 2, 2024. Check the Vruddhi Engineering Works IPO allotment status.
The Vruddhi Engineering Works IPO listing date is on Wed, Apr 3, 2024.
