The Viaz Tyres date has been confirmed from February 16 and ended on February 21.
The initial public offering (IPO) of Viaz Tyres was a fixed price issue worth Rs 20.00 crores. This IPO consisted solely of a fresh issue of 32.26 lakh shares. The bidding for the Viaz Tyres IPO commenced on February 16, 2023, and concluded on February 21, 2023. The allotment process for this IPO was finalized on Friday, February 24, 2023. Subsequently, the shares were listed on the NSE SME on March 1, 2023.
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Bidding Dates
February 16 – 21,2023
Price Range
₹62 per share
Face Value
₹10 per share
GMP
₹2
Viaz Tyres GMP
The Viaz Tyres IPO GMP is ₹[2].
IPO Overview
The IPO price for Viaz Tyres stands at ₹62 per share. Retail investors are required to apply for a minimum lot size of 2000 shares, which translates to a minimum investment of ₹124,000. On the other hand, High Net Worth Individuals (HNIs) need to invest in 2 lots, equivalent to 4,000 shares, with a total amount of ₹248,000.
The company manufactures tire tubes for bicycles, motorcycles, cars, and heavy-duty industrial vehicles. Additionally, it offers Off The Road Tire Tubes and Animal Drawn Vehicles Tire Tubes, as well as engine oil and grease through contractual agreements.
Viaz Tyres IPO Date & Price Band Details
| IPO Date | February 16, 2023 to February 21, 2023 |
| Listing Date | March 1, 2023 |
| Face Value | ₹10 per share |
| Price | ₹62 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 3,226,000 shares (aggregating up to ₹20.00 Cr) |
| Fresh Issue | 3,226,000 shares (aggregating up to ₹20.00 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 162,000 shares |
Viaz Tyres IPO Market Lot
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 2000 | ₹124,000 |
| Retail (Max) | 1 | 2000 | ₹124,000 |
| HNI (Min) | 2 | 4,000 | ₹248,000 |
Viaz Tyres Company Financials
| Parameters | Year ending on 30th Sept, 2022 | Year ending on As on 31st March, 2022 | Year ending on 31st March, 2021 |
| Total revenue | ₹ 23.79 cr | ₹ 29.33 cr | ₹ 29.17 cr |
| Profit After Tax | ₹ 1.52 cr | ₹ 1.46 cr | ₹ 0.6 cr |
| Current Assets | ₹ 26.54 cr | ₹ 20.78 cr | ₹ 18.6 cr |
| Current Liabilities | ₹ 13.16 cr | ₹ 12.45 cr | ₹ 12.04 cr |
| Current ratio | 2.02 | 1.67 | 1.54 |
| Net increase/(decrease) in cash and cash equivalents | ₹ 2.95 lakhs | ₹ (9.76) lakhs | ₹ 7.06 lakhs |
Company Profile
Viaz Tyres Limited, an Ahmedabad-based company, was established in 2018. The company specializes in the production of rubber tubes for bicycles, two and three-wheelers, passenger vehicles, and heavy-load industrial vehicles. Additionally, they offer ancillary products such as Off The Road (OTR) Tyre tubes, Animal Driven Vehicle (ADV) Tubes, Engine Oil, and Grease under their white labeling program. The company markets its rubber tubes, bicycle tires, and ancillary products both domestically and internationally under the brand name “Viaz”. Their production facility, located in Nandasan near Ahmedabad, Gujarat, India, has a monthly manufacturing capacity of 700,000 tubes. Viaz Tyres Limited has a network of 15 domestic distributors across
India for their rubber tubes. Furthermore, they have established a presence in five countries, including the United States of America, Turkey, Romania, United Arab Emirates, and Colombia. Recently, the company expanded its offerings by entering into an exclusive distributorship agreement with Maxxis Rubbers Private Limited for the trading of tires in Turkey.
Registrar Info
| Name | LINK INTIME INDIA PRIVATE LIMITED |
| Phone number | +91-22-4918 6270 |
| Email ID | viaztyres.ipo@linkintime.co.in |
| Website | https://linkintime.co.in/mipo/ipoallotment.html |
Contact Details
| Name | Viaz Tyres Limited |
| Phone number | 079-46016174 |
| Email ID | cs@viaztyres.com |
| Website | https://www.viaztyres.com/ |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
