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Vruddhi Engineering Works IPO is a book built issue of Rs 4.76 crores. The issue is entirely a fresh issue of 6.8 lakh shares.
Vruddhi Engineering Works IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for Vruddhi Engineering Works IPO was finalized on Monday, April 1, 2024. The shares got listed on BSE SME on April 3, 2024.
Vruddhi Engineering Works IPO price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 2000 Shares. The minimum amount of investment required by retail investors is ₹140,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹280,000.
Fedex Securities Pvt Ltd is the book running lead manager of the Vruddhi Engineering Works IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Vruddhi Engineering Works IPO is Rikhav Securities.
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 |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 680,000 shares (aggregating up to ₹4.76 Cr) |
| Fresh Issue | 680,000 shares (aggregating up to ₹4.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,843,584 |
| Share holding post issue | 2,523,584 |
| Market Maker portion | 36,000 shares Rikhav Securities |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Vruddhi Engineering Works IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
| Lot Size Calculator | |||
Ms. Bindi Kunal Mehta is the promoter of the company.
| Share Holding Pre Issue | 96.34% |
| 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 |
| Revenue | 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 Rs 17.67 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 16.20% |
| ROCE | 15.53% |
| Debt/Equity | 1.19 |
| RoNW | 16.20% |
| P/BV | 0.1 |
| PAT Margin (%) | 4.38 |
| 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...
The Vruddhi Engineering Works IPO is subscribed 12.67 times on March 28, 2024 7:02:06 PM. 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 (times) |
|---|---|
| QIB | 1.05 |
| NII | 28.14 |
| Retail | 20.10 |
| Total | 12.67 |
Total Application : 3,063 (25.53 times)
| Listing Date | April 3, 2024 |
| BSE Script Code | 544157 |
| NSE Symbol | |
| ISIN | INE0OMZ01013 |
| Final Issue Price | ₹70 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹70.00 |
| ₹71.00 |
| ₹71.00 |
| ₹74.55 |
| ₹74.55 |
Vruddhi Engineering Works Limited
Office No 603, 6th Floor,
Cello - The Plaza, V P Road,
Vile Parle West, Mumbai - 400056
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
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Vruddhi Engineering Works IPO is a SME IPO of 680,000 equity shares of the face value of ₹10 aggregating up to ₹4.76 Crores. The issue is priced at ₹66 to ₹70 per share. The minimum order quantity is 2000 Shares.
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 Shares, and the minimum amount required is ₹140,000.
You can apply in Vruddhi Engineering Works IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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