Vruddhi Engineering Works Ltd IPO
Open Demat Account
Vruddhi Engineering Works Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 6.8 L | TBA | ₹ 2.25 L | ₹ 17.76 L | BSE | ₹ 4.76 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 26 Mar, 24 | 28 Mar, 24 | 2000 | ₹ 1,32,000 | Book Building - SME | 03 Apr, 24 |
Vruddhi Engineering Works Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Trading |
| Sub Sector | NA |
| Issue Type | Book Building - SME |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 1.11x | 322000 | 358000 |
| NII | 40.79x | 96600 | 3940000 |
| Retail | 21.4x | 225400 | 4824000 |
| Employee | 0x | 0 | 0 |
| Total | 13.41x | 680000 | 9122000 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Vruddhi Engineering Works Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 1.20 | 1.23 | 0.14 |
| EBITDA | 1.61 | 1.45 | 0.16 |
| PAT | 0.57 | 0.75 | 0.09 |
| Total Assets | 9.53 | 6.44 | 0.69 |
| Share Capital | 1.84 | 0.06 | 0.01 |
| Total Borrowings | 5.51 | 3.35 | 0.13 |
| Operating Activities (Net Cash) | 0.98 | 0.97 | 0.11 |
| Investing Activities (Net Cash) | 0.01 | 0.01 | 0.00 |
| Financing Activities (Net Cash) | 5.51 | 3.35 | 0.13 |
| Net Cashflow | 0.17 | 0.38 | 0.10 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Vruddhi Engineering Works Ltd
Vruddhi Engineering Works Limited was incorporated in Mumbai, Maharashtra as Vruddhi Steel Private Limited, a private limited company under the Companies Act, 2013, pursuant vide certificate of incorporation dated October 27, 2020 issued by Assistant Registrar of Companies, Central Registration Centre. Subsequently, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of its Shareholders held on December 26, 2022, and consequently, the name of the Company was changed to Vruddhi Steel Limited, and a fresh certificate of incorporation consequent upon conversion from private company to public company dated January 05, 2023, was issued by the RoC to the Company. Further, the name of the Company was changed to Vruddhi Engineering Works Limited pursuant to a special resolution passed in the extraordinary general meeting of its Shareholders held on April 29, 2023 and a fresh certificate of incorporation dated June 20, 2023 issued by the Registrar of Companies, Mumbai.
The real estate sector is one of the most globally recognized sectors. It 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. Infrastructure is a key enabler in helping India become a US$ 26 trillion economy. Investments in building and upgrading physical infrastructure, especially in synergy with the ease of doing business initiatives, remain pivotal to increase efficiency and costs.
Vruddhi Engineering Works Ltd is mainly engaged in offering mechanical splicing solutions to the real estate, construction and infrastructure industry by designing, engineering and supplying of rebar couplers. The Company's offering under this vertical includes (a) supply of rebar couplers as per its customer needs; (b) on-site threading services of the couplers; and (c) trading in threading machines and spares. The Company believes that it offers an end-to-end mechanical splicing solutions ranging from design, manufacturing, testing, logistics and rebar threading. It believes that the rebar couplers offered by the Company is an alternative to the conventional splicing methods followed in the construction industry.
Peer Comparison:
- Shiv Aum Steels Ltd
- SRU Steels Ltd
Vruddhi Engineering Works Ltd IPO Key Points
Strengths
- Diversified customer base;
- Diversified and Established Product;
- Quality Assurance
- Experienced Promoter and Director with extensive domain knowledge
Risk
- The Company, Promoters, Directors and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- In case of its inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate the company business it may have a material adverse effect on its business.
- The company has made an application with the Registrar of Trade Marks for registration of the logos and same has been under the status of send to Vienna Codification. Any delay in receiving the approval and/or granting registration or in obtaining registration could result in loss of logos & brand equity and the Company right to use the said logos.
Strategy
- Increase its market share
- Focus on Advanced Products
- Focus on consistently meeting quality standards
- Diversified customer base;
- Diversified and Established Product;
- Quality Assurance
- Experienced Promoter and Director with extensive domain knowledge
How To Apply for Vruddhi Engineering Works Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.