V-Marc India Limited

 V-Marc India Limited Initial Public Offering of Equity Shares opening on Thursday, March 25, 2021

·         Price Band of Rs. 37 – Rs. 39 per equity share of face value of Rs. 10 each of V-Marc India Limited (“Equity Share”)

·         Bid/Issue Opening Date – Thursday, March 25, 2021 and Bid/Issue Closing Date – Wednesday, March 31, 2021

·         Minimum Bid Lot is 3000 Equity Shares and in multiples of 3000 Equity Shares thereafter

·         Company completed Pre-IPO placement of 8,40,000 Equity Shares for a consideration of Rs. 327.60 lakhs with subscription         from HNI Investor Mr. Madhukar Sheth

Mumbai, March 23, 2021: Haridwar based, Wires and Cables manufacturer, V-Marc India Ltd, (“Company” or “V-Marc”), will open the Bid/Issue period in relation to its initial public offering of Equity Shares (the “Issue”/ “IPO”) on Thursday, March 25, 2021 and close on Wednesday, March 31, 2021. The price band for the Offer has been decided at Rs. 37 – Rs. 39 per Equity Share. The proposed equity shares will be listed on the Emerge Platform of the National Stock Exchange.

The Issue aggregating up to Rs. 2340 lakhs at Cap Price of Rs. 39 comprises of a Fresh Issuance of up to 60,00,000 equity shares of face value of Rs. 10 each. The issue includes a reservation of upto 3,00,000 equity shares of face value Rs 10 each for subscription; under the “Market Maker Reservation Portion”. The Company has already completed its Pre-IPO round and received a Pre-IPO placement of 8,40,000 equity shares for a consideration of Rs. 327.60 lakhs from HNI Investor Mr. Madhukar Sheth.

The Company proposes to utilize the Net Proceeds to fund the capital expenditure of up to Rs. 15 crores for its proposed new manufacturing facility at Roorkee, a working capital requirement of up to of Rs. 5 crore and balance for general corporate purposes.

The Issue Structure has been decided as 50% of the Net Issue i.e. 28,50,000 equity shares shall be available for allocation to Retail Investors, and 50% of the Net Issue i.e. 28,50,000 equity shares shall be available for Non-Institutional Investor Category. Further, QIBs can apply in the Non-Institutional Portion. Market Maker Reservation Portion is 3,00,000 equity shares aggregating 5% of issue size.

The company has an operating history of around 15 years and manufactures and markets BIS and CE certified wires and cables under the brand name “V-MARC” out of its 2 manufacturing facilities in Haridwar, Uttarakhand. The Company sells their products through a diversified sales & distribution mix, majorly by 1) securing government tenders for supply to government projects 2) supply to EPC contractors for turnkey projects and 3) their dealer & distribution network of more than 650 dealers and direct sales to few private companies. It has widespread domestic presence through its customers spread over 21 states. It caters to a diverse customer base comprising government companies, PSUs, retailers, distributors, dealers and contractors across industries including power, real estate, telecom and railways.

In FY 20 the company had a revenue from operations of Rs 17124.94 lakhs with an EBITDA of Rs. 1304.95 lakhs and PAT of Rs. 464.60 lakhs

Pantomath Capital Advisors Pvt Ltd. is the sole book running lead managers to the Issue(“BRLMs”).