(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
1. To meet working capital requirement
2. To meet the expenses of the Issue
Promoters of Veeram Infra Engineering Limited Company are:
Mr. Satishkumar R. Gajjar aged 54 years is the Promoter, Managing Director & Chief Financial Officer of our company. He has more than 25 years of experience in business management and since last 2-3 years he has been associated with Real Estate Industry and has gained fair Knowledge of Real Estate Development. He looks after Overall Business Development, Project Implementation, liasoning with brokers and government authority for plan approval and other related matters. He led many new initiatives in Veeram Infra Engineering Limited and has been key player in growth of company.
Mrs. Geetaben S. Gajjar, aged 51 years is the Promoter and Whole Time Director of our company. She is Undergraduate and is associated as a Director with the company since 5th September, 2003 and has been appointed as whole-time director w.e.f. 10th January, 2018. She is involved in the business right from conceptualization stage to execution stage like planning, monitoring the all activities. She looks after Administration and HR division our Company.
Financials of Veeram Infra Engineering Limited IPO:
For the year/period ended (in Rs Lacs)
Profit After Tax
Recommendation on Veeram Infra Engineering Limited IPO:
Review and Recommendation of Veeram Infra Engineering IPO from IZ team is:2/10[ The IPO is aggresively priced in term of P/E multiple. The sudden rise of Revenue and Profit just before the IPO raises concern. I do not understand why BSE allows such companies to list on their exchanges. The BSE just wants business and nothing else.]
Lead Manager of Veeram Infra Engineering Limited IPO: