NSE SME Vilas Transcore rallies on debut

Shares of Vilas Transcore were quoting at Rs 225.75 on the NSE, a premium of 53.57% compared with the issue price of Rs 147.

The scrip was listed at Rs 215, a premium of 46.26% over the initial public offer (IPO) price. The stock is currently frozen in its upper limit of 5% over its listing price.

The counter hit a high of Rs 225.75 and a low of Rs 204.25. About 32.19 lakh shares of the company changed hands at the counter.

Vilas Transcore's IPO was subscribed 140 times. The issue opened for bidding on 27 May 2024 and it closed on 29 May 2024. The price band of the IPO was fixed at Rs 139 to 147 per share.

IPO comprised fresh issue of 64,80,000 equity shares. The promoter and promoter group shareholding diluted to 73.14% from 99.97% pre-IPO.

The company intends to utilise 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 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 makes parts for power grids and transformers in India and abroad. Their products include cores and coils used in various transformers. Some of their big customers are Voltamp Transformers and Electrotherm India, and they have around 268 employees (as on 31 December 2023).

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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