Varroc Engineering IPO
Varroc Engineering IPO — date, price band, lot size & details 2018
Varroc Engineering listed on 6 Jul 2018 at ₹1,015, 5% above the ₹967 issue price.
Varroc Engineering is a global tier 1 auto component group making exterior lighting, plastic and polymer parts, electricals and precision metal parts. Its total income was Rs 10,417.07 crore in FY2018.
Stock price
Varroc Engineering is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 26 Jun 2018
- Close 28 Jun 2018
- Allotment 03 Jul 2018
- Refund/credit 04 Jul 2018
- Listing 06 Jul 2018
Issue summary
The terms of the offer, as filed.
| IPO Dates | 26 to 28 Jun, 2018 |
|---|---|
| Price Band | ₹965 – ₹967 |
| Face Value | ₹1 |
| Lot Size | 15 Shares |
| Issue Size | ₹1955.18 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 48.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,505 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 15 shares at the ₹967 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 15 | ₹14,505 |
| Retail (max) | 13 | 195 | ₹1,88,565 |
| S-HNI (min) | 14 | 210 | ₹2,03,070 |
| S-HNI (max) | 68 | 1,020 | ₹9,86,340 |
| B-HNI (min) | 69 | 1,035 | ₹10,00,845 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 8,239.52 crore in FY2016 to Rs 10,417.07 crore in FY2018.
- 02Profit after tax rose from Rs 303.39 crore in FY2017 to Rs 450.78 crore in FY2018.
- 03EBITDA rose from Rs 591.57 crore in FY2016 to Rs 916.18 crore in FY2018.
- 04Net worth rose from Rs 1,762.88 crore in FY2016 to Rs 2,828.01 crore in FY2018.
Risks · 5
- 01Profit after tax fell from Rs 369.82 crore in FY2016 to Rs 303.39 crore in FY2017.
- 02Profit was Rs 450.78 crore on income of Rs 10,417.07 crore in FY2018, so margins are thin.
- 03Auto component demand follows the vehicle cycle; total assets were Rs 6,852.39 crore.
- 04The whole Rs 1,955.18 crore issue was an offer for sale, so none of it went to the company.
- 05The promoter held 86.3% before the issue and 85% after it, so he controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the Varroc Engineering offer document.
| Metric | 31 Mar 2018 | 31 Mar 2017 | 31 Mar 2016 |
|---|---|---|---|
| Assets | 6,852.39 | 5,860.38 | 5,245.86 |
| Total Income | 10,417.07 | 9,702.27 | 8,239.52 |
| Profit After Tax | 450.78 | 303.39 | 369.82 |
| EBITDA | 916.18 | 675.48 | 591.57 |
| NET Worth | 2,828.01 | 2,185.38 | 1,762.88 |
| Reserves and Surplus | 2,610.70 | 2,168.34 | 1,560.92 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Varroc Engineering IPO will be updated shortly.
Varroc Engineering IPO Anchor Investors
30 anchor investors across 15 fund houses committed ₹583.74 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It designs, makes and supplies exterior lighting systems, plastic and polymer components, electricals and electronics components, and precision metallic components.
It serves passenger car, commercial vehicle, two wheeler and other vehicle makers.
The IPO was Rs 1,955.18 crore and was entirely an offer for sale at Rs 967, the top of the Rs 965 to Rs 967 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Varroc Engineering IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
Citigroup Global Markets India Pvt. Ltd
74 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Credit Suisse Securities (India) Pvt. Ltd
20 issues handledBest listing: Zomato (+52.6%). Weakest: Sterling & Wilson Solar (-9.5%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Varroc Engineering?
The current Grey Market Premium is ₹27.5, or 3% over the issue price.
What is the Varroc Engineering IPO price band?
₹965 to ₹967, on a face value of ₹1.
When is the allotment?
The basis of allotment is 3 July 2018, with listing on 6 July 2018.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
