Vinny Overseas Limited IPO

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(i) Vinny Overseas Limited was Incorporated on 29, 1992 in Gujarat, Dadra & Nagar Haveli. Vinny Overseas Limited is engaged in the processing of fabrics for Shirting, Suiting and Dress materials through the manufacturing process of Weaving, Dyeing, Printing, and Finishing.

(ii) The Company procures Grey Fabric from the domestic market and further dyes the same as per the client’s requirements on the basis of the quality of the fabric, sizing requirements etc. The Company is also engaged in Job-Work for wholesale cloth merchants and also trade in grey cloth as per the order received from the customer. The Company Products offering can be largely classified into Shirting Fabrics, Shooting Fabrics, Polyester Fabrics, Dress Materials, and Cotton Fabrics. Our operations and facilities enable us to provide a number of textile products/processes for our customers.

(iii) The Company processing unit is located at Isanpur Road, Narol, Ahmedabad in the state of Gujarat, on approximately 27000 square yards of land which comprises of Dyeing, Printing and Finishing processing with a capacity of processing of approx. 4,00,00,000 meter per annum.

(iv) For the financial year 2017-18, The Company has processed 3,82,87,548 meters of fabrics. The unit has the capacity to print, dye and process wide range of fabrics i.e. cotton, polyester, viscose and man-made & blended fabrics suitable for men’s wear, women’s wear, home furnishing, and many other applications. The Company based on its experience and its standards conforms to major specifications and customer requirements. The Company belief in benchmark product quality, customer-centric approach, people focus ethical business practices and good corporate citizenship.

Vinny Overseas Limited IPO Stock Quote & Charts

45.00

+4.53%

  • Open: 45.00
  • High - Low: 45.00 - 45.00
  • Previous Close: 43.05
  • Total Traded Volume: 3000
  • Updated On: 14-Dec-2018

Objects of the Vinny Overseas Limited IPO:

Objective of Vinny Overseas Limited IPO are: 1. Funding the working capital requirements of our Company 2. General corporate purposes

Vinny Overseas Limited IPO Details:

Open Date: Sep 28 2018
Close Date: Oct 03 2018
Total Shares: 2,596,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 10.38 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 40 Per Equity Share
Listing At: NSE Emerge
Listing Date: Oct 11 2018

Promoters And Management:

Promoters of Vinny Overseas Limited Company are: (i) Hiralal Parekh, aged 53 of years is Managing Director of our company. He holds a bachelor’s degree in commerce from Gujarat University. He has been associated with our Company since incorporation and appointed as Managing Director with effect from April 1, 2017. He has more than three decades of experience in the textile industry. He is actively associated with the company in its operations since its incorporation. He is the guiding force behind all the corporate decisions and is responsible for the entire business operations specifically manufacturing and sales operations of the company. (ii) Latadevi Parekh, aged 53 years is Whole Time Director of our company. She holds a bachelor’s degree in arts from Jain Vishva Bharati Institute. She was appointed as Director since March 04, 2010 and has been designated as Whole Time Director w.e.f. April 01, 2017. She has more than Eight years of experience in textile Industry. She is majorly responsible for Administration of Routine Business operations of the company

Financials of Vinny Overseas 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 6,420.39 4,904.91 4,434.41 4,040.35 3,963.63
Total Revenue 13,054.15 9,833.52 9,830.42 8,735.22 8,059.09
Profit After Tax 307.56 170.38 111.44 97.77 67.51

Recommendation on Vinny Overseas Limited IPO:

Review and Recommendation of Vinny Overseas Limited IPO from IZ team is:4/10

Lead Manager of Vinny Overseas Limited IPO:

  1. Pantomath Capital Advisors Private Limited

Registrar of Vinny Overseas Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Vinny Overseas Limited B/H International Hotel, Narol-Isanpur Road, Narol Ahmedabad Gujarat 382405 India Phone No. +91 79 2573 1900 Email: cs@vinnyoverseas.in Website: www.vinnyoverseas.in

Bid Details of Vinny Overseas Limited IPO as on
03-Oct-2018 17:00:00 IST

Category No.of shares offered No. of shares bid
1,232,000 2,439,000
1,232,000 1,530,000
132,000 132,000
2,596,000 4,101,000
QIBs Yes
QIBs+HNIs Subscription 1.98X
Retail Subscription 1.24X
Total Subscription 1.61X

Discussion on Vinny Overseas Limited IPO:

    The company has shown decent growth in terms of Revenues and PAT in the last 5 years. The LM Pantomath has good track record. The IPO can be look upon based on HNI subscription figure. If HNI subscription comes good than chances of discount listing would be less.

    EPS story (Pre-Issue) based on FY18 Financials
    (i) PAT= 396 Lakh
    (ii) Outstanding Shares= 66.026 Lakh
    (iii) EPS= 5.99
    (iv) P/E= 6.67

    EPS story (Post-Issue) based on FY18 Financials
    (i) PAT= 396 Lakh
    (ii) Outstanding Shares=91.986 Lakh
    (iii) EPS= 4.30
    (iv) P/E= 9.30

    Conclusion: The valuation is fairly priced as compared to its peers.