Vilas Transcore IPO makes stellar debut on NSE SME Platform, lists at Rs. 215, 46.25% premium over issue price

Vilas Transcore Limited, a leading manufacturer of power distribution and transmission sector components, has listed on the NSE SME platform at a premium of 46.25% over its IPO price. The company’s IPO, which opened on May 27 and closed on May 29, was oversubscribed by 27.50 times, indicating strong investor interest in the issue.

Vilas Transcore IPO details

The Vilas Transcore IPO was a SME IPO that aimed to raise ₹95.26 crores through the issue of 6,480,000 shares at a price band of ₹139 to ₹147 per share. The IPO was open for subscription from May 27 to May 29, and the allotment date was May 31. The listing date for the IPO was June 3.

Vilas Transcore IPO subscription status

The IPO saw strong subscription from various categories of investors. As of the close of Day-2, the overall subscription stood at 27.50 times, with retail investors leading the charge at 39.32 times. The QIB and HNI/NII categories also saw significant subscriptions, with the QIBs bidding for 6.04 times the shares on offer and the HNI/NII investors bidding for 28.54 times.

Vilas Transcore listing performance

The stock listed at ₹215 per share, a premium of 46.25% over the IPO price of ₹147 per share. This strong listing performance reflects the confidence investors have in the company’s growth prospects and its position in the power distribution and transmission sector.

Vilas Transcore financial performance

Vilas Transcore has a strong financial track record, with revenue from operations increasing from ₹132.65 crores in FY21 to ₹282.60 crores in FY23. The company’s profit after tax (PAT) has also shown a steady growth, increasing from ₹5.23 crores in FY21 to ₹20.22 crores in FY23.

Objectives of Vilas Transcore IPO

The company plans to utilize the raised capital from the IPO to fund its working expenditure requirements, purchase plants and machinery, construct factory buildings, and make strategic investments and acquisitions. The IPO is expected to enhance the company’s financial position and provide a platform for future growth.

Vilas Transcore’s strong listing performance and high subscription levels indicate a positive sentiment among investors. The company’s financial performance and growth prospects are expected to drive its future growth, making it an attractive investment opportunity for those looking to capitalize on the power distribution and transmission sector.