Varroc Engineering Limited IPO, Varroc Engineering IPO Details, VEL IPO
Tier-1 automotive component group Varroc Engineering Limited is going to launch its Initial Public Offering (IPO) for the subscription on Tuesday, 26th June 2018. The subscription period will end on Thursday, 28th June 2018. The company has already set the price band of its IPO and it is between Rs. 965 to Rs. 967 per equity share. The company has also given a discount of Rs.48/- per equity share to its employees. So, those who are the eligible employees of the company will get discount. It is a Book Building issue where the company is selling 20,221,730 Equity Shares of the face value of Rs. 1.
Investors need to download the DRHP for all details. Scroll down and get all relevant and important information about this IPO.
- 1 Varroc Engineering IPO
- 2 Varroc Engineering IPO, Allotment, Price, Lot Size, Dates, Subscription, Listing
- 3 Varroc Engineering IPO Allotment Date and Link
Varroc Engineering IPO
About the company:
- Varroc Engineering Limited was incorporated in 1988 and it is based in Aurangabad.
- It is a global tier-1 automotive component group.
- It designs, manufactures and supplies exterior lighting systems, powertrains, electrical and electronic parts, and plastic & polymer body, chassis parts, and precision metallic components.
- It supplies its products to both India and abroad and It is the largest global manufacturers of lighting systems.
- It has 36 manufacturing and R&D centers spread across seven countries (India, China (through its China JV), Czech Republic, Poland, Mexico, Germany and the US.).
- It supplies its products to big companies such as Tesla, Jaguar Land Rover, Royal Enfield, Yamaha etc.
Company Promoters: Tarang Jain
About the IPO
- The price band of the IPO is between Rs. 965 to Rs. 967 with a face value of Rs. 1.
- Bids can be made for a minimum lot of 15 Equity Shares and in multiples thereof.
- The company wants to raise Rs 1,955.4 crore at the upper end of the price band.
- It is an offer for sale (OFS) of 2,02,21,730 equity shares.
- Promotes, Investors and selling shareholders will offload their shares via this IPO.
- Promoters’ stake in the company will come down to 85% from 86.3%.
- Tata Capital Financial Services Ltd which holds 13.74% and Singapore-based Omega TC Holdings Pte Ltd which holds 1.26% will exit via this IPO.
- The company is backed by backed by Tata Opportunities Fund.
Objects of the Issue
Varroc Engineering IPO, Allotment, Price, Lot Size, Dates, Subscription, Listing
|Name||Varroc Engineering Limited|
|Open Date||26 Jun 2018|
|Close Date||28 Jun 2018|
|Allotment Date||04 Jul 2018|
|Refund Date||05 Jul 2018|
|Listing Date||06 Jul 2018|
|Issue Price||Rs. 965 – Rs. 967 Per Equity Share|
|Discount||Rs.48/- per Equity Share for Eligible Employees category|
|Lot Size||15 Shares|
|Minimum Order Quantity||15 Shares|
|Issue Type||Book Built Issue IPO|
|Issue Size||Initial Public offer of 20,221,730 Equity Shares (including anchor portion of 6,036,518 Equity Shares)|
|Global Co-ordinators and Book Running Lead Managers||Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited|
|Lead Managers||IIFL Holdings Limited|
|Registrar||Link Intime India Private Limted|
|Listing at||NSE / BSE|
Varroc Engineering IPO Allotment Date and Link
Allotment will be done on 04th July 2018. Stay tuned for more information. Check the allotment status at the link given below.
Grey Market Price, GMP, Premium
|05 Jul 2018||Rs. 40 to 45||—-||—-|
|03 Jul 2018||Rs. 15 to 20||—-||—-|
|29 Jun 2018||Rs. 20 to 25||—-||—-|
|28 Jun 2018||Rs. 50||Rs. 400||—-|
|27 Jun 2018||Rs. 60||Rs. 450||—-|
|26 Jun 2018||Rs. 55||Rs. 350||—-|
|Date||Total Revenue||Total Expenses||Profit after Tax|
|9M FY 2018||Rs. 10,417.1||Rs. 9,973.5||Rs. 450.3|
|FY 2017||Rs. 9,702.3||Rs. 9,454.3||Rs. 303.0|
|FY 2016||Rs. 8,239.5||Rs. 7,897.5||Rs. 369.0|
|FY 2015||Rs. 7,038.5||Rs. 7,063.3||Rs. 13.0|
|FY 2014||Rs. 6,139.4||Rs. 6,055.2||Rs. 42.0|
|FY 2013||Rs. 4,225.3||Rs. 4,220.9||Rs. -25.4|
|**(All Figures in Rs. Crores)|
- Earnings Per Share (EPS): Rs. 33.4
- Price/Earnings (P/E) ratio: Rs. 28.89 – Rs. 28.95
- Return on Net Worth (RONW): 15.93%
- Net Asset Value (NAV): Rs. 209.69 per share
|Category||SHARES OFFERED||26 Jun 2018||27 Jun 2018||28 Jun 2018|
- ICICI Securities: Subscribe from a long-term perspective.
- Canara Bank Securities: Subscribe for long-term gains.
- Sharekhan: Subscribe with Caution.
- Centrum Broking: Subscribe.
- Angel Broking: Neutral.
- Choice Broking: Subscribe with Caution.
Listing is scheduled on 06th July 2018. Please check for the updates.
Listing Day Figures (06th July 2018)
|BSE (541578)||NSE (VARROC)|
|IPO Price||Rs. 967||Rs. 967|
|Open||Rs. 1032||Rs. 1015|
|High||Rs. 1062||Rs. 1061.65|
|Low||Rs. 1000||Rs. 1000|
|Close||Rs. 1040.55||Rs. 1037.35|
Varroc Engineering Limited Address
IPO DRHP / Prospectus
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