Visaman Global Sales Limited- IPO

NiftyTrader • June 21, 2024

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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

IPO Date	June 24, 2024 to June 26, 2024
Listing Date	[.]
Face Value	Rs 10 per share
Price	Rs 43 per share
Lot Size	3000 Shares
Total Issue Size	3,732,000 shares (aggregating up to ₹16.05 Cr)
Fresh Issue	3,732,000 shares (aggregating up to ₹16.05 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Shareholding pre issue	10,079,999
Shareholding post issue	13,811,999
Market Maker portion	192,000 shares

Visaman Global Sales IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	3000	Rs 129,000
Retail (Max)	1	3000	Rs 129,000
HNI (Min)	2	6000	Rs 258,000

Visaman Global Sales IPO Objectives

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

General corporate purposes.
Funding Working Capital Requirements of the company.
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.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	8,001.69	5,863.95	3,982.42	2,727.20
Revenue	20,691.39	37,605.01	32,407.29	13,636.19
Profit After Tax	101.61	113.33	94.66	33.47
Net Worth	1,095.31	993.70	660.38	565.72
Reserves and Surplus	395.31	293.70	180.38	85.72
Total Borrowing	5,690.85	4,345.69	1,386.10	710.34

Visaman Global Sales IPO Timeline

IPO Open Date	Monday, June 24, 2024
IPO Close Date	Wednesday, June 26, 2024
Basis of Allotment	Thursday, June 27, 2024
Initiation of Refunds	Friday, June 28, 2024
Credit of Shares to Demat	Friday, June 28, 202
Listing Date	Monday, July 1, 2024
Cut-off time for UPI mandate confirmation	5 PM on June 26, 2024

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.