Investors considering the issue can invest a minimum of one lot of 3,000 shares and in multiples of 3,000 shares thereafter.
The company completed pre-IPO placement of 8,40,000 shares for a consideration of Rs 32.76 crore with subscription from HNI investor Madhukar Sheth.
The issue comprises a fresh issuance of up to 60,00,000 shares of face value of Rs 10 each. The issue includes a reservation of up to 3,00,000 equity shares of face value Rs 10 each for subscription; under the “Market Maker Reservation Portion.”
A total of 50 per cent of the net issue i.e. 28,50,000 shares is available for allocation to retail investors, and 50 per cent of the net issue i.e. 28,50,000 equity is reserved for non-institutional investor category. QIBs can apply in the NII portion. As said above, the market maker reservation portion is 3,00,000 equity shares, aggregating 5% of issue size.
The proposed equity shares of the Haridwar-based company will be listed on Emerge platform of NSE.
The company has an operating history of around 15 years. It manufactures and markets BIS and CE certified wires and cables under the brand name “V-MARC”.
It has two manufacturing facilities in Haridwar, Uttarakhand. The company sells products through a diversified sales & distribution mix, majorly by securing government tenders for supply to government projects and supply to EPC contractors for turnkey projects. The company has a dealer & distribution network of more than 650 dealers and with direct sales to few private companies.
In FY20, the company reported Rs 171.24 crore in revenue from operations and an Ebitda of Rs 13.04 crore and profit after tax of Rs 4.64 crore.
The IPO is being managed by Pantomath Capital Advisors.
