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Vital Chemtech IPO opens on October 31, 2022, to raise Rs 64.64 cr

October 31, 2022 12:30 IST | ANI Press Release
Tennis player James Blake
Vipul Bhatt, Promoter-Chairman and MD

Mumbai (Maharashtra) [India], October 31 (ANI/PNN): Vital Chemtech Ltd (VITAL) based in Ahmedabad is coming out with its maiden IPO of upto Rs 64.64 cr. for NSE Emerge listing.

Incorporated in 2013, VCL is engaged in the business manufacturing of phosphorus derivatives products with the highest quality practice and compliant with the chemical industry's highest Environmental, Health and Safety (EHS) standards. Its manufacturing facilities are located at 3 various sites in the GIDC Area, Dahej area of PCPIR region, and one in the GIDC area, Sanand district of Ahmedabad.

The company is coming out with an IPO of upto 64,00,000 equity shares of Rs. 10 each via the book-building route and has announced a price band of Rs. 95 - Rs. 101 per share. At the upper cap of the price band, the company mulls raising Rs. 64.64 cr. IPO is scheduled from October 31, 2022, to November 03, 2022. Investors will have to apply for a minimum of 1200 shares and in multiples thereon, thereafter.

The issue constitutes 26.72 per cent of the post-issue paid-up capital of the company. The shares will be listed on Emerge platform of NSE after allotment. This issue is lead-managed by Beeline Capital Advisors Pvt Ltd and registrar to this issue is Skyline Financial Services Pvt. Ltd.

The company got converted into a limited company from an LLP (Limited Liability Partnership) firm on November 25, 2011. The company has posted growth in its working for the past three fiscals. As an LLP firm, for fiscal 2020, 2021, and for the period ended November 24, 2021, it reported a turnover/net profit of Rs. 41.61 cr. / Rs. 1.05 cr., Rs. 47.68 cr. / Rs. 2.94 cr., and Rs. 86.04 cr. / Rs. 7.85 cr., respectively. As a limited entity, for the period from 25.11.21 to 31.03.22, it has posted a turnover/net profit of Rs. 57.87 cr. / Rs. 6.71 cr., and for the first month of fiscal 2023 i.e. for April 2022, it has earned a net profit of Rs. 1.35 cr. on a turnover of Rs. 10.80 cr.

VCL's installed capacity was increased year on year basis from 12000 MT in FY 2019-20 to 13200 MT in FY 2020-21 and was further increased to 28800 MT in FY 2021-22. Boost is its turnover and profits are the results of its rising activities post-expansion of its capacity. The company has also started exports of its products and plans to increase its global sales in the coming years.

This story has been provided by PNN. ANI will not be responsible in any way for the content in this article. (ANI/PNN)

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