Vruddhi Engineering Works IPO will open for subscription from 21 March 2024. The company aims for an issue size of ₹4.76 Cr through this IPO.
Company Overview
| Full name | Vruddhi Engineering Works Limited |
| Sector | Capital Goods |
| Industry | Engineering |
| Company Website | https://vruddhicouplers.com/ |
About Company
Vruddhi Engineering Works primarily specializes in providing mechanical splicing solutions to the real estate, construction, and infrastructure sectors by designing, engineering, and supplying rebar couplers. The company’s offerings in this vertical comprise (a) supplying rebar couplers tailored to customer requirements; (b) providing on-site threading services for the couplers; and (c) trading in threading machines and spare parts.
The company supplies its mechanical splicing solutions to construction contractors, real estate developers, and infrastructure companies. It distributes its rebar couplers in the domestic market. As of 31 March 2023, Vruddhi Engineering Works has served approximately 84 customers in the mechanical splicing vertical and has supplied over 2 customers in the trading of steel products.
In the domestic market, the company currently has a presence in Pune, Dhule, Surat, Mangalore, Hyderabad, Kolkata, and Bangalore, with the majority of its business coming from the Mumbai market. As of 30 June 2023, the company employed over 20 individuals at its warehouse and head office.
The Objectives of the Issue
- To meet working capital requirements;
- General Corporate Purpose.
Vruddhi Engineering Works IPO Timetable
| IPO Opening date | 21 March 2024 |
| IPO Closing | 26 March 2024 |
| Basis of Allotment | 27 March 2024 |
| Initiation Refund | 28 March 2024 |
| Credit to Demat Account | 28 March 2024 |
| Listing Date | 01 April 2024 |
Vruddhi Engineering Works IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹4.76 Cr – 680,000 shares |
| Fresh Issue | ₹4.76 Cr – 680,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot size | 2000 Shares |
| Shareholding pre-issue | 1,843,584 |
| Shareholding post-issue | 2,523,584 |
| Listing Exchange | BSE SME |
Vruddhi Engineering Works IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹140,000 |
| Retail (Max) | 1 | 2000 | ₹140,000 |
| HNI (Min) | 2 | 4,000 | ₹280,000 |
Vruddhi Engineering Works IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Vruddhi Engineering Works Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 0.44 | 220.65 | 1,307.69 |
| Expenses | 1.32 | 208.05 | 1,208.19 |
| Net income | (0.88) | 9.44 | 75.33 |
Vruddhi Engineering Works Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (0.55) | 5.90 | 15.17 |
| PE ratio | – | – | 4.35 – 4.61 |
| RONW (%) | (733.33) | 98.74 | 35.51 |
| NAV | 0.08 | 5.98 | 42.71 |
| ROCE (%) | (37.53) | 22.26 | 21.57 |
| EBITDA (%) | (198.26) | 6.50 | 10.33 |
| Debt/Equity | 1.00 | 41.48 | 9.12 |
Company Promoters
- Ms. Bindi Kunal Mehta
Promoter Holding
| Pre Issue Share Holding | 96.34% |
| Post Issue Share Holding |
Vruddhi Engineering Works IPO Lead Manager(s)
FEDEX SECURITIES PRIVATE LIMITED
B 7, 3rd Floor, Jay Chambers, Dayaldas Road,
Vile Parle – [East], Mumbai – 400 057, Maharashtra
Phone: +91 81049 85249
Email: mb@fedsec.in
Website: www.fedsec.in
Vruddhi Engineering Works Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Vruddhi Engineering Works Contact Details
VRUDDHI ENGINEERING WORKS LIMITED
Office No 603, 6th Floor, Cello – The Plaza, V P Road,
Vile Parle West-400056, Mumbai, Maharashtra
Phone: +91 022 26128915
E-mail: cs@vruddhicouplers.com
Website: www.vruddhicouplers.com
Vruddhi Engineering Works IPO Allotment Status
Vruddhi Engineering IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Vruddhi Engineering Works IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and 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
