VELS Film International IPO will open for subscription from 10 March 2023. the company aims for an issue size of ₹33.74 Cr through this IPO.
About Company
A member of the South Indian Film Chamber of Commerce, VELS Film International is primarily in the business of the production of films and the sale of film rights. The company’s contribution to the South Indian Film Industry is growing at a fast pace, particularly in the Tamil Film Industry which is the third biggest in India. The company promoter Dr. Ishari K Ganesh worked in the education sector and set up over 25 institutions with more than 25,000 students and with centers in India, Singapore, and the United Kingdom. Subsequently, the promoter shifted to focus on film production.
Dr. Ishari K Ganesh’s late father Shri Isari Velan was a renowned comedian in Tamil Cinema of yesteryears and that inspired him to act in several films as well. Being born to a great actor and comedian, entering the film industry was a natural progression for Dr. Ishari K Ganesh. The promoter is involved in the film industry since the movie ‘Vaaku Moolam’ in the year 1991. He has acted in multiple movies and the last movie in which he acted was S. Shankar’s ‘2.0’ which was released in 2018.
Basic details about the company
| Full name | VELS Film International Limited |
| Sector | Media & Entertainment |
| Industry | Film Production, Distribution & Entertainment |
| Company Website | https://velsfilminternational.com/ |
The objective of the Issue
- Film production;
- General Corporate Purpose;
- To meet the Issue Expenses
IPO Timetable
| IPO Opening date | 10 March 2023 |
| IPO Closing | 14 March 2023 |
| Basis of Allotment | 17 March 2023 |
| Initiation Refund | 20 March 2023 |
| Credit to Demat Account | 21 March 2023 |
| Listing Date | 22 March 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹33.74 Cr – 3,408,000 shares |
| Fresh Issue | ₹33.74 Cr – 3,408,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹99 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 172,800 shares (SS CORPORATE SECURITIES LIMITED) |
| Retail Allocation | 50% |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹118,800 |
| Retail (Max) | 1 | 1200 | ₹118,800 |
| HNI (Min) | 2 | 2,400 | ₹237,600 |
Reservation Details
| QIB Shares Offered | Nil |
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2022 | H1 FY 2023 | |
| Revenue | 26.62 | 46.24 |
| Expenses | 22.31 | 45.09 |
| Net income | 3.38 | 1.34 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | (1.33) | 85.58 | 3.56 |
| PE ratio | – | – | 27.81 |
| RONW (%) | (15.34) | 38.45 | 23.35 |
| NAV | 8.67 | 16.22 | 19.78 |
| Debt/Equity | – | – | 2.88 |
Company Promoters
- Dr. Ishari Kadhirvelan Ganesh
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | – |
Lead Manager(s)
- Khambatta Securities Limited
IPO Registrar
CAMEO CORPORATE SERVICES LIMITED
“Subramanian Building”,
#1, Club House Road,
Chennai – 600 002, Tamil Nadu
Telephone: 044-28460390
Email: investor@cameoindia.com
Website: www.cameoindia.com
Contact Details
VELS FILM INTERNATIONAL LIMITED
No. 521/2, Anna Salai Nandanam,
Chennai-600035, Tamil Nadu
Phone: 044 24315541/ 542
E-mail: info@velsfilminternational.com
Website: www.velsfilminternational.com
Allotment Status
VELS Film IPO allotment status will be available on Cameo Corporate Services’ website. Click on this link to get allotment status.
Final thoughts
VELS Film International IPO is going to hit Dalal street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
