Visaman Global Sales IPO

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24th – 26th Jun 2024
01 Jul 2024
₹43 – ₹43
3000 shares (₹129000)
16cr

Schedule

Issue open date 24 Jun 2024
Issue close date 26 Jun 2024
UPI mandate deadline 26 Jun 2024 (5 PM)
Allotment finalization 27 Jun 2024
Refund initiation 28 Jun 2024
Share credit 28 Jun 2024
Listing date 01 Jul 2024
Mandate end date 11 Jul 2024
Lock-in end date for anchor investors (50%) 29 Jul 2024
Lock-in end date for anchor investors (remaining) 25 Sep 2024

About

Visaman Global Sales Limited’s IPO is set to begin on June 24, 2024, with subscriptions closing on June 26, 2024. The company was incorporated on June 27, 2019, and is a steel supplier with headquarters in Rajkot, Gujarat. It offers a wide variety of products, including round pipes, square pipes, rectangle pipes, structural steels of various specifications, BGL coils, GP (GI) coils, HR coils, CR coils, color-coated coils, MS sheets, GP and GC sheets, CR sheets, HR sheets and plates, color-coated sheets, roofing PUF panel, and wall PUF panel.

The company offers customization services and sells its products through a diverse sales and distribution mix, including Business-to-Consumer (B to C), Business-to-Channel (B to CH), and Business-to-Business (B to B). It has established marketing and distribution relationships and has stockyards in Gujarat and warehouses in Gujarat and Madhya Pradesh. Further, the company is an ISO 9001:2015 certified organization, ensuring strict quality assurance in its operations.

Funds Raised in the IPO Amount
Overall ₹16.05 crores
Fresh Issue ₹16.05 crores
Offer for sale

Financial Snapshot

Financial Year Ended March 2021 March 2022 March 2023 December 2023
Total Assets 272.72 398.24 586.39 800.16
Revenue 1,363.61 3,240.72 3,760.50 2,069.13
Profit After Tax 3.34 9.46 11.33 10.16
EPS 0.70 1.97 1.78 1.45

*All figures except EPS are in ₹ Crores

Risk factors

  • Volatility in Steel Prices: The demand and pricing in the steel industry are volatile and sensitive to the cyclical nature of the industries it serves. Decreases in steel prices may have adverse effects on the business, results of operations, margins, and financial condition. Fluctuations in steel prices are influenced by factors such as raw material costs, demand and supply dynamics, production capacity, trade measures, and economic factors, which may impact revenue, margins, and financial condition.
  • Dependency on Pipe Supply for Revenue: Revenue from the supply of pipes contributes significantly to total revenue. Any loss of business from pipe products may adversely affect revenues and profitability. Dependency on a limited number of customers for revenue may expose the company to risks related to quality standards, competition, and changes in demand, impacting revenue and profitability.
  • High Volume-Low Margin Business Model: The company operates in a high volume-low margin business, which relies on growing turnover and effectively executing key business processes. Inability to do so could lead to lower profitability, affecting operating results, debt service capabilities, and financial condition.

Note:

  • The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
  • The allotment status will be available by June 28, 2024, on the Registrar’s website and the NSE website.