The Vision Infra Equipment Solutions IPO is a book-built issue worth ₹106.21 crores, consisting entirely of a fresh issue of 65.16 lakh shares.
The IPO opens for subscription on September 6, 2024, and closes on September 10, 2024. The allotment is expected to be finalized on Wednesday, September 11, 2024, with the IPO listing on the NSE SME on Friday, September 13, 2024.
The price band for the Vision Infra Equipment Solutions IPO is set between ₹155 and ₹163 per share. The minimum application lot size is 800 shares, requiring a minimum investment of ₹130,400 for retail investors. For HNI investors, the minimum investment is 2 lots (1,600 shares) totaling ₹260,800.
Hem Securities Limited is the book-running lead manager for the IPO, with Link Intime India Private Ltd serving as the registrar. Hem Finlease is the market maker for the issue.
Below are the details of Vision Infra Equipment Solutions Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Vision Infra Equipment Solutions IPO Details
| IPO Date | September 6, 2024 to September 10, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹155 to ₹163 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 6,516,000 shares (aggregating up to ₹106.21 Cr) |
| Fresh Issue | 6,516,000 shares (aggregating up to ₹106.21 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,300,000 |
| Share holding post issue | 23,816,000 |
| Market Maker portion | 336,000 shares |
Vision Infra Equipment Solutions IPO Timeline
| IPO Open Date | Friday, September 6, 2024 |
| IPO Close Date | Tuesday, September 10, 2024 |
| Basis of Allotment | Wednesday, September 11, 2024 |
| Initiation of Refunds | Thursday, September 12, 2024 |
| Credit of Shares to Demat | Thursday, September 12, 2024 |
| Listing Date | Friday, September 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 10, 2024 |
Vision Infra Equipment Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹130,400 |
| Retail (Max) | 1 | 800 | ₹130,400 |
| HNI (Min) | 2 | 1,600 | ₹260,800 |
Vision Infra Equipment Solutions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Vision Infra Equipment Solutions IPO Promoter Holdings
Sachin Vinod Gandhi, Chetan Vinod Gandhi, and Sameer Sanjay Gandhi are the company promoters.
Vision Infra Equipment Solutions IPO Anchor Investors
| Bid Date | September 5, 2024 |
| Shares Offered | 1,853,600 |
| Anchor Portion Size (In Cr.) | 30.21 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 11, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 10, 2024 |
Vision Infra Equipment Solutions IPO Financial Information
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 26,796.33 | 24,743.86 | 20,848.77 | 14,886.92 |
| Revenue | 20,718.23 | 36,889.54 | 30,510.16 | 16,254.47 |
| Profit After Tax | 1,544.98 | 918.85 | 927.88 | 514.17 |
| Net Worth | 1,730.00 | 3,000.37 | 2,514.12 | 1,583.54 |
| Total Borrowing | 20,664.02 | 15,145.70 | 13,082.08 | 9,285.88 |
| Amount in ₹ Lakhs | ||||
Vision Infra Equipment Solutions IPO Review
Vision Infra Equipment Solutions Ltd. (VIESL) provides equipment services for sectors like airports, smart cities, irrigation, mining, and more. They specialize in renting road construction equipment and trading/refurbishing it. The company offers two pricing models: time-based and output-based, allowing flexibility for customers in infrastructure and road construction.
VIESL has a large fleet of equipment from top OEMs, which is rented out to major infrastructure companies. As of March 2024, the company owned 395 pieces of road construction equipment and served around 133 customers, up from 95 in FY22. It employs 227 full-time and 763 contractual workers.
The company is launching its first IPO, offering 6,516,000 shares at a price range of ₹155-163 per share, aiming to raise ₹106.21 crores. The IPO, which opens on September 6 and closes on September 10, 2024, represents 26.44% of the company’s post-IPO capital. Proceeds will fund equipment purchases, working capital, and other corporate needs.
Financially, VIESL’s revenue has been stable over the past three years, with a notable increase in net profit in FY24. The issue is priced at a P/E of 15.05 based on FY24 consolidated earnings, making it relatively fully priced. The company has not paid dividends in the past but adopted a dividend policy in March 2024. There are no listed peers for comparison, and Hem Securities Ltd. is the sole lead manager for the IPO. Investors may consider this for long-term investment.