Vinir Engineering additionally in line for IPO, draft papers submitted to SEBI – INA NEWS

Pals of Engineering IPO: Vaneer Engineering, a maker of precision-forged and machined parts, is seeking to elevate funds by way of an IPO. For this, the corporate has filed a Draft Crimson Herring Prospectus (DRHP) with the capital market regulator SEBI. There shall be solely provide on the market of 5.33 crore fairness shares within the IPO, through which promoter Nitish Gupta will promote. New shares is not going to be issued. Which means the whole cash acquired from the IPO will go to the shareholder promoting the shares.

The Karnataka-based engineering options supplier manufactures specialised, crucial and heavy precision-forged and machined parts for a number of industries and functions together with power, defence, aerospace, railways, power generators, hydraulics, earthmoving and high-end engineering. Pantomath Capital Advisors has been appointed because the e-book operating lead supervisor to deal with this public situation.

3 vegetation in Karnataka and Tamil Nadu

Vineer Engineering has 3 manufacturing services in Karnataka and Tamil Nadu with a complete put in capability of 38,000 MTPA. Its inventory market listed rivals embody the names of Azad Engineering, MTAR Applied sciences and Balu Forge Industries.

IPOs This Week: 5 new IPOs will open within the week ranging from January 20, 7 firms shall be listed within the inventory market.

Revenue to extend by 9 p.c in fiscal 12 months 2024

Within the final monetary 12 months 2024, the corporate equipped parts to greater than 60 clients in India and internationally. Vinir Engineering posted a revenue of Rs 29 crore in FY24, up 8.8 p.c from the earlier fiscal. Income stood at Rs 229.5 crore, which is 1.1 p.c greater than FY 2023. Aside from this, for the interval of 6 months ending April-September 2024, revenue was Rs 20.2 crore and income was Rs 103.4 crore.

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