Vruddhi Engineering Works was incorporated on October 27, 2020. The company primarily focuses on providing mechanical splicing solutions to the real estate, construction, and infrastructure industries. This involves designing, engineering, and supplying rebar couplers. Its offerings include supplying rebar couplers tailored to customer needs, providing on-site threading services for the couplers, and trading in threading machines and spares.
| Bidding Dates |
|---|
| 26 Mar 2024 - 28 Mar 2024 |
| Subscription |
|---|
| 12.67x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,32,000 | 1 | 1 | 2000 | 680.0 K | ₹66 - ₹70 | 72.05 % | ₹44.9 M - ₹47.6 M | RHP DOC |
Vruddhi Engineering IPO SUBSCRIPTION STATUS
28 Mar '24Vruddhi Engineering IPO overall subscription rate was 12.67 times the total available shares
Vruddhi Engineering IPO retail subscription rate was 20.1 times in the retail segment
Vruddhi Engineering IPO non-institutional investor subscription rate was 28.14 times in the non-institutional investor category
Vruddhi Engineering IPO Qualified Institutional Bidder subscription rate was 1.05 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
28 Mar 2024 (Day 3) | 20.1x | 28.14x | 1.05x |
27 Mar 2024 (Day 2) | 6.77x | 0.94x | 1.05x |
26 Mar 2024 (Day 1) | 1.79x | 0.37x | 0.49x |
Vruddhi Engineering FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 4.1 | 93.5 | 6.9 | 2.5 | 10.4% |
| FY23 | 7.5 | 130.8 | -23.3 | -36.0 | 10.3% |
| FY22 | 0.9 | 22.1 | -0.4 | -3.6 | 6.5% |
| FY21 | -0.1 | 0.0 | - | 0.0 | - |
Vruddhi Engineering IPO SUBSCRIPTION STATUS DETAILS
Vruddhi Engineering had 680.0 K shares on offer
Vruddhi Engineering IPO offer price was in the range ₹66 - ₹70
Vruddhi Engineering IPO minimum Investment was ₹132000
Vruddhi Engineering IPO issue size was ₹ 44.9 M - ₹ 47.6 M
Vruddhi Engineering had a minimum lot size of 2000 Shares per application
Vruddhi Engineering NUMBER OF SHARES ON OFFER
Vruddhi Engineering IPO IMPORTANT DATES
| Issue Open Date | 26 Mar 2024 |
| Issue close Date | 28 Mar 2024 |
| Allotment Date | 01 Apr 2024 |
| Refund Date | 02 Apr 2024 |
| Demat Account Credit Date | 02 Apr 2024 |
| Listing Date | 03 Apr 2024 |
| Listing on Exchange(s) | BSE |
| Vruddhi Engineering Allotment Status | Exchange |
Vruddhi Engineering IPO subscription opened on 26 Mar 2024, and closed on 28 Mar 2024
IPO allotment for Vruddhi Engineering was finalized on Monday, 01 Apr 2024
IPO listing for Vruddhi Engineering was on BSE on Wednesday, 03 Apr 2024
Vruddhi Engineering IPO LISTING GAINS
| Issue Price (adjusted) | 70.0 |
| Listing Open Price | 71.0 |
| Listing Close Price | 74.5 |
| Listing Gain% | 1.4% |
| Current Gain% | 190.1% |
Vruddhi Engineering Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vruddhi Engineering Works Ltd. | 203 | 51.2 | 16.6 | 0.2 | 1.2 | 26.7 | 14.8 | 43.1 | 35.4 | 3.1 | 106.3 | 12.2 | 106.3 |
| APL Apollo Tubes Ltd. | 1970 | 54698.7 | 44.5 | 0.8 | 2.4 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1839.8 | 48532.2 | 21 | 1.4 | 2.8 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 515 | 15695.7 | 31 | 1.2 | 4.1 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 35.2 | 13768.5 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 2693.5 | 6106.9 | 21.4 | 1.9 | 2.2 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 125.8 | 11.4 |
Vruddhi Engineering INFORMATION ON IPO ISSUE
About Vruddhi Engineering
Vruddhi Engineering Works was incorporated on October 27, 2020. The company primarily focuses on providing mechanical splicing solutions to the real estate, construction, and infrastructure industries. This involves designing, engineering, and supplying rebar couplers. Its offerings include supplying rebar couplers tailored to customer needs, providing on-site threading services for the couplers, and trading in threading machines and spares.
Object of the Issue
- To meet working capital requirements
- General corporate purpose
Vruddhi Engineering - PROMOTERS
| Name |
|---|
| Bindi Kunal Mehta |
Vruddhi Engineering Lead Manager to the Issue
Fedex Securities Private Limited
mb@fedsec.in
Vruddhi Engineering Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Vruddhi Engineering Strengths
Diversified customer base
The company has a well-diversified domestic customer base, supplying both standard and custom-based products. This diversification reduces the reliance on any single customer, thereby mitigating the impact of any significant contribution to revenues from a single source
Established product
The company designs, engineers, and supplies rebar couplers for various applications in the real estate, construction, and infrastructure industries. These couplers are utilized in the construction of residential and commercial buildings, steel structures, roads, and other infrastructure projects
Quality assurance
The company manufactures its products using high-quality raw materials, specifically carbon steel, which meets strict technical specifications and governing standards. It holds certifications such as ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, issued by a quality control certification accredited by UASL, England, UK
Vruddhi Engineering Risks
Legal proceedings
The company, its promoters, directors, and group companies are involved in certain legal proceedings. An adverse decision in these proceedings could significantly impact the business
Extremely competitive
All product verticals of the company operate within highly competitive segments. As the company scales its operations, it faces the risk of competition impacting margins and profitability
Negative cash flows
The company has reported negative cash flows from its operating, investing, and financing activities, and may continue to do so in the future
IPO FAQs
The promoter of the company is Bindi Kunal Mehta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 66.0 - 70.0.
The IPO application opens on Mar 26, 2024 and closes on Mar 28, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 132,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Apr 01, 2024.
The refund will be credited to your account on Apr 02, 2024.
The allotted shares will be credited to your demat on Apr 02, 2024.
Vruddhi Engineering Works Ltd.’s shares listed on the stock exchanges on Apr 03, 2024.