The Vruddhi Engineering Works IPO date has been confirmed from March 21, 2024 and closes on March 26, 2024. Read the post to learn about Vruddhi Engineering Works IPO GMP.
Let’s talk about the Vruddhi Engineering Works Developers IPO, shall we? They’re offering shares at a fixed price of Rs 4.76 crores, with each share priced between ₹66 to ₹70. Thinking of investing? The minimum lot size for an application is 2000 shares. For retail investors, the minimum investment required is ₹140,000. And for HNIs, it’s 2 lots minimum (4,000 shares), totaling ₹280,000. The Company’s public offerings incorporate the market’s own expectations for where it will grow and what its margins might be like.
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Bidding Dates
March 21-26
Price Range
₹66 to ₹70 per share
Face Value
₹10 per share
GMP
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Vruddhi Engineering Works IPO GMP
The Vruddhi Engineering Works IPO GMP Today is ₹[].
IPO Overview
Calling all investors! Vruddhi Engineering Works is making waves with its Rs 4.76 crores IPO. They’re introducing fresh offer 6.8 lakh shares. Don’t miss out: subscribe between March 21 and March 26, 2024. Allocation results expected by March 27, 2024, with a tentative listing on BSE SME scheduled for April 1, 2024. The success of the Company’s IPO might attract more resources and talent to help implement its expansion plans.
Thinking about investing in Vruddhi Engineering Works’ IPO? The share price is estimated at ₹66 to ₹70. Vruddhi Engineering Works IPO GMP Today is ₹NA. To participate, you’ll need to apply for a minimum of 2000 shares. Retail investors must commit at least ₹140,000, while HNIs need to double that amount, investing ₹280,000 for two lots of 4,000 shares. Analysts view the Vruddhi Engineering Works Developers’s IPO as an indicator of whether the wider market is in the mood for new listings.
Vruddhi Engineering Works IPO Details
| IPO Date | March 21, 2024 to March 26, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 680,000 shares (aggregating up to ₹4.76 Cr) |
| Fresh Issue | 680,000 shares (aggregating up to ₹4.76 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,843,584 |
| Share holding post issue | 2,523,584 |
Vruddhi Engineering Works Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 782.33 | 100.14 | 3.02 |
| Revenue | 1,309.62 | 220.65 | 0.44 |
| Profit After Tax | 75.33 | 9.44 | -0.88 |
| Net Worth | 212.12 | 9.56 | 0.12 |
| Reserves and Surplus | 118.55 | 8.56 | -0.88 |
| Total Borrowing | 323.37 | 47.49 | 2.22 |
| Amount in ₹ Lakhs | |||
Vruddhi Engineering Works IPO Timeline
| IPO Open Date | Thursday, March 21, 2024 |
| IPO Close Date | Tuesday, March 26, 2024 |
| Basis of Allotment | Wednesday, March 27, 2024 |
| Initiation of Refunds | Thursday, March 28, 2024 |
| Credit of Shares to Demat | Thursday, March 28, 2024 |
| Listing Date | Monday, April 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 26, 2024 |
Company Profile
Inaugurated in 2020, Vruddhi Steel Limited has positioned itself as a leading provider of mechanical splicing solutions to the infrastructure, building, and real estate sectors. Specializing in the crafting, production, and distribution of reinforced couplers, the company caters to a diverse clientele base including infrastructure firms, real estate developers, and construction contractors. By March 31, 2023, they had supplied steel materials to more than 2 clients in the trade industry and tended to around 84 clients in the mechanical splicing sector. The company employs more than 20 individuals
at its head office and warehouse as of June 30, 2023. The company’s offering list includes:
- supply of rebar couplers as per customer requirements;
- on-site threading of the couplers; and
- trading in threading machines and spare parts.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Vruddhi Engineering Works Limited |
| Phone number | +91- 022 26128915 |
| Email ID | cs@vruddhicouplers.com |
| Website | vruddhicouplers.com |
IPO Strengths
- 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.
