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20 Jun, 2024

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.

WHAT IS GMP?

GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.

A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.

Visaman Global Sales Limited IPO GMP

GMP Date	IPO Price	GMP	Last Updated
-	-	-	-

**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**

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	3000 Shares
Total Issue Size	3,732,000 shares (aggregating up to ₹16.05 Cr)
Fresh Issue	3,732,000 shares (aggregating up to ₹16.05 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Shareholding pre issue	10,079,999
Shareholding post issue	13,811,999
Market Maker portion	192,000 shares

Visaman Global Sales Limited IPO Timeline

Detail	Description
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

Visaman Global Sales Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	3000	₹129,000
Retail (Max)	1	3000	₹129,000
HNI (Min)	2	6000	₹258,000

Visaman Global Sales Limited IPO Promoter Holding

Share Holding Pre Issue	Share Holding Post Issue
Share Holding Pre Issue	100.00%
Share Holding Post Issue	72.98%

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.

Competitive Strength:

Visaman Global Sales Limited IPO Financial Information

Period Ended	Assets	Total Income	Profit After Tax	Net Worth	Reserves and Surplus	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

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

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.

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Frequently Asked Questions (FAQs)

What is Visaman Global Sales IPO?

Visaman Global Sales IPO is an NSE SME IPO. They are going to raise ₹16.05 Crores via IPO. The issue is priced at ₹43 per equity share. The IPO is to be listed on NSE.
When will the Visaman Global Sales IPO open?

The IPO is to open on June 24, 2023, for QIB, NII, and Retail Investors.
What is Visaman Global Sales IPO Investors Portion?

The investors’ portion for NII is 50%, and Retail is 50%.
What is Visaman Global Sales IPO Size?

Visaman Global Sales IPO size is ₹16.05 crores.
What is the Visaman Global Sales IPO Price Band?

Visaman Global Sales IPO Price Band is ₹43 per equity share.