Haridwar-based V-Marc India will hit the capital market on March 25. The IPO (initial public offering) will close on March 31, 2021. The price band for the offer has been decided at Rs 37 – Rs 39 per equity share. This company will be listed on the Emerge Platform of the National Stock Exchange.
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 3.27crore from HNI Investor Madhukar Sheth.
The Company proposes to utilise the net proceeds to fund the capital expenditure of up to Rs 15 crore 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.
In FY 20 the company had a revenue from operations of Rs 171.24 crore with an EBITDA of Rs. 13.04 crore and PAT of Rs 4.64 crore.
The company has an operating history of around 15 years and manufactures and markets BIS and CE certified wires and cables.
It has two manufacturing facilities in Haridwar, Uttarakhand. The Company sells their products through a diversified sales and distribution mix, majorly by securing government tenders for supply to government projects; supply to EPC contractors for turnkey projects; and their dealer and 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.