V-Marc India recordsdata for Rs 30 crore SME IPO; shares to be listed on NSE Emerge

NEW DELHI: V-Marc India, a wires and cables manufacturer, has filed paperwork with the market regulator Sebi for an SME IPO of up to 68,40,000 equity shares of face cost Rs 10 every. The proposed equity shares of the Haridwar-basically basically basically based company shall be listed on the Emerge platform of NSE.

Sources mentioned the company is calling to eliminate a pair of total of Rs 25- 30 crore. It's brooding a pair of non-public placement of 8,40,000 equity shares, area to consideration and consultation of the Guide Running Lead Manager.

The company intends to utilise the proceeds from the say to fund capital expenditure for its proposed manufacturing facility at Roorkee, which might perchance well sign Rs 15 crore. Moreover, it'd be using Rs 5 crore for working capital requirements and the balance for total company functions.

The company has an working history of round 15 years. It manufactures and markets BIS- and CE-licensed wires and cables beneath the designate name 'V-MARC'.

It has two manufacturing facilities in Haridwar, Uttarakhand. The company sells merchandise by a diversified gross sales & distribution combine, majorly by securing authorities tenders for offer to authorities initiatives and provide to

contractors for turnkey initiatives. The company has a dealer & distribution community of bigger than 650 sellers and with teach gross sales to few internal most corporations.

In FY 20 the company reported Rs 171.24 crore in earnings from operations and an EBitda of Rs 13.04 crore and profit after tax of Rs 4.64 crore.

The IPO is being managed by Pantomath Capital Advisors.

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