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V R Infraspace IPO
Price Band
₹
Issue Size
₹20.4 Cr
Lot Size
1,600 shares
Min Investment
₹136,000
GMP
+₹6.0 (7.06%)
Issue Price
₹85.0
Subject to Sauda
₹7300
Paid only if allotted
V R Infraspace IPO AI Summary
- V R Infraspace IPO is listed on NSE SME in the Residential, Commercial Projects sector.
- Subscription window: 04 Mar–06 Mar 2024, listing on 12 Mar 2024.
- Current GMP is +₹6.0 (7.06%) — unofficial and can change daily.
V R Infraspace Limited is a real estate company focused on residential and commercial projects in Gujarat. The company has reported declining revenues and profits in its latest financials, and it plans to use the IPO proceeds for expansion and working capital needs. Investors should consider the associated risks and the company's financial health before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
V R Infraspace IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 06 Mar 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
V R Infraspace IPO Grey Market Premium (GMP) Today
GMP
+₹6.0
GMP %
+7.06%
Est. Listing
₹91.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in December 2015, V R Infraspace Limited is a real estate development company primarily focused on constructing and developing residential and commercial projects in and around Vadodara, Gujarat. The company offers a range of luxurious, affordable residential buildings with various types of accommodations. Each building has security systems, sports and recreational facilities, play areas, and electricity backups. The company provides residential and commercial projects under the brand name "VR". V R Infraspace has completed residential projects named VR Celebrity Luxuria and VR Imperia and a commercial project named VR One Commercial Business Center. As of September 30, 2023, the Company reported a Consolidated Total Income of Rs. 732.41 Lakhs and Profit after tax of Rs. 89.54 Lakhs. The company's registered office is situated at Vadodara, Gujarat, India As of August 31st, 2023, the company has 9 employees at the construction site and registered office, including key management personnel.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 61.18 | 43.28 | 49.21 | 54.79 |
| Total Income | 7.32 | 18.76 | 13.88 | 13.49 |
| Profit After Tax | 0.90 | 2.62 | 0.80 | 0.72 |
| NET Worth | 12.90 | 12.12 | 9.49 | 8.70 |
| Reserves and Surplus | 6.42 | 5.64 | 3.01 | 2.22 |
| Total Borrowing | 6.61 | 9.72 | 10.39 | 16.76 |
Key Ratios
EPS
₹4.05
NAV
₹13.57
ROE
7.16%
ROCE
6.12%
RoNW
6.94%
P/B Value
6.26
P/E Ratio
20.99
Market Cap
₹75.48 Cr
PAT Margin
12.33%
Debt/Equity
0.51
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Laxmi Goldorna House Limited | 15.26 | 1.24% | 343.68 | 0.19 |
| Samor Reality Ltd | 25.61 | 0.46% | 135.23 | 0.22 |
| V R Infraspace Limited This IPO | 18.61 | 21.71% | 21.04 | 4.04 |
Promoters
Vipul Devchand Rupareliya and Sumitaben Vipulbhai Rupareliya
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Investment into our subsidiary and part financing the construction of VR Vivanta 15.00 2 To Meet Working Capital Requirement 3.50 3 General Corporate Expenses 1.40
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹7.32 Cr for the period ending 30 Sep 2023, down from ₹18.76 Cr for the year ending 31 Mar 2023. This indicates a significant decline in revenue, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹0.90 Cr for the period ending 30 Sep 2023, a decrease from ₹2.62 Cr for the year ending 31 Mar 2023. This decline reflects the same trend as revenue, and again, this figure is not directly comparable due to the shorter reporting period.
Valuation
V R Infraspace Limited has an implied P/E of approximately 20.99 at the issue price, compared to peers trading at P/E ratios ranging from 135.23 to 343.68.
Grey Market Premium, Explained
The grey market premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. A positive GMP indicates that the shares are expected to list at a higher price than the issue price, while a negative GMP suggests the opposite. Investors often look at GMP as an indicator of market sentiment towards an IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health.
Who May Want to Wait
Investors who prefer stable, established companies with consistent performance may want to avoid this IPO, especially given the recent decline in revenue and profit.
IPO Timeline, Explained
The IPO opens for subscription on March 4, 2024, and closes on March 6, 2024. The allotment date is set for March 7, 2024, and the listing date is expected to be March 12, 2024.
Listing Gains — The Risk
Investing in IPOs carries the risk of volatility on the listing day. While some investors may experience gains, others may face losses. The market's reaction to the company's fundamentals and overall market conditions can significantly impact the listing price.
This evaluation is generated from V R Infraspace's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is V R Infraspace IPO GMP today?
V R Infraspace IPO GMP today is +₹6.0 (7.06%). GMP is an unofficial grey-market indicator and can change daily.
When does V R Infraspace IPO open and close?
V R Infraspace IPO opens on 04 March 2024 and closes on 06 March 2024.
When does V R Infraspace IPO list on the stock exchange?
V R Infraspace IPO listed on 12 March 2024 at ₹91.0.
What is the lot size for V R Infraspace IPO?
The lot size for V R Infraspace IPO is 1600 shares, requiring a minimum investment of ₹136,000.
What is the lot size for this IPO?
The lot size for V R Infraspace's IPO is 1600 shares.
What is the minimum investment required?
The minimum investment required is ₹136,000.
What is the issue price of the shares?
The issue price of the shares is ₹85.00.
When is the listing date?
The listing date is expected to be March 12, 2024.
What does GMP mean?
GMP stands for grey market premium, which indicates the expected premium or discount at which the shares might trade on their listing day.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
04 Mar 2024
Close
06 Mar 2024
Allotment
07 Mar 2024
Listing
12 Mar 2024
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