Vilas Transcore IPO : On Monday, the first trading day of the week, only one company is going to launch its IPO in the primary market. This is an SME IPO. Today, Vilas Transcore’s IPO is opening for subscription. Investors can bid in this IPO till May 29. The company has fixed the price band for this IPO from Rs 139 to Rs 147 per share. The company’s shares are seen trading at a good premium in the gray market. The company wants to raise Rs 95.26 crore through this IPO. Let’s know the key details related to the IPO.
27.12 crores raised from anchor investors
Vilas Transcore will issue 64.80 lakh fresh equity shares in this IPO. There will be no shares under offer for sale in this IPO. Investors can bid in the IPO for a minimum of 1000 shares and its multiples. Retail investors will have to invest at least Rs 1,47,000 in this IPO. Even before the IPO opens, the company has raised Rs 27.12 crore from anchor investors.
Big profits in the gray market
Vilas Transcore’s stock was seen trading at a good premium in the grey market on Monday morning. The stock was seen trading at a premium of Rs 85 against its issue price of Rs 147. In this way, the stock can be listed on the stock exchanges at Rs 232 with a premium of 57.82 percent. The listing of shares in the IPO is to be done on June 3. At the same time, the allotment of shares is to be done on May 30. Those who do not get shares will start getting refunds from May 31.
35% share for retail investors
In this IPO, 50 percent of the shares are reserved for qualified institutional buyers. 35 percent of the shares are reserved for retail investors. 15 percent of the shares are reserved for non-institutional investors. At present, the promoter stake in the company is 99.97 percent. It will decrease to 73.01 percent after the IPO. Nilesh Jeetubhai Patel and Natasha Jeetubhai Patel are the promoters of this company.
What does the company do?
Vilas Transcore, started in 2006, mainly manufactures power distribution and transmission components. It also supplies transformers and other power equipment manufacturers in India and abroad. The company also manufactures products like GRGO cores and coils used in power and distribution transformers. In FY23, the company’s net profit increased by 12.89 percent to Rs 20.22 crore.
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