Visaman Global Sales Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 24, 2024 to June 26, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 43 per share |
| Lot Size | 3,000 Shares |
| Total Issue Size | 37,32,000 shares (aggregating up to ₹ 16.05 Cr) |
| Fresh Issue | 37,32,000 shares (aggregating up to ₹ 16.05 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 1,00,79,999 |
| Shareholding post issue | 1,38,11,999 |
| Market Maker portion | 1,92,000 shares |
About Visaman Global Sales Limited IPO
Visaman Global Sales Ltd is engaged in the business of supplying round pipes, square pipes, rectangle pipes, various specifications of structural steels, BGL coils, GP(GI) coils, HR coils, CR coils, colour-coated coils, MS sheets, GP and GC sheets, CR sheets, HR sheets and plates, colour coated sheets, roofing PUF panel, wall PUF panel, etc. Further, The Company also provides a credit facility to their existing customers as a value-added service. Visaman Global Sales IPO is a fixed price issue of Rs 16.05 crores. The issue is entirely a fresh issue of 37.32 lakh shares.
Visaman Global Sales IPO opens for subscription on June 24, 2024 and closes on June 26, 2024. The allotment for the Visaman Global Sales IPO is expected to be finalized on Thursday, June 27, 2024. Visaman Global Sales IPO price is ₹43 per share. The minimum lot size for an application is 3000 Shares. Shreni Shares Limited is the book-running lead manager of the Visaman Global Sales IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Visaman Global Sales IPO is Shreni Shares.
Objectives of Visaman Global Sales IPO
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objectives:
- Funding of capital expenditure requirements of the Company towards setting up a manufacturing facility at Rajkot, Gujarat, India.
- Funding Working Capital Requirements of the company.
- General corporate purposes.
Visaman Global Sales IPO Review
The company is in the business of trading in pipes/sheets/coils of various metals. It depends on third-party supply. It posted average earnings on a growing topline indicating the nature of business as “High Volume – Low margin”. Based on FY24 annualized earnings, the issue appears aggressively priced. It is operating in a highly competitive and fragmented business. There is no harm in skipping this high-risk price issue.
Company & Financials
Incorporated in June 2019, Visaman Global Sales Limited supplies a wide range of products, including round pipes, square pipes, rectangle pipes, various specifications of structural steels, BGL coils, GP (GI) coils, HR coils, CR coils, color-coated coils, MS sheets, GP and GC sheets, CR sheets, HR sheets and plates, color-coated sheets, roofing PUF panel and wall PUF panel. The company offers customization to meet specific customer requirements for product size and dimensions. They outsource the process of modification and alteration to a third party. Additionally, they facilitate onsite delivery of our products to the customers. They are one of the dealers of APL Apollo Tubes Limited. The company is an ISO 9001:2015 certified organization. The company has a stockyard in Gujarat and warehouses in both Gujarat and Madhya Pradesh.
Visaman Global Sales Limited IPO Financial Information
Latest Revenue
20,691.39
₹ Crore
Profit After Tax
101.61
₹ Crore
Net Worth
1,095.31
₹ Crore
Total Borrowing
5,690.85
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 8,001.69 | 20,691.39 | 101.61 | 1,095.31 | 5,690.85 | ||||
| 31 Mar 2023 | 5,863.95 | 37,605.01 | 113.33 | 993.70 | 4,345.69 | ||||
| 31 Mar 2022 | 3,982.42 | 32,407.29 | 94.66 | 660.38 | 1,386.10 | ||||
| 31 Mar 2021 | 2,727.20 | 13,636.19 | 33.47 | 565.72 | 710.34 | ||||
| Amount in ₹ Crore | |||||||||
Visaman Global Sales Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 9.28% |
| ROCE | 8.02% |
| Debt/Equity | 5.2 |
| RoNW | 9.28% |
| P/BV | 3.96 |
| PAT Margin (%) | 0.49 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.12 | 0.98 |
| P/E (x) | 38.25 | 43.84 |
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Competitive Strengths
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Visaman Global Sales Limited IPO Timeline
| IPO Open Date | Monday, June 24, 2024 |
| IPO Close Date | Wednesday, June 26, 2024 |
| Basis of Allotment | Thursday, June 27, 2024 |
| Initiation of Refunds | Friday, June 28, 2024 |
| Credit of Shares to Demat | Friday, June 28, 2024 |
| Listing Date | Monday, July 1, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 26, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹129,000 |
| Retail (Max) | 1 | 3000 | ₹129,000 |
| HNI (Min) | 2 | 6000 | ₹258,000 |