Veeram Infra Engineering Limited IPO
(i) Ahmedabad based Veeram Infra Engineering Limited was incorporated in 1994. The company entered into the business of Graphic Designing. Being successful in graphic designing and the growing demand for graphics printing, Promoters decided to expand its current business in 1996 through the forward intergration strategy, i.e., it started its own printing business. Promoters added the printers having the latest technology that helped the company in offering multi-colour offset printing services, single colour offset printing services, commercial printing services for calendars, catalogs, brochures, posters, annual reports manuals, etc. Backed by a team of qualified and skilled professionals and lastest printing technology, the company has obtained a long list of reputed clientele.
(ii) Over the last 2-3 years, promoters have a developed a focused and bigger vision in the real estate sector. In order to execute the same, the promoters have decided to diversify its business actitivies in the real estate sector. With this mission in their mind, the promoter have made the necessary changes in the Company`s MoA wherein our 70% company`s revenues from now on shall be earned through its real estate business and the remaining from its ancillary business.
(iii) In the real estate business shall include development and sale of land, residential properties including identification and acquisition of land, development of land & infrastructure, acquisition of development rights of projects, marketing of projects/land. Currently, our company has entered in to a land development agreement for Land Development and Plotting Project at Village Zamp, Taluka Sanand, District Ahmedabad, Gujarat. We are in the process of land development and plotting of the above land admeasuring approximately 7.34 hectares. We will be doing the levelling and land filling work and will also do plotting and boundary work to sell these plots in different sizes as per the customer requirements.
Objects of the Veeram Infra Engineering Limited IPO:
Veeram Infra Engineering IPO
are: 1. To meet working capital requirement 2. To meet the expenses of the IssueVeeram Infra Engineering Limited IPO Details:
| Open Date: | Sep 28 2018 |
| Close Date: | Oct 12 2018 |
| Total Shares: | 2,106,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Fixed Price Issue IPO |
| Issue Size: | 10.74 Cr. |
| Lot Size: | 2000 Shares |
| Issue Price: | ₹ 51 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Oct 22 2018 |
Promoters And Management:
Financials of Veeram Infra Engineering Limited IPO:
| Particulars | For the year/period ended (in Rs Lacs) | ||||
| 31-Mar-2018 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 935.06 | 25.99 | 25.57 | 24.66 | 24.16 |
| Total Revenue | 1,281.50 | 3.95 | 2.94 | 3.88 | 3.55 |
| Profit After Tax | 67.07 | 0.02 | 0.01 | 0.01 | 0.02 |
Recommendation on Veeram Infra Engineering Limited IPO:
Lead Manager of Veeram Infra Engineering Limited IPO:
Registrar of Veeram Infra Engineering Limited IPO:
Company Address:
Bid Details of Veeram Infra Engineering Limited IPO as on
12 Oct 2018 | 11:58:02 PM
| Category | No.of shares offered | No. of shares bid |
|---|---|---|
| 998,000 | 1,620,000 | |
| 998,000 | 746,000 | |
| 110,000 | 110,000 | |
| 2,106,000 | 2,476,000 |
| QIBs | No |
| QIBs+HNIs Subscription | 1.62X |
| Retail Subscription | 0.75X |
| Total Subscription | 1.19X |
Discussion on Veeram Infra Engineering Limited IPO:
3 Comments
Leave a Reply
You must be logged in to post a comment.
The IPO of such companies coming at platform of BSE shows that Indian Stock Market are misused from long time to loot innocent investors. The stock market is treated as a tool to loot investors. However, we are quite vocal to avoid such companies which are not in the interest of investors community.
First they started with the business of Prinitng, offering multi-colour offset printing services, single colour offset printing services, commercial printing services for calendars, catalogs, brochures, posters, annual reports manuals. However, later on due to arrival of digital printing the company moved into new business i.e Trading of pulses, garments and metals.
Over the last 2-3 years, the promoters have a developed a focused and bigger vision in the real estate sector. In order to execute the same, the promoters have decided to diversify its business actitivies in the real estate sector.
So in nutshell it is observed that the company has no focus in the business. With time they are keep on changing their business activity with very little success and same can be seen in the financials of the company. They have profits in thousands in the last 4 years. I do not how such companies even come up with an IPO thinking investors will invest their money.
First overseas last issue UHZaveri is down 70 pc. I am not sure how even after such dismal performance record even few retailer in apply in such lead manager companies. All issues bought by first overseas are mostly in jewellery .