NSE SME IPO of Vilas Transcore subscribed 7 times

The offer received bids for 4.53 crore shares as against 64.80 lakh shares on offer.

The initial public offer (IPO) of Vilas Transcore received bids for 4,53,69,000 shares as against 64,80,000 shares on offer, as per NSE data as of 17:00 hours on Monday (27 May 2024). The issue was subscribed 7 times.

The issue opened for bidding on Monday (27 May 2024) and it will close on Wednesday (29 May 2024). The price band of the IPO is fixed at Rs 139 to 147 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on NSEs SME platform.

IPO comprises fresh issue of 64,80,000 equity shares. The promoter and promoter group shareholding will dilute to 73.14% from 99.97% Pre-IPO.

About 3,26,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 61,54,000 equity shares. The issue and the net issue will constitute 26.47% and 25.14% respectively of the post offer paid up equity share capital of the company.

The company intends to utilize the net proceeds for funding for strategic investment and acquisitions, funding capital expenditure towards construction of factory building, funding capital expenditure towards acquisition and installation of additional plant and machinery and for general corporate purpose.

Ahead of the IPO, Vilas Transcore on Friday, 24 May 2024, raised Rs 27.12 crore from anchor investors. The board allotted 18.45 lakh shares at Rs 174 per share to 9 anchor investor.

Vilas Transcore is engaged in the manufacturing and supply of components used in the power distribution and transmission sector, primarily to transformer and other power equipment manufacturer in India and abroad. It manufacture and supply a different range of electrical lamination cold rolled grain oriented (C.R.G.O.) lamination core, CRGO slit coils, CRGO stacked (assembled cores), CRGO wound core and CRGO Toroidal core which are mainly used in power transformer, distribution transformer & dry type transformers, high voltage or medium voltage & low voltage current transformers.

The company's major customers include companies like Voltamp Transformers, Electrotherm India, Atlas Transformers India, Shilchar Technologies. As on 31 December 2023, the company has employed approximately 268 employees.

The company recorded revenue from operations of Rs 235.74 crore and net profit of Rs 16.79 crore for the period as on 31 December 2023.

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