The IPO for Vision Infra Equipment Solutions was available for subscription. On September 10, the initial public offering will come to an end. The price range for each equity share has been set at Rs 155 to Rs 163.
65.16 lakh shares are being issued entirely new in the Rs 106.2 crore SME IPO. The offer-for-sale (OFS) component is absent.
Investors may apply for one lot valued at Rs 1.24 lakh, or a minimum of 800 shares. High-net-worth individuals (HNIs) are required to have a minimum of two lots, meaning that the transaction value would be Rs 2.48 lakh.
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IPO structure and issue size
Thirty percent of the offer is allocated to non-institutional investors, thirty percent to retail investors, and fifty percent to QIB investors.
The company intends to raise Rs 106 crore through the IPO, which is solely a new equity sale of 65.16 lakh shares.
IPO subscription time table
September 6 is the opening day of the IPO, and September 10 is the closing date. Presumably, September 11 will mark the final allocation. Probably on September 13, the company’s shares will go public.
Utilisation of proceedings
The proceeds from the new issue will be used to pay for working capital needs and capital expenditures. Additionally, a portion will be used for corporate general purposes.
The issue’s registrar is Link Intime India Pvt Ltd, and the book-running lead manager is HEM Securities Ltd.
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Company’s financials and industry
The company recorded total revenues of Rs 349 crore and net profit of Rs 26.68 crore for the year that ended in March 2024.
Given that roads carry over 64.5 per cent of India’s goods and 90 per cent of its passenger traffic, the road sector is essential to the country’s infrastructure. The Ministry of Road Transport and Highways received a sizeable allocation of Rs. 2.7 lakh crore (USD 33 billion) from the Indian government in the Union Budget 2023–24.
