V-Marc India files 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 documents with the market regulator Sebi for an SME IPO of up to 68,40,000 equity shares of face value Rs 10 each. The proposed equity shares of the Haridwar-based company will be listed on the Emerge platform of NSE.

Sources said the company is looking to raise about a total of Rs 25- 30 crore. It is considering a private placement of 8,40,000 equity shares, subject to consideration and consultation of the Book Running Lead Manager.

The company intends to utilise the proceeds from the issue to fund capital expenditure for its proposed manufacturing facility at Roorkee, which may cost Rs 15 crore. Besides, it would be using Rs 5 crore for working capital requirements and the balance for general corporate purposes.

The company has an operating history of around 15 years. It manufactures and markets BIS- and CE-certified wires and cables under the brand name ‘V-MARC’.

It has two manufacturing facilities in Haridwar, Uttarakhand. The company sells products through a diversified sales & distribution mix, majorly by securing government tenders for supply to government projects and supply to

contractors for turnkey projects. The company has a dealer & distribution network of more than 650 dealers and with direct sales to few private companies.

In FY 20 the company reported Rs 171.24 crore in revenue 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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