Visaman Global Sales Limited- IPO

Visaman Global Sales is launching a Mainline IPO to raise Rs 16.05 crores. The IPO will open on June 24, 2024, and close on June 26, 2024. The allotment for the Visaman Global Sales IPO is expected to be finalized on Thursday, June 27, 2024. The IPO will be listed on NSE SME with a tentative listing date of Monday, July 1, 2024.

The Visaman Global Sales IPO price band is fixed at Rs 43 per share, with a market lot of 3000 shares.

Visaman Global Sales IPO Details

Visaman Global Sales IPO Lot Size

Visaman Global Sales IPO Objectives

The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:

1. General corporate purposes.
2. Funding Working Capital Requirements of the company.
3. Funding of capital expenditure requirements of the Company towards setting up
   of a manufacturing facility at Rajkot, Gujarat, India.

About Visaman Global Sales Ltd

Visaman Global Sales Ltd Incorporated in 2019 and supplies a wide range of products, including round pipes, square pipes, rectangular pipes, and various specifications of structural steel products. In addition to these long products, Visaman Global Sales Ltd also supplies structural steels customized to meet the specific needs of clients. These products include 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 panels, and wall PUF panels.

As a supplier, Visaman Global Sales Ltd does not have any manufacturing facilities of its own. However, the company maintains a stockyard in Gujarat and warehouses across Gujarat and Madhya Pradesh.

The company currently employs a staff of 41 personnel across various functions and is an ISO 9001:2015 certified organization.

Visaman Global Sales Limited Financial Information

Visaman Global Sales Limited’s revenue increased by 16.04% and profit after tax (PAT) rose by 19.72% between the financial year ending with March 31, 2023 and March 31, 2022.

Visaman Global Sales IPO Timeline

Conclusion

Visaman Global Sales Limited is launching its IPO from June 24 to June 26, 2024, aiming to raise Rs 16.05 crores by offering 3,732,000 shares at a fixed price of Rs 43 each. The IPO targets listing on the NSE SME on July 1, 2024. The company, incorporated in 2019, supplies various steel products but does not manufacture them, operating stockyards and warehouses in Gujarat and Madhya Pradesh. Financially, it has shown steady growth in revenue and profit over the past years. The raised funds will be used for general corporate purposes, working capital, and establishing a manufacturing facility in Rajkot.