Visaman Global Sales IPO Closed
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Schedule of Visaman Global Sales
| 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 |
Note: The 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 can be checked on the registrar's website and the exchange website.
About Visaman Global Sales
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, colour-coated coils, MS sheets, GP and GC sheets, CR sheets, HR sheets and plates, colour-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.
Financials of Visaman Global Sales
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹16.05 crores |
| Fresh Issue | ₹16.05 crores |
| Offer for sale | – |
*All figures except EPS are in ₹ Crores
Risks
- 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.