Vruddhi Engineering Works Limited IPO
BSE SMEListed On: Apr 3, 2024 at ₹ 71.0
₹ 280000 /4000 Shares
*Min Investment
26 Mar, 2024
Open Date28 Mar, 2024
Close Date01 Apr, 2024
Allotment Date03 Apr, 2024
Listing DateVruddhi Engineering Works Limited IPO Issue Details
- Issue Price ₹66-70 per equity share
- Face Value ₹10 Per Equity Share
- Total Issue Size 6,80,000 shares(aggregating up to ₹4.76 crore)
- Fresh Share 6,80,000 shares(aggregating up to ₹4.76 crore)
- Listing at BSE SME
- List Price 71.0
- Listing Date 2024-04-03
- Lead Manager Fedex Securities Pvt Ltd
- Registrar Bigshare Services Pvt Ltd
Market Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The following 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 | ₹1,40,000 |
| Retail(max) | 1 | 2000 | ₹1,40,000 |
| NII (min) | 2 | 4,000 | ₹2,80,000 |
Vruddhi Engineering Works Limited IPO Details
Vruddhi Engineering Works Limited IPO is an SME IPO, priced at ₹66-70 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the BSE SME platform. The IPO comprises a total issue of 6,80,000 equity shares, aggregating up to ₹4.76 crores..
The IPO bidding window is open from Mar 26, 2024 to Mar 28, 2024. The allotment is expected to be finalized on Apr 1, 2024, and the tentative listing date is Apr 3, 2024.
The minimum lot size for Retail investors is 2000 shares, with a minimum investment of ₹1,40,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,80,000.
Fedex Securities Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Rikhav Securities Limited will act as the market maker for this issue.
Vruddhi Engineering Works Limited IPO Subscription Analysis And Details
| As on | QIB / NII | Retail | Total |
|---|---|---|---|
| Shares Offered / Reserved | 136,000 / 102,000 | 238,000 | 476,000 |
Day 1 26-03-24 06:00 PM | 0.00 / 0.39 x | 1.75 x | 0.95 x |
Day 2 27-03-24 06:00 PM | 2.63 / 1.29 x | 6.85 x | 4.45 x |
Day 3 28-03-24 06:00 PM | 1.05 / 28.09 x | 19.63 x | 12.50 x |
Vruddhi Engineering Works Limited Valuations
Vruddhi Engineering Works Limited Company Financials
| 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | |
|---|---|---|---|
| Assets | 782.33 | 100.14 | 3.02 |
| Revenue | 1,309.62 | 220.65 | 0.44 |
| Profit After Tax | 75.33 | 9.44 | -0.88 |
About Vruddhi Engineering Works Limited Company
Established in 2020, Vruddhi Steel Limited offers mechanical splicing solutions to the real estate, construction, and infrastructure industries by developing, designing, and supplying reinforcement couplers.
Its offering list comprises:
rebar couplers on customer-specific demand;
on-site threading of the couplers; and
trading in threading machines and spare parts.
The major customers of Vruddhi Steel are construction contractors, real estate developers, and infrastructure companies. As of March 31, 2023, the company served more than 84 customers in the mechanical splicing vertical and supplied steel products to more than 2 customers in the trading sector.
As of June 30, 2023, the company had more than 20 people working at the warehouse and its head office.
Vruddhi Engineering Works Limited - Promoter(s)
Ms. Bindi Kunal Mehta
Pre Issue Share Holding : 96.34%
Post Issue Share Holding : %
Vruddhi Engineering Works Limited IPO - Issue Objectives
To meet working capital requirements
General Corporate Purpose.
Vruddhi Engineering Works Limited IPO - Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Vruddhi Engineering Works Limited | 242.66 | 242.66 | 42.71 | N/A | 35.51 | 1.64 | Standalone |
| Shiv Aum Steels Limited | 10.53 | 10.53 | 70.4 | 29.63 | 14.95 | N/A | Consolidated |
| Sru Steels Ltd | 0.87 | 0.87 | 11.09 | 11.47 | 5.26 | N/A | Consolidated |
Notes:
- Net Asset Value per Equity Share is calculated as net worth attributable to equity shareholders as at the end of the fiscal period/year divided by the weighted average number of Equity Shares used in calculating basic earnings per share.
- The P/E Ratio has been computed based on the closing market price of equity shares on BSE Ltd/NSE on July 28, 2023, divided by the Diluted EPS for the year ended March 31, 2023, except for Shiv Aum Steels Limited where the last trading closing price was taken i.e., June 23, 2023.
- Return on Net Worth is computed as restated net profit/(loss) after tax attributable to equity holders of our Company divided by restated Net Worth for Equity Shareholders of our Company.
Contact Details
Vruddhi Engineering Works Limited
Office No 603, 6th Floor, Cello - The Plaza, V P Road, Vile Parle West, Mumbai - 400056
+91- 022 26128915
Registrar Contact Details
Bigshare Services Pvt Ltd
+91-22-6263 8200
Vruddhi Engineering Works Limited IPO - FAQs
Ans. Vruddhi Engineering Works Limited IPO is a SME IPO. The issue is priced at ₹66-70 per equity share. The minimum order quantity is 2000 Shares. The IPO opens on Mar 26, 2024, and closes on Mar 28, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Ans. The Vruddhi Engineering Works Limited IPO opens on Mar 26, 2024 and closes on Mar 28, 2024.
Ans. You can track the real-time subscription numbers using the links below:
Ans. The size of Vruddhi Engineering Works Limited IPO is 680,000 shares(aggregating up to ₹4.76 Cr).
Ans. The Vruddhi Engineering Works Limited IPO price band is set between ₹66-70 per equity share.
Ans. To apply for Vruddhi Engineering Works Limited IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Vruddhi Engineering Works Limited IPO in the List of IPOs
- - Press Apply Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Vruddhi Engineering Works Limited IPO is Apr 1, 2024.
Ans. The Vruddhi Engineering Works Limited IPO will be listed on Apr 3, 2024.
Ans. Follow the steps to check the Vruddhi Engineering Works Limited IPO allotment status online.
