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- Vdeal System Ltd
Vdeal System Ltd
The Company specializes in providing solutions in Smart Low Voltage (LV) panels, Smart Medium Voltage (MV) panels, Smart Variable Frequency Drive (VFD) panels, Smart Programmable Logic Controller (PLC) panels, Air insulated & Sandwich busducts backed by In-house Product design & development, manufacturing, system integration, servicing of automation solutions and smart electrical control panels that adhere to high international IEC standards of quality and safety. The Company is a growing Integrated Electrical and Automation solution provider dealing in comprehensive electrical solutions across industries with significant presence in multiple Industry segments and the products are supplied to industry players through a Business - to - Business (B2B) model.
The Company is also fuelling the next wave of AI (Artificial Intelligence) and ML (Machine Learning)-driven innovation solution that can integrate IOT (Internet of things), AI and ML into a Cloud based Software as a Service (SaaS) Model. In 2017, the Company acquired the ongoing business of a partnership firm M/s. Vdeal System having principal place of business at Bhubaneswar, Orissa vide Takeover Agreement dated April 01, 2017 and where one of its promoter Mr. Dhiraj Kochar was partner.
The Company is planning the Initial Public Offer of 16,14,000 Equity Shares through Fresh Issue.
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Vdeal System Ltd IPO Timeline
Vdeal System Ltd IPO opens on 27-Aug-2024, and closes on 29-Aug-2024. The Vdeal System Ltd IPO bid date is from 27-Aug-2024 to 29-Aug-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Vdeal System Ltd IPO Opening Date | 27-Aug-2024 |
| Vdeal System Ltd IPO Closing Date | 29-Aug-2024 |
| Basis of Allotment | 30-Aug-2024 |
| Initiation of Refunds | 02-Sep-2024 |
| Credit of Shares to Demat | 02-Sep-2024 |
| Vdeal System Ltd IPO Listing Date | 03-Sep-2024 |
Vdeal System Ltd IPO Lot Size
Vdeal System Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 134400).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹134400 |
| Maximum | 1 | 1200 | ₹134400 |
Vdeal System Ltd IPO Details
| Vdeal System Ltd IPO Date | 27-Aug-2024 to 29-Aug-2024 |
| Vdeal System Ltd IPO Face Value | Shares of ₹10 per share |
| Vdeal System Ltd IPO Price | ₹112 per share |
| Vdeal System Ltd IPO Lot Size | 1200 |
| Issue Size | Shares of ₹10 (aggregating up to ₹18.08 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹18.08 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Dhiraj Kochar, Tapaswini Panda, Brahmananda Patra. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 To meet working capital expenses
- 2 Prepayment and repayment of all or a portion of certain secured and unsecured loan
- 3 General corporate purpose
Company Financials
Vdeal System Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 27.28 | 26.25 | 3.11 |
| 03-2023 | 15.44 | 20.75 | 1.10 |
| 03-2022 | 11.42 | 16.24 | 0.23 |
| Amount in ₹ Crore | |||
- Experienced Management Team and Robust In-House Technical Expertise.
- Tailoring or Customization of Products to Meet Unique Customer Needs.
- Best practices for Efficient Production Process and Supply Chain Management.
- Location advantage and Competitive Price.
- Nurturing a Strong Brand Reputation.
- Quality Control and Safety Commitment.
- Well Strategized Growth Plan.
- The company is dependent on its promoters and senior management and other key personnel, and the loss of, or its inability to attract or retain, such persons could affect its business, results of operations, financial condition and cash flows.
- Its business is substantially dependent on certain key customers, from whom the company derives a significant portion of its revenues. The loss of any significant customer may have a material and adverse effect on its business and results of operations.
- The company is dependent on its Top 10 suppliers for uninterrupted supply of Raw-Materials. Any shortfall in the supply of its raw materials, or an increase in its raw material costs and other input costs, may adversely affect the pricing and supply of its products with subsequently having an adverse effect on the business, results of operations and financial conditions of the company.
- The company has its registered office situated at Plot No. 4/A, 4/B & 6, Janla Industrial Area, Khordha, Jatni, Orissa- 752054, India , the company has entered into lease agreement for the same. In case of suspension or cancellation of lease by IDCO, there may be an effect on its business, results of operations and prospects.
- Its business requires the company to obtain and renew certain licenses and permits from government, regulatory authorities and the failures to obtain or renew them in a timely manner may adversely affect its business operations.
- Its business will suffer if the company fails to keep pace with rapid changes in technology and the industries on which the company focus.
- The company is dependent on third party transportation providers for the delivery of its raw material and products. Accordingly, continuing increase in transportation costs or unavailability of transportation services for them, as well the extent and reliability of Indian infrastructure may have an adverse effect on its business, financial condition, results of operations and prospects.
- The company intend to use a portion of the Net Proceeds to prepay / repay certain loan facilities.
