Vinny Overseas Limited being engaged in batteries industry which is largely dominated by unorganized sector competing on pricing, supplying qualitative products is of utmost importance in the industry and the company strives to ensure that it adheres to quality standards. Vinny Overseas IPO comprises of 25,96,000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Vinny Overseas IPO release date, IPO offer price, subscription, Vinny Overseas IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Vinny Overseas IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||7.9/10|
Summary of Vinny Overseas IPO
Vinny Overseas engaged in the processing of fabrics for shirting, suiting and dress materials through manufacturing process of weaving, dyeing, printing and finishing. The Issue comprises of a Public Issue of 25,96,000 Equity shares of face value of Rs.10.00 each fully paid up. The Promoter of this company is Hiralal Parekh. The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Bigshare Services Private Limited.
From FY 2016-17 to FY 2017-2018, as per the Restated Financial Statements:
From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 32.75% and 80.52%, respectively.
- Their total income has grown from Rs. 9833.52 Lakhs in FY 2017 to Rs. 13054.15 Lakhs in FY 2018, and their profit for the year has increased from Rs. 170.38 Lakhs in FY 2017 to Rs. 307.56 Lakhs in FY 2018. Total revenue increased by 32.75% to Rs. 13,054.15 lakhs for the financial year 2017-18 from Rs. 9,833.52 lakhs for the financial year 2016-17
- The pre-issue net worth of the Company as of March 31, 2018 and as of March 31, 2017 was Rs. 1616.89 lakhs and Rs. 1309.34 lakhs respectively as per the Restated Financial Statements. The book value per Equity Share as of March 31, 2018 and as of March 31, 2017 was Rs. 24.49 and Rs. 19.83 respectively the Restated Financial Statements.
- Their other income decreased by 9.29% to Rs. 28.70 lakhs for the financial year 2017-18 from Rs. 31.64 lakhs for the financial year 2016-17 mainly due to decrease in discount income by Rs. 5.09 lakhs, income from write back of liabilities by Rs. 3.11 lakhs and profit on sale of assets by Rs. 1.28 lakhs among others.
- Profit after tax increased by 80.52 % to Rs. 307.56 lakhs for the financial year 2017-18 from Rs. 170.38 lakhs for the financial year 2016-17.
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Vinny Overseas IPO Date
The opening and the closing date of Vinny Overseas Limited IPO is 28 Sept 2018 – 3 Oct 2018.
Vinny Overseas IPO Subscription
|Day / Date||QIB||NII||RII||Total Subscription|
|Day 1 :28 Sept 2018|
|Day 2 : 1 Oct 2018|
|Day 3 : 3 Oct 2018|
|Shares Offered or Net Issue|
Vinny Overseas IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Vinny Overseas IPO Price Band
The face value of each share is Rs 10, and Issue Price Rs. 40.
Vinny Overseas IPO Equity Share Offering
25,96,000 Equity Shares of Rs 10/- each and Issue Price Rs. 40 Per Equity Share, aggregating up to Rs 10.38 Crores.
Vinny Overseas Limited – Company Overview
Vinny Overseas Limited was converted into a Public Limited Company pursuant to shareholders resolution passed at Extra-ordinary General Meeting of the Company held on February 21, 2017 and the name of the Company was changed to Vinny Overseas Limited issued by the Registrar of Companies Gujarat, Dadra & Nagar Haveli.
The Company engaged in the processing of fabrics for shirting, suiting and dress materials through manufacturing process of weaving, dyeing, printing and finishing and this Company procures Grey Fabric from the domestic market and further dyes the same as per the customer’s requirements on the basis of quality of the fabric, sizing requirements etc.It is also engaged in Job-Work for wholesale cloth merchants and also trade in grey cloth as per the order received from the customer.
Company has also been recognized by Director General of Foreign Trade, Ministry of Commerce and Industry as a “One Star Export House” and holds a valid certificate upto 2020. This company majorly focuses in quality of fabrics by utilizing plant and machineries with requisite technology, delivering quality textiles at competitive prices and maintaining long term association with the clients.
For the financial year 2017-18, the Company has processed 3,82,87,548 meters of fabrics. The unit has the capacity to print, dye and process wide range of fabrics i.e. cotton, polyester, viscose and man-made & blended fabrics suitable for men’s wear, women’s wear, home furnishing and many other applications.The processing unit is located at Isanpur Road, Narol, Ahmedabad in the state of Gujarat.
