Vera Synthetic IPO

Vera Synthetic IPOBusiness description - Vera Synthetic is engaged in manufacturing of Fishing Nets, PP Yarns, PP/HDPE Ropes, PP Twines and Niwar. The company manufactures and markets its products under our flagship brand “Sujlon”. Its products are primarily used in fishing sector and other allied use thereon. The company’s manufacturing facility is divided into two units namely Division I and Division II (both situated in the same premises at Mamsa, Gujarat). The manufacturing unit is well equipped with required facilities and machineries to facilitate smooth manufacturing process. It also has in-house testing machines to test products. At present, the company caters majorly to domestic markets. Currently, it sells its products either directly to traders/fishermen or through its distribution network in Gujarat, Maharashtra, Kerala, Karnataka, Andhra Pradesh, Punjab, Tamil Nadu, Haryana, Uttar Pradesh, Delhi, Rajasthan, etc. The company has recently ventured into export markets.

Promoters of Vera Synthetic – Mr Sunil Makwana and Mr Nagin Makwana
Vera Synthetic IPO details
Subscription Dates 28 Mar - 4 April 2018
IPO Price band INR40 per share
Fresh issue 1,335,000 shares (INR5.24 crore)
Offer for sale Nil
Total IPO size 1,335,000 shares (INR5.24 crore)
Minimum bid (lot size) 3,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On NSE Emerge SME platform
Use of funds
  • Working Capital Requirements - INR3.84 crore
  • General Corporate Purpose - INR1 crore
  • Issue Expenses - INR0.50 crore
Vera Synthetic's financial performance (in INR lakh)
FY2013 FY2014 FY2015 FY2016 FY2017 6M FY2018
Total revenue 2,202.6 1,975.8 2,449.4 2,195.4 1,844.2 972.4
Total expenses 2,152.4 1,928.2 2,409.6 2,154.6 1,794.5 1,075.4
Profit after tax 18.0 32.9 4.8 27.4 34.4 -103.1
Vera Synthetic's Contact Details

Vera Synthetic Limited
Office No. UL-27, Pattani Plaza
Devubag, Dairy Road
Bhavnagar – 364 002

Phone: +91 0278 2525 434
Email: info@sujlonropes.com
Website: www.sujlonropes.com

Vera Synthetic IPO Subscription Details
Day Subscription (no. of times)
Day 1 0.71
Day 2 0.96
Day 3 1.78
Day 4 3.35
Vera Synthetic Valuation (Latest FY)

Earnings Per Share (EPS): INR0.96

Price/Earnings (P/E) ratio: 41.67

Return on Net Worth (RONW): 7.15%

Net Asset Value (NAV): INR13.37 per share

Registrar of Vera Synthetic IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai - 400 083

Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: verasynthetics.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Vera Synthetic IPO Allotment Status

Vera Synthetic IPO allotment status is now available on Link Intime's website. Click on this link to get allotment status.

Listing performance of Vera Synthetic

IPO Opening Date: 28 March 2018

IPO Closing Date: 4 April 2018

Finalisation of Basis of Allotment: 9 April 2018

Initiation of refunds: 10 April 2018

Transfer of shares to demat accounts: 11 April 2018

Listing Date: 12 April 2018

Listing Price on NSE SME: INR45 per share (up 12.5% from IPO price)

Closing Price on NSE SME: INR42.75 per share (up 6.88% from IPO price)

Vera Synthetic IPO
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