Vruddhi Engineering Works IPO Review

 
Vruddhi Engineering Works IPO Review

IPO Open Date: March 21, 2024

IPO Close Date: March 26, 2024

IPO Price: ₹66 to ₹70 per share

Lot Size: 2000 Shares

Listing: April 1, 2024

Vruddhi Engineering Works is scheduled to hit the market on March 21, 2024 and close on March 26, 2024. Vruddhi Engineering Works plans to raise around ₹4.76 Cr through an IPO with a sale of up to 680,000 equity shares of ₹10 each. The Retail offered 35%, QIB Offered 50%, and HNI Offered 15%.

Vruddhi Steel, established in 2020, specializes in providing mechanical splicing solutions to the real estate, construction, and infrastructure sectors by developing, designing, and supplying reinforcement couplers. Their services include supplying rebar couplers tailored to customer specifications, on-site threading of couplers, and trading in threading machines and spare parts. The company's clientele comprises construction contractors, real estate developers, and infrastructure firms.

By March 31, 2023, Vruddhi Steel had served approximately 84 customers in the mechanical splicing domain and supplied steel products to more than 2 customers in the trading segment. As of June 30, 2023, the company had a workforce of over 20 individuals operating from its warehouse and head office.

Vruddhi Engineering Works


Vruddhi Engineering Works IPO Details

Vruddhi Engineering Works IPO opens on March 21, 2024, and closes on March 26, 2024. The Listing date for Vruddhi Engineering Works IPO is on April 1, 2024. The price band for IPO is ₹66 to ₹70 per share and lot size of 2000 Shares.

IPO DateMar 21, 2024 to Mar 26, 2024
Listing DateApril 1, 2024
Price₹66 to ₹70 per share
Lot Size2000 Shares
Issue Size₹4.76 Cr
Face Value₹10 per share

Vruddhi Engineering Works IPO Tentative Timetable

Vruddhi Engineering Works opening date is March 21, 2024 and close date is March 26, 2024. The IPO allotment date is March 27, 2024. The refund initiation of IPO is on March 28, 2024. The credit of shares in demat account is on March 28, 2024. The listing date is on April 1, 2024.

EventDate
IPO OpeningMar 21, 2024
IPO ClosingMar 26, 2024
IPO Allotment DateMar 27, 2024
Refund InitiationMar 28, 2024
Shares Credit to DematMar 28, 2024
Lisiting DateApril 1, 2024

Vruddhi Engineering Works IPO Lot Size

Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹140,000).

CategoryLotsSharesAmount
Retail(Minimum)12000₹140,000
Retail(Maximum)12000₹140,000
HNI (Minimum)24000₹280,000

Vruddhi Engineering Works IPO Promoter Holding

Pre Issue Share Holding96.34%
Post Issue Share Holding

Vruddhi Engineering Works IPO Review

Vruddhi Engineering Works Limited's IPO, with a market capitalization of Rs 17.67 Cr, offers investors a chance to be part of a company that has demonstrated remarkable financial performance. The company's revenue surged by 493.53%, and profit after tax (PAT) rose by 697.99% from March 31, 2022, to March 31, 2023. Vruddhi Steel Limited, a subsidiary of Vruddhi Engineering Works, caters to the real estate, construction, and infrastructure sectors by providing reinforcement couplers and related services, showcasing a diversified and in-demand product portfolio.

Potential investors should take note of key performance indicators like Return on Equity (ROE) at 16.20%, Return on Capital Employed (ROCE) at 15.53%, and Price-to-Book Value (P/BV) ratio at 0.1. The company's Profit After Tax (PAT) Margin of 4.38% indicates operational efficiency and profitability. With Pre-IPO EPS at Rs 4.09 and Post-IPO EPS at Rs 2.99, investors can gauge the company's earnings potential post the IPO launch. The objectives of the IPO, focusing on meeting working capital requirements and general corporate purposes, reflect a strategic plan for sustained growth and expansion in the market.

In conclusion, Vruddhi Engineering Works IPO presents an exciting opportunity for investors to participate in a company with a solid financial foundation and a clear growth trajectory. The company's commitment to innovation and customer satisfaction, coupled with its expanding customer base and workforce, positions it well for future success in the mechanical splicing industry. Investors looking for a promising investment prospect in the infrastructure sector may find Vruddhi Engineering Works IPO worth considering for potential long-term gains.

Vruddhi Engineering Works IPO Subscription Status (Bidding Details)

Table not found

Vruddhi Engineering Works IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Vruddhi Engineering Works IPO FAQs

What is Vruddhi Engineering Works IPO?

Vruddhi Engineering Works is issuing 680,000 equity shares with a face value of ₹10 each, totaling up to ₹4.76 Cr. The shares are being offered at a price of ₹66 to ₹70 each, with a minimum order quantity of 2000 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Vruddhi Engineering Works IPO will open?

Vruddhi Engineering Works will open on March 21, 2024 for QIB, NII, and Retail Investors.

When Vruddhi Engineering Works IPO will end?

Vruddhi Engineering Works will end on March 26, 2024.

What is Vruddhi Engineering Works IPO Size?

Vruddhi Engineering Works IPO size is 4.76 Cr.

What is Vruddhi Engineering Works IPO Price Band?

Vruddhi Engineering Works price band is ₹66 to ₹70 per share.

What is the Vruddhi Engineering Works IPO Allotment Date?

Vruddhi Engineering Works allotment date is March 27, 2024.

What is the Vruddhi Engineering Works IPO Listing Date?

Vruddhi Engineering Works listing date is April 01, 2024. The IPO is to be listed on BSE and NSE.

How to Vruddhi Engineering Works IPO through Zerodha?

To apply for the IPO “Vruddhi Engineering Works” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Vruddhi Engineering Works IPO through Upstox?

To apply for the IPO “Vruddhi Engineering Works” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Vruddhi Engineering Works IPO Allotment Status?

For Vruddhi Engineering Works IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Vruddhi Engineering Works IPO GMP?

You can check out here: Vruddhi Engineering Works IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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