1) About Vruddhi Engineering Works
The company is mainly engaged in offering mechanical splicing solutions to the real estate, construction and infrastructure industry by designing, engineering and supplying rebar couplers. Its offerings under this vertical include supply of rebar couplers, on-site threading services of the couplers and trading in threading machines and spares.
2) Industry overview
The real estate sector comprises of four sub-sectors – housing, retail, hospitality, and commercial. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
3) Vruddhi Engineering Works IPO size
The IPO is entirely a fresh equity issue of 6.8 lakh shares and through the issue, the company aims to raise nearly Rs 5 crore.
4) Vruddhi Engineering Works IPO price band
The company is offering its shares at Rs 66-70 apiece, and investors can bid for 2000 shares in 1 lot.
5) Vruddhi Engineering Works IPO financial performance
For the six months ended September 2023, the company clocked revenues of Rs 9.35 crore and net profit of Rs 41 lakh.
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6) Objects of the offer
The net proceeds from the public offer will be used for funding the working capital requirements of the company and general corporate purposes.
7) Lead managers and Registrar
Fedex Securities is acting as the lead manager to the issue and Bigshare Services is the registrar.
8) Issue structure
About 50% of the offer is reserved for QIB investors, 35% for retail investors and the rest 15% for other investors.
9) Important dates
The IPO opened on March 26 and will close on March 28. The final allotment will likely be made on April 1. The company’s shares will likely get listed on April 3.
10) Vruddhi Engineering Works GMP
The company’s shares have no GMP in the unlisted market.
