Vinir Engineering Files DRHP for IPO with SEBI
Vinir Engineering Ltd., an integrated engineering solutions provider, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO).
Vinir Engineering - Company Details
Vinir Engineering is an integrated solutions provider specialising in the manufacturing of critical, heavy, precision-forged, and machined components. These components serve various industries, including energy, defence, aerospace, railways, earthmoving, and high-end engineering. The company operates with a total installed capacity of 38,000 MTPA, spread across three manufacturing units in Karnataka and Tamil Nadu.
For the financial year 2024, Vinir Engineering reported revenue of Rs 229.5 crores, which reflected a 1.1% growth compared to 226.9 crores in the fiscal year 2023. It also reported a net profit of ₹28.9 crores, marking an 8.8% increase from the 26.6 crores in the previous year.
IPO Structure
Vinir Engineering Ltd. has submitted its preliminary draft papers to SEBI, seeking approval to float an IPO. According to the DRHP, the IPO is an offer-for-sale (OFS) of up to 53.3 million equity shares by the promoter Nitesh Gupta. Thus, the funds raised (after meeting IPO-related expenses) will go entirely into the hands of the promoter; the company will get none of it for development purposes. The shares will carry a face value of ₹2 each.
Book Running Lead Managers (BRLM)
Pantomath Capital Advisors Private Limited has been appointed the Book Running Lead Manager (BRLM) for the upcoming public issue, and KFIN Technologies Limited is the Registrar.
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