The Company is promoted by Hiralal Parekh and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Vinny Overseas Limited:
- Experienced promoters and management team.
- Timely Execution of orders and Cost effective production.
- Quality of Products and Services.
- Locational Advantage.
- Scalable Business Model.
- In-house Product designing.
Business strategies of Vinny Overseas Limited:
- Leveraging Market skills and Relationship.
- Focus on consistently meeting quality standards.
- Operational improvisation.
- Brand Image.
- Enhance customer base by entering new geographies to establish long-term relationships.
Vinny Overseas Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
|Amount (in INR & Lakhs)|
|Profit After Tax||307.56||170.38||111.44||97.77||67.51|
Earnings per Equity Share (in Lakhs)
|Basic & Diluted||4.66||2.58||1.69|
From the above statements, one could find that the Vinny Overseas Limited may perform well.
Vinny Overseas IPO – Promoters
The Promoter of this company is Hiralal Parekh.
List of Related Parties (Key Managerial Personnel)
- Rashmi Chauhan, Company Secretary
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Vinny Overseas IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||Upto 25,96,000 Equity Shares* of face value of Rs. 10/- each fully paid up of the Company for cash at a price of Rs. 40 per Equity share aggregating up to Rs 10.38 Crores.|
|Reserved for Market Makers||Upto 1,32,000 Equity Shares of face
value of Rs. 10/- each reserved as Market Maker portion at a price of Rs. [●] per Equity Share aggregating Rs. [●] lakhs.
|Net Issue to the Public||Upto 24,64,000 Equity Shares of face value of Rs. 10/- each at a price of Rs. [●] per Equity Share aggregating Rs. [●] lakhs.|
|Retail Investors Portion||12,32,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company at a cash price of Rs. [●]/- per Equity share aggregating Rs. [●] Lakhs will be available for allocation to Investors up to Rs. 2.00 Lakhs|
|Non-Retail Investors Portion||12,32,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of [●]/- per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors above Rs. 2.00 Lakhs|
|Equity Shares outstanding prior to the Issue||66,02,600 Equity Shares of face value of Rs.10 each|
|Equity Shares outstanding after the Issue||91,98,600 Equity Shares of face value of Rs.10 each|
Vinny Overseas IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working
- General Corporate Purposes
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Vinny Overseas IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced promoters and management team
- Timely Execution of orders and Cost effective production
- Quality of Products and Services
- Locational Advantage
- Scalable Business Model
- In-house Product designing
The relevant quantitative factors are:
|Basic & Diluted EPS||RONW (%)||NAV (Rs.)|
- Industry P/E Ratio:
- Competitive Peers:
|Particulars||Face Value (in Rs.)||EPS (In Rs.)||P/E Ratio||RONW (%)||NAV (In Rs.)|
|Vinny Overseas Limited||10.00||4.66||[●]||19.02||24.49|
|Vishal Fabrics Limited||5.00||3.56||144.70||7.87||45.23|
|Dhanlaxmi Fabrics Limited||10.00||1.82||16.88||3.58||50.78|
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Vinny Overseas IPO Lead Managers
|PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
406-408, Keshava Premises, Behind Family Court, Bandra Kurla
Complex, Bandra East, Mumbai – 400 051, Maharashtra, India
Tel: +91-22 6194 6700; Fax: +91-22 2659 8690
Email: [email protected]
Investor Grievance Id: [email protected]
Contact Person: Hardik Bhuta / Unmesh Zagade
SEBI Registration No: INM000012110
Vinny Overseas IPO Registrar to Offer
|Registrar to the Offer|
|BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opposite Vasant
Oasis, Makwana Road, Marol,
Andheri (East), Mumbai-400059, Maharashtra.
Tel: +91 22 62638200
Fax: +91 22 62638299
Email: [email protected]
Contact Person: Jibu John
SEBI Registration Number: INR000001385
- Statutory Auditor – Kishan M Mehta & Co.
- Peer Review Auditor – KPSJ & ASSOCIATES LLP.
- Bankers to the Company – HDFC Bank Limited.
Vinny Overseas IPO Review by Top 10 Stock Brokers
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