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Vruddhi Engineering Works IPO
Price Band
₹66.0–70.0
Issue Size
₹4.76 Cr
Lot Size
2,000 shares
Min Investment
₹140,000
GMP
—
Issue Price
₹70.0
Vruddhi Engineering Works IPO AI Summary
- Vruddhi Engineering Works IPO is listed on BSE SME in the Industrial Products sector.
- Price band: ₹66.0–₹70.0 per share, lot size 2,000 shares (min. investment ₹140,000).
- Subscription window: 26 Mar–28 Mar 2024, listing on 03 Apr 2024.
Vruddhi Engineering Works is an SME IPO focused on mechanical splicing solutions for the construction sector. With a recent increase in total income and profit, the company is looking to raise funds for working capital and corporate purposes. Investors should consider their risk appetite and the financial metrics compared to peers.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Vruddhi Engineering Works IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 28 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
Vruddhi Engineering Works IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Established in 2020, Vruddhi Steel Limited provides mechanical splicing solutions to the real estate, construction and infrastructure industries through the development, design and supply of reinforcement couplers. The company's offering list includes: supply of rebar couplers as per customer requirements; on-site threading of the couplers; and trading in threading machines and spare parts. Vruddhi Steel's customers include construction contractors, real estate developers and infrastructure companies. As of March 31, 2023, the company has served around 84 customers in the mechanical splicing vertical and supplied steel products to over 2 customers in the trading sector. As of June 30, 2023, the company employed over 20 people at its warehouse and head office.
Company Financials (₹ Cr)
As of 2023-03-31
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 8.09 | 7.82 | 1.00 | 0.03 |
| Total Income | 9.35 | 13.10 | 2.21 | 0.00 |
| Profit After Tax | 0.41 | 0.75 | 0.09 | -0.01 |
| NET Worth | 2.53 | 2.12 | 0.10 | 0.00 |
| Reserves and Surplus | 0.69 | 1.19 | 0.09 | -0.01 |
| Total Borrowing | 3.02 | 3.23 | 0.47 | 0.02 |
Key Ratios
EPS
₹4.09
NAV
₹399.67
ROE
16.20%
ROCE
15.53%
RoNW
16.20%
P/B Value
0.10
P/E Ratio
17.13
Market Cap
₹17.67 Cr
PAT Margin
4.38%
Debt/Equity
1.19
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Sru Steels Ltd | 11.09 | 5.26% | 11.47 | 0.87 | 0.87 |
| Shiv Aum Steels Limited | 70.4 | 14.95% | 29.63 | 10.53 | 10.53 |
| Vruddhi Engineering Works Limited This IPO | 42.71 | 35.51% | — | 242.66 | 242.66 |
Promoters
Bindi Kunal Mehta
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 To meet working capital requirements 2.60 2 General corporate purposes 1.18
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹2.21 Cr in the year ending March 31, 2022, rising to ₹13.10 Cr by March 31, 2023, before decreasing to ₹9.35 Cr by September 30, 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹0.09 Cr in the year ending March 31, 2022, increasing to ₹0.75 Cr by March 31, 2023, and then decreasing to ₹0.41 Cr by September 30, 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹70.0, Vruddhi Engineering Works has an implied P/E ratio of 17.13 based on its EPS of ₹4.09, compared to peers trading at P/E ratios ranging from 11.47 to 29.63.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the potential premium at which an IPO might list compared to its issue price. A positive GMP suggests strong demand, while a negative GMP indicates weaker demand. However, GMP is not a guaranteed indicator of listing performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their growth potential and market conditions. It's important to consider the company's financial health and industry position.
Who May Want to Wait
Investors with a low-risk tolerance or those seeking stable, established companies may want to avoid this IPO, as it operates in a relatively new and potentially volatile sector.
Listing Gains — The Risk
Listing-day gains can be unpredictable. Factors such as market conditions, investor sentiment, and overall demand can influence the stock's performance on its debut. It's essential to approach listing gains with caution and not rely solely on them for investment success.
This evaluation is generated from Vruddhi Engineering Works'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 the price band of Vruddhi Engineering Works IPO?
The price band of Vruddhi Engineering Works IPO is ₹66.0–₹70.0 per share.
When does Vruddhi Engineering Works IPO open and close?
Vruddhi Engineering Works IPO opens on 26 March 2024 and closes on 28 March 2024.
When does Vruddhi Engineering Works IPO list on the stock exchange?
Vruddhi Engineering Works IPO listed on 03 April 2024 at ₹70.0.
What is the lot size for Vruddhi Engineering Works IPO?
The lot size for Vruddhi Engineering Works IPO is 2000 shares, requiring a minimum investment of ₹140,000.
What is the lot size for this IPO?
The lot size for Vruddhi Engineering Works' IPO is 2000 shares.
What is the minimum investment required?
The minimum investment required is ₹140,000.
What is the price band for the IPO?
The price band for the IPO is ₹66.0 to ₹70.0.
When does the IPO open and close?
The IPO opens on March 26, 2024, and closes on March 28, 2024.
When is the listing date?
The listing date for the IPO is April 3, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 Mar 2024
Close
28 Mar 2024
Allotment
01 Apr 2024
Listing
03 Apr 2024
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