Varroc Engineering IPO- Upcoming IPO in 2018

In the list of upcoming IPOs Varroc Engineering Limited is planning to launch IPO (Initial Public Offering). The tentative size of the upcoming IPO i.e. Varroc Engineering IPO is of Rs 1,945.77cr. Varroc Engineering IPO will open 26 June, 2018.

• Varroc Engineering IPO is of Book Built Issue IPO.
• Varroc Engineering IPO will open on 26 June & close on 28 June.
• Issue Price of the IPO is Rs 965 –Rs 967 per Equity shares.
• Varroc Engineering Limited is an automotive component maker.

Varroc Engineering IPO-News Updates:

1. Varroc Engineering Limited Profile:

• Varroc Engineering Limited (VEL) was established on 11 May, 1988 under the companies Act, 1956 at Mumbai.
• At the time of incorporation it was a private limited company. So the name of the company was Varroc Engineering Private Limited.
• Later on the company was converted into public limited company on July 1, 1997.plus the name of the company was also changed to “Varroc Engineering Limited (VEL)”.
• Varroc Engineering Limited is an automotive component maker.
• VEL is engaged in design, manufacture and supply of exterior lighting systems, plastic and polymer components and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle directly worldwide.
• Varroc Engineering Limited (VEL) is having 36 manufacturing facilities and 16 R& D center in 10 countries.
• Varroc Group is been doing good business with sale of 1.5 billion USD in 2016-17.
• They are one of the leading global passenger car lighting suppliers and top two wheeler auto component suppliers in India.

2. Objective of the Varroc Engineering IPO:

• The objective of the offer is to get the benefit of listing the Equity shares on the Stock Exchange.
• Plus to carry out the offer for sale by selling shareholders.
• Company thinks that by listing its share on Stock Exchange Company would be getting more Visibility, Brand image and provides liquidity to its shareholders.
• The listing will also provide a public market for the Equity Shares in India.
• The Selling Shareholders have approved the transfer of their respective portion of the Equity Shares pursuant to the Offer for Sale as set out below:

1. Tarang Jain- 1,752,560
2. Omega TC Holdings Pte. Ltd.- 15,373,608
3. Tata Capital Financial Services Limited- 1,410,432

3. Issue Details of Varroc Engineering IPO:

• Issue Open: Jun 26, 2018
• Issue Close : Jun 28, 2018
• Issue Type: Book Built Issue IPO
• Issue Size:20,121,730 Equity Shares of Rs 1 aggregating up to Rs 1,945.77 Cr
• Face Value: Rs 1 Per Equity Share
• Issue Price: Rs 965 – Rs 967 Per Equity Share
• Market Lot: 15 Shares
• Minimum Order Quantity: 15 Shares
• Listing At: BSE, NSE
• Retail Allocation: 35%

4. Financial Summary of Varroc Engineering Limited:

Particulars	For the year/period ended (in Rs. Million)
	31-Dec-17	31-Mar-17	31-Mar-16	31-Mar-15
Total Assets	65,105.41	58,603.80	52,458.55	44,284.68
Total Revenue	74,154.21	97,022.69	82,395.20	70,384.64
Profit After Tax	3,079.59	3,033.89	3,698.23	168.09

5. Promoter of the Company:

There is only one promoter of the company.i.e

Tarang Jain

6. Corporate Identification Number (CIN):

U28920MH1988PLC047335

7. Varroc Engineering IPO Prospectus:

Draft Red Herring Prospectus

8. Registered Address of the company:

L-4, MIDC Area, Waluj, Aurangabad 431 136

9. Official Website of the company:

http://www.varrocgroup.com/ rel=nofollow

10. Lead Manger to the issue:

1. Citigroup Global Markets India Private Limited

2. Credit Suisse Securities (India) Private Limited

3. IIFL Holdings Limited

4. Kotak Mahindra Capital Company Limited

11. Registrar to the Varroc Engineering IPO:

Link Intime India Private Limited C-101, 1st floor, 247 Park,

L B S Marg Vikhroli West, Mumbai 400 083

Tel: +91 22 4918 6200 Fax: +91 22 4918 6195

 E-mail: varroc.ipo@linkintime.co.in

Investor grievance e-mail: varroc.ipo@linkintime.co.in

 Contact Person: Shanti Gopalkrishnan

Website: www.linkintime.co.in SEBI Registration No.: INR000004058

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