- In addition to normal remuneration, other benefits and reimbursement of expenses some of its Directors (including its Promoters) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- The Company and its Directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, result of operations and financial conditions.
- There may be potential conflicts of interest if its Promoters or Directors get involved in any business activities that compete with or are in the same line of activity as its business operations.
- There have been several instances of delay in filing of GST returns by the Company in the past.
- The Company has negative cash flows from its operating activities majorly in the current stub period, details of which are given below. Sustained negative cash flow could impact its growth and business.
- The Company has taken short term unsecured loans that may be recalled by the lenders at any time.
- The Company has entered into certain related party transactions in the past and may continue to do so in the future.
- Its contingent liabilities as stated in its Restated Financial Statements could adversely affect the company financial condition.
- The company unable to work on its full potential and utilized its full capacity for the production and manufacturing of products.
- The Company operations requires significant amount of working capital for a continuing growth. Its inability to meet the company working capital requirements may adversely affect its results of operations.
- Trade Receivables forms a major part of its current assets. Failures to manage the company trade receivables could have an adverse effect on its sales, profitability, cash flow and liquidity.
- The company is required to furnish financial and performance bank guarantees as part of its business. The company is actively working to secure necessary bank guarantees and are confident in its ability to do so successfully. In the rare event of challenges, its proactive approach ensures effective resolution, minimizing the risk of bid security or earnest money deposit forfeiture.
- The company generally do business with its customers on purchase order basis and do not enter into long-term contracts with most of them.
- The Objects of the Offer for which funds are being raised have not been appraised by any bank or financial institution.
- The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available from the online source.
- The company operates in a competitive environment, cheap substitutions, face fair competition and low entry barriers from organized and unorganized players, which may adversely affect its business operations and financial condition.
- Technology failures or Cyber-attacks or other security breaches could have a material adverse effect on its business, results of operation or financial condition.
- The company is exposed to risks associated with fluctuation in metal prices or shortages in supply of electric components.
- Orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
- Its business is substantially dependent on the company design and engineering teams to accurately carryout the estimates and engineering studies for potential orders. Any deviation during the execution of the order as compared to its estimates could have a material adverse effect on its cash flows, results of operations and financial condition.
- Significant portion of its revenue has been generated from some states of India, any loss of business from these states may adversely affect its revenues and profitability.
- Global Shortage in chip supply could have adverse effects its manufacturing process.
- Its operations may be adversely affected in case of industrial accidents, physical hazards and similar risks at its construction sites, which could expose it to material liabilities, loss in revenues and increased expenses.
- The Company's manufacturing activities are dependant on availability of skilled and unskilled labourers. In case of unavailability of such labourers and / or inability to retain such personnel, its business operations could be affected.
- Any delay, interruption or reduction in the supply of raw materials to manufacture its products may adversely affect the company's business, results of operations, cash flows and financial condition.
- There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by the Audit Committee.
- Significant portion of its revenue has been generated from Eastern part of India, any loss of business from these states may adversely affect its revenues and profitability.
- Increase scope of offering and entering new emerging segments.
- Continued focus on post sales services and customer centric approach.
- Invest in Infrastructure and Technology.
- Entry into New Geographies and Verticals.
- Effective Marketing Methods.
Vdeal System Ltd IPO Promoter Holding
| Pre Issue Share Holding | 99.88% |
| Post Issue Share Holding | 66.90% |
Vdeal System Ltd IPO Subscription Status (Bidding Detail)
The Vdeal System Ltd IPO is subscribed - times on Aug 29, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | - |
Vdeal System Ltd IPO Prospectus
Vdeal System Ltd IPO Listing Date
| Listing Date | 03 Sep 24 |
| BSE Script | 93183 |
| NSE Symbol | VDEAL |
| Listing In | NSE - SME |
| ISIN | INE0U2M01015 |
| IPO Price | ₹112 |
| Face Value | ₹10 |
Vdeal System Ltd IPO Registrar
Cameo Corporate Services Ltd
Phone: +91 40 6716 2222
Email: investor@cameoindia.com
Website: www.cameoindia.com
Vdeal System Ltd IPO Lead Manager(s)
- Affinity Global Capital Markets Pvt Ltd
FAQs on Vdeal System Ltd IPO
Vdeal System Ltd IPO, which opens for subscription from 27-Aug-2024 to 29-Aug-2024 has an issue size of ₹18.08 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Vdeal System Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Vdeal System Ltd IPO Opens for subscription from 27-Aug-2024 to 29-Aug-2024.
The lot size of Vdeal System Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹134400 and ₹134400 respectively.
Allotment date for Vdeal System Ltd is 30-Aug-2024 and refund of application amount (in case allotment is not received) will begin from 02-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 02-Sep-2024.
The registrar for Vdeal System Ltd IPO is Cameo Corporate Services Ltd. You can check your IPO allotment status on the registrar's website.
The shares of Vdeal System Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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