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V-Marc India to open its IPO tomorrow. Here’s all you need to know

The corporate has additionally raised 327.60 lakh from excessive web value investor Madhukar Sheth when it accomplished its pre-IPO spherical.

By hindustantimes.com | Edited by Deepali Sharma, Hindustan Occasions, New Delhi

PUBLISHED ON MAR 24, 2021 10:38 PM IST

The wires and cables producer V-Marc India Restricted is scheduled to open its preliminary public providing (IPO) on Thursday. The provide with the value band of 37-39 per share will shut on March 31.

The proposed bid of the Haridwar-based firm shall be listed on the Emerge platform of the Nationwide Inventory Change, as reported by information company PTI.

Right here is all you might want to know:

> The problem with upto 2,340 lakh includes a recent challenge of upto 6 million shares of face worth 10 every.

> The problem consists of reservation of upto three lakh fairness shares for subscription.

> The corporate has deliberate to make use of the web proceeds from the provide to fund its capital expenditure of as much as 15 crore for its proposed new manufacturing unit at Roorkee, Uttarakhand. The working capital requirement calculated to be 5 crore and the remainder for company functions.

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> As per the difficulty construction, 50 per cent of the web challenge shall be out there for allocation to retail traders and 50 per cent of the web challenge shall be allotted to non-institutional traders. QIBs can apply within the non-institutional portion.

> The corporate has additionally raised 327.60 lakh from excessive web value investor Madhukar Sheth when it accomplished its pre-IPO spherical.

> One of many promoters of the corporate, Vikas Garg commenced the enterprise in 2006 in a partnership agency manufacturing and distributing PVC insulated wires and cable and over time advanced to be a longtime identify within the wires and cables enterprise business. The corporate provides a various portfolio from single and multi-strand cables to CCTV, energy, photo voltaic, LAN cables and extra.

> Pantomath Capital Advisors Pvt Ltd. is the only real book-running lead supervisor of the provide.

> The income from operations for the corporate in FY 20 amounted to over 17,124 lakhs with an EBITDA of over Rs. 1,304 lakhs and revenue after tax of greater than 400 lakh.

(With company inputs)

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