Vilas Transcore IPO: The initial public offering of Vilas Transcore Ltd has been opened for public subscription on May 27. The Rs 95.26-crore SME IPO has already received over 2 times subscription within hours. Till 11:45 am on the first day of bidding on Monday, the IPO received a 2.52 times subscription, garnering bids for 1,08,55,000 shares as against 43,09,000 shares on offer.
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The Vilas Transcore IPO will be closed on Wednesday, May 29.
The retail category has received a 3.62 times subscription, while the non-institutional investor (NII) category got a 1.47 times subscription. In the QIB category, the issue received 1.38 times subscription.
The Vilas Transcore IPO allotment will likely be finalised on May 30, while the listing will take place on June 3 on the NSE SME.
The price band of the IPO has been fixed at Rs 139-Rs 147 per share.
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Vilas Transcore IPO GMP Today
According to market observers, unlisted shares of Vilas Transcore Limited are trading Rs 85 higher in the grey market as compared with its issue price. The Rs 85 grey market premium or GMP means the grey market is expecting a strong 57.82 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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About Vilas Transcore IPO
The Vilas Transcore IPO is entirely a fresh issue of 64.8 lakh shares. It opens for subscription on May 27, 2024 and closes on May 29, 2024.
The price band of the Vilas Transcore IPO has been fixed at Rs 139 to Rs 147 per share. The minimum lot size for an application is 1,000 shares. The minimum amount of investment required by retail investors is Rs 1,47,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to Rs 2,94,000.
Hem Securities Limited is the book running lead manager of the Vilas Transcore IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Vilas Transcore IPO is Hem Finlease.
Vilas Transcore Limited, established in 2006, manufactures and supplies power distribution and transmission components, primarily to transformer and other power equipment manufacturers in India and abroad. The company produces and supplies various electrical lamination products, including CRGO cores and coils used in power and distribution transformers. The manufacturing process meets industry standards and customer specifications, using the latest technology to ensure quality and precision for application in the power equipment industry.
Vilas Transcore Ltd’s revenue rose 21.09 per cent and profit after tax (PAT) rose by 12.89 per cent between the financial year ending with March 31, 2023 and March 31, 2022.
