Varroc Engineering IPO automotive component group and is all set to make a debut in the stock market with an issue size of 1945.77 Cr.
Varroc Engineering IPO – Overview
| Issue Date | 26-28 June 2018 |
| Varroc Engineering IPO Opening Date | 26 June 2018 |
| Varroc Engineering IPO Face Value | INR 1 per share |
| Varroc Engineering IPO Price | INR 967 per share |
| Varroc Engineering IPO Lot Size | 15 Shares |
| Issue Size | 1945.77 Cr |
| Offer for sale | – |
| Issue Type | Book built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 13.45 times |
| NII (HNI) Shares | 5.08 times |
| Company Promoters | The Promoter of the Company is Tarang Jain. |
Tentative Dates
| Varroc Engineering IPO opening date | 26 June 2018 |
| Varroc Engineering IPO closing date | 28 June 2018 |
| Basis of Allotment | 3 July 2018 |
| Initiation of Refunds | 4 July 2018 |
| The credit of Shares to Demat | 5 July 2018 |
| Varroc Engineering IPO Listing Date | 6 July 2018 |
Company Overview
It designs, manufactures and supplies exterior lighting systems, plastic and polymer components, electricals-electronics components, and precision metallic components to the passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle (“OHV”) OEMs directly worldwide. The company is the second largest Indian auto component group
Industry Overview
The exports market has grown 16% between April and October 2017. CRISIL Research expects vol umes to increase over the next few months, as the efforts of OEMs to diversify into more promising geographies bear fruit. According to the IMF, these economies are expected to grow 2.6% in 2017, against 1.4% in 2016.
Objectives
- Sale of up to 15,714,038 Equity Shares by the Shareholders.
- Boost the visibility and brand image of the company.
- Provide a public market for the shares of the company.
Financial Statements
| Particulars | 31-March-18 | 31-Mar-17 | 31-Mar-16 |
| Total Assets | 68,523.92 | 58,603.80 | 52,458.55 |
| Total Revenue | 104,170.67 | 97,022.69 | 82,395.20 |
| Profit After Tax | 4,507.77 | 3,033.89 | 3,698.23 |
Strengths
- The company’s Global Lighting Business, which focuses on the design, manufacture, and supply of exterior lighting for passenger vehicles, is the sixth-largest tier-1 automotive exterior lighting manufacturer globally and one of the top three independent exterior lighting players.
- Strong, long-standing relationships with many of its customers.
- It has a comprehensive portfolio of products in the markets which allows it to be a one-stop-shop for the customers and to cross-sell products.
- A global footprint of 36 manufacturing facilities spread across seven countries, with six facilities for the Global Lighting Business, 25 for India Business and five for other Businesses.
Company Contact Information
Varroc Engineering Limited
L-4, MIDC Area
Waluj
Aurangabad 431 136
Phone: +91 240 6653 700/6653 699
Email: http://www.varrocgroup.com/
Website: http://www.varrocgroup.com
Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: varroc.ipo@linkintime.co.in
Website: https://linkintime.co.in/
Lead Manager(s)
- Citigroup Global Markets India Private Limited (Past IPO Performance)
- Credit Suisse Securities (India) Private Limited (Past IPO Performance)
- IIFL Securities Ltd (Past IPO Performance)
- Kotak Mahindra Capital Company Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
