Varroc Engineering IPO : Date, Price, Allotment Status, Listing, Grey Market Premium

Aurangabad based Varroc Engineering Limited is going to come out with its initial public offering (IPO) from 20 to 22 June 2018.

Varroc Engineering IPO : Date, Price, Allotment Status, Listing, Grey Market Premium

I am sure investors would be searching for all details about Varroc Engineering IPO which will help them to decide whether to invest or not in this IPO.

Varroc Engineering Company Profile :

Incorporated in 1988, Aurangabad based Varroc Engineering Limited is an automotive component group company that directly supply to original equipment manufacturers. Company 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 (by consolidated revenue for FY2017) (Source: CRISIL Research) and a leading tier-1 manufacturer and supplier to Indian two-wheeler and three-wheeler OEMs (by consolidated revenue for FY2017) (Source: CRISIL Research). It is also the sixth-largest global exterior automotive lighting manufacturer and one of the top three independent exterior lighting players (by market share in 2016) (Source: Yole).

Varroc has end-to-end capabilities across design, R&D, engineering, testing, manufacturing and supply of various products across the business. It has two primary business lines, namely (i) the design, manufacture and supply of exterior lighting systems to passenger cars OEMs worldwide (“Global Lighting Business”), which it undertakes through its subsidiaries forming part of the VLS group and (ii) the design, manufacture, and supply of a wide range of auto components in India (“India Business”), primarily to two-wheeler and three-wheeler OEMs, including exports. The India Business offers a diversified set of products across three product lines, namely 65 polymers/plastics, electrical/electronics, and metallic components. In addition, it has other smaller businesses, which include the design, manufacture, and supply of two-wheeler lighting to global OEMs, and undercarriage forged machine components for OHVs and drill bits for the oil and gas sector (“Other Businesses”).

Varroc Engineering has a global footprint of 36 manufacturing facilities spread across seven countries, with six facilities for Global Lighting Business, 25 for India Business and five for Other Businesses. As of December 31, 2017, the company’s Global Lighting Business has approximately 900 engineers located in nine R&D centers, which are located in the Czech Republic, India, China (through its China JV), Mexico, Germany and the United States of America. It has a new R&D facility which started operations in 2018 in Poland. The Global Lighting Business had 184 patents as of December 31, 2017.

Varroc Engineering Promoters:

Tarang Jain is the promoter of the company.

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Varroc Engineering IPO IPO Detail :

Issue Open: Jun 26, 2018 – 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

Important Dates of Varroc Engineering IPO :

Bid/Offer Opens On: June 26, 2018
Bid/Offer Closes On: June 28, 2018
Finalisation of Basis of Allotment: On or about July 4, 2018
Initiation of refunds: On or about July 5, 2018
Credit of Equity Shares to demat accounts: On or about July 5, 2018
Commencement of trading of the Equity Shares on the Stock Exchanges: On or about July 6, 2018

IPO Issue Allocation :

    • Qualified institutional buyers (QIBs) – 50% of the offer.
    • Non-institutional bidders – 15% of the offer.
    • Retail individual bidders – 35% of the offer.

Varroc Engineering IPO Subscription Details :

Category Shares offered Subscription (no. of times)
Day 1 Day 2 Day 3

Download Red Herring Prospectus of Varroc Engineering IPO :

To Download Draft Prospectus of Varroc Engineering IPO Click Here

Grey Market Premium (GMP) of Varroc Engineering :

Currently the Grey Market Premium of Varroc Engineering is around 20 – 25 Rs. per share.

Company Contact Information :

Varroc Engineering Limited
L-4, MIDC Area
Aurangabad 431 136
Phone: +91 240 6653 700/6653 699
Fax: +91 240 2564 540

Varroc Engineering IPO Registrar :

Link Intime India Private Ltd,
C-13 Pannalal Silk Mills Compound,
LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969

Varroc Engineering IPO Lead Manager(s) :

1. Citigroup Global Markets India Private Limited
2. Credit Suisse Securities (India) Private Limited
3. IIFL Holdings Limited
4. Kotak Mahindra Capital Company Limited

Varroc Engineering IPO Allotment Status :

You would be able to check the allotment status i.e., whether you have got the shares of Varroc Engineering or not by vising the website of Registrar of the Issue which in this case is LinkIntime.

Check Varroc Engineering IPO Allotment Status @ Check Varroc Engineering IPO Allotment Online