Schedule of Vdeal System
| Issue open date | 27 Aug 2024 |
| Issue close date | 29 Aug 2024 |
| UPI mandate deadline | 29 Aug 2024 (5 PM) |
| Allotment finalization | 30 Aug 2024 |
| Refund initiation | 02 Sep 2024 |
| Share credit | 02 Sep 2024 |
| Listing date | 03 Sep 2024 |
| Mandate end date | 13 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 29 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 28 Nov 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 Vdeal System
Incorporated in 2009, Vdeal System is an integrated electrical and automation solution provider dealing in comprehensive electrical solutions across industries where the products are supplied to industry players through a business-to-business (B2B) model. The company is ISO 9001:2015 certified, providing solutions in smart low voltage (LV) panels and medium voltage (MV) panels, smart variable frequency drive (VFD) panels, medium voltage (MV) soft starters, Energy management systems (EMS) and smart programmable logic controller (PLC) panels. The company is also fueling the next wave of AI (Artificial Intelligence) and ML (Machine Learning)-driven innovation solutions that can integrate IOT (Internet of Things), AI, and ML into a cloud-based Software as a Service (SaaS) model.
Financials of Vdeal System
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹18.08 crores |
| Fresh Issue | ₹18.08 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 7.03 (45.77%) |
| Debt reduction | 4.64 (30.20%) |
| General corporate purposes | 3.70 (24.01%) |
Strengths
- Nurturing a strong brand reputation: Vdeal System Ltd. is a leading manufacturing company in the Eastern region of India for manufacturing and complete solution provider in the field of smart LV & MV Electrical control panels, Industrial automation, & Industrial IoT.
- Location advantage: The company’s manufacturing unit is strategically located in Bhubaneswar, Orissa which is rich in mineral resources like coal, iron ore, bauxite, and chromite and mining industries. This has ensured a stable industrial environment with established regulatory frameworks and favorable investment policies.
- Competitive pricing: To remain aggressive and capitalize on a good market share, the company believes in offering competitive prices to its customers. This helps them to sustain the cut-throat competition and hold a strong position in the market.
Risks
- Third-party dependency: The company depends significantly on third-party transportation providers to deliver raw materials and products. Any increase in transportation costs or unavailability of transportation services could adversely affect the business and profitability.
- Reliance on top clients: The company derives nearly 55% of its revenue from the top 10 customers. Any reduction in business from these customers or any other major clients could negatively impact revenue and profitability.
- Geographical concentration: A significant portion of the company’s revenue has been generated from the Eastern part of India, any loss of business from these states may adversely affect the revenues and profitability.