SME IPO V-Marc to open on Thursday, price band fixed at Rs 37-39 a piece

NEW DELHI: SME IPO V-Marc will open for subscription on Thursday. The price band of the difficulty has been set at Rs 37-Rs 39.

Investors contemplating the difficulty can make investments a minimal of 1 lot of three,000 shares and in multiples of three,000 shares thereafter.

The firm accomplished pre-IPO placement of 8,40,000 shares for a consideration of Rs 32.76 crore with subscription from HNI investor Madhukar Sheth.

The problem includes a contemporary issuance of up to 60,00,000 shares of face worth of Rs 10 every. The problem consists of a reservation of up to 3,00,000 fairness shares of face worth Rs 10 every for subscription; beneath the “Market Maker Reservation Portion.”

A complete of fifty per cent of the online problem i.e. 28,50,000 shares is obtainable for allocation to retail buyers, and 50 per cent of the online problem i.e. 28,50,000 fairness is reserved for non-institutional investor class. QIBs can apply within the NII portion. As stated above, the market maker reservation portion is 3,00,000 fairness shares, aggregating 5% of problem measurement.

The proposed fairness shares of the Haridwar-based firm shall be listed on Emerge platform of NSE.

The firm has an working historical past of round 15 years. It manufactures and markets BIS and CE licensed wires and cables beneath the model identify “V-MARC”.

It has two manufacturing amenities in Haridwar, Uttarakhand. The firm sells merchandise via a diversified gross sales & distribution combine, majorly by securing authorities tenders for provide to authorities initiatives and provide to EPC contractors for turnkey initiatives. The firm has a seller & distribution community of greater than 650 sellers and with direct gross sales to few non-public corporations.

In FY20, the corporate reported Rs 171.24 crore in income from operations and an Ebitda of Rs 13.04 crore and revenue after tax of Rs 4.64 crore.

The IPO is being managed by Pantomath Capital Advisors.