TOP NEWS

Vinir Engineering Files for IPO with SEBI, Plans Offer-for-Sale of 53.3 Million Shares

Australian Premium

January 20, 2025

New Delhi, India

Upcoming IPO

Vinir Engineering Ltd has filed its draft papers with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO will comprise an offer-for-sale (OFS) of up to 53.3 million equity shares, each with a face value of ₹2. This OFS will be entirely executed by the promoter-selling shareholder, Nitesh Gupta.

The Book Running Lead Manager (BRLM) for the IPO is Pantomath Capital Advisors Private Limited, while KFIN Technologies Limited will serve as the Registrar.

Vinir Engineering: Expertise in Precision Manufacturing

Vinir Engineering specializes in producing critical, heavy, and precision-forged components for industries such as energy, defence, aerospace, railways, hydraulics, and high-end engineering. Its products are integral to systems like armoured vehicles, aircraft propulsion, oil and gas equipment, power turbines, and nuclear infrastructure.

The company’s manufacturing expertise spans a wide range of metals, including alloy steel, titanium, Hastelloy, stainless steel, and Inconel. With its facilities located in Bengaluru, Hosur, and Kalukondanapalli, the firm has a total installed capacity of 38,000 metric tons per annum (MTPA), capable of producing components weighing between 20 and 6,000 kilograms.

Expanding Client Base and International Footprint

Between FY22 and September 2024, Vinir Engineering added 39 new clients, bringing its total active customer base to an annual average of 60–70. The company serves over 150 unique customers from sectors like energy, aerospace, and defence, with a global presence in the US, Mexico, Spain, Malaysia, Saudi Arabia, and Canada.

Financial Performance

For FY24, Vinir Engineering reported a profit of ₹29 crore, marking an 8.8% increase from the previous fiscal year. Revenue for the quarter ended March 2024 was ₹229.5 crore, a 1.1% rise from FY23. Additionally, for the six months ending September 2024, the company posted a profit of ₹20.2 crore on a revenue of ₹103.4 crore.

Vinir Engineering’s IPO launch date and pricing details are yet to be announced, with market participants eagerly anticipating the public issue.

Check Latest Market News

Disclaimer:

CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.