Price Band of ₹139/- – ₹147/- per equity share bearing face value of ₹10/- each (‘Equity Shares‘).Bid/Offer Opening Date – Monday, May 27, 2024 and Bid/Offer Closing Date – Wednesday, May 29, 2024.Minimum Bid Lot is 1000 Equity Shares and in multiples of 1000 Equity Shares thereafter.The Floor Price is 13.9 times the face value of the Equity Share and the Cap Price is 14.7 times the face value of the Equity Share.

VADODARA, India, May 27, 2024 /PRNewswire/ — Vadodara-based Vilas Transcore Limited engaged in the manufacturing and supply of components used in the power distribution and transmission sector, primarily to transformer and other power equipments manufacturer in India and abroad, has fixed the price band of ₹139/- to ₹147/- per Equity Share of face value ₹10/- each for its maiden initial public offer.

The Initial Public Offering (‘IPO‘ or ‘Offer‘) of the Company opens today for subscription and closes on Wednesday, May 29th, 2024. Investors can bid for a minimum of 1000 Equity Shares and in multiples of 1000 Equity Shares thereafter. The offer also includes a reservation of up to 326,000 equity shares for subscription by market makers.

The issue consists of a fresh issue of up to 64,80,000 equity shares with ‘NO Offer for Sale‘ (OFS) – from promoter and promoter group.

The Proceeds from the fresh issue will be used to the extent of Rs 5 crore for funding for strategic investment and acquisitions, Rs 20.90 crore for funding Capital Expenditure towards construction of factory building, Rs 45.20 crore for funding capital expenditure towards acquisition and installation of additional plant and machinery and general corporate purpose.

Vilas Transcore promoted by Nilesh Jitubhai Patel manufactures and supplies a different range of electrical lamination cold rolled grain oriented (C.R.G.O.) lamination core, CRGO slit coils, CRGO stacked (assembled cores), CRGO wound core and CRGO Toroidal core that are mainly used in power transformer, distribution transformer & dry type transformers, high voltage / medium voltage & low voltage current transformers.

It manufactures its products keeping in mind the industry standards and specifications given by the customer, with the use of latest technology to manufacture its products and offers its customers with the defined requirements based on the product dimensions and materials for application in the power & distribution equipment industry.

The company majorly caters to the power distribution and power engineering industry. Currently, it operates from two manufacturing facilities located at Por near Vadodara, Gujarat.

Vilas Transcore Limited clocked a profit of Rs 20.22 crores in the financial year FY23, up from Rs 17.91 crores in the previous year, an increase of 12.54%. Revenue from operations during the year FY23 increased significantly to Rs 282.60 crores from Rs 233.03 crores in the previous year, an increase of 21.27%, primarily due to an increase in revenue from domestic revenue and job work charges received.

For nine months ended December 31, 2023, revenue from operations stood at Rs 235.74 crores, and profit after tax stood at Rs 16.79 crores.

The Issue is being made through the Book Building Process, wherein not more than 50% of the Net Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Issue shall be available for allocation to Non-Institutional Investors and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders.

Hem Securities Limited is the sole book-running lead manager and Bigshare Services Private Limited is the registrar to the issue. The equity shares are proposed to be listed on the SME Platform of NSE (‘NSE Emerge‘).

Vilas Transcore Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares the Red Herring Prospectus dated May 16, 2024 has been filed with the Registrar of Companies, Ahmedabad, and thereafter with SEBI and the Stock Exchanges. The RHP is available on the website of NSE at https://www.nseindia.com/companies-listing/corporate-filings-offer-documents and is available on the websites of the BRLM at www.hemsecurities.com. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, please refer to the Red Herring Prospectus including the section titled “Risk Factors” beginning on page 26 of the Red Herring Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws in the United States, and unless so registered, and may not be issued or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. State Securities laws. The Equity Shares are being issued and sold outside the United States in ‘offshore transactions’ in reliance on Regulation “S” under the Securities Act and the applicable laws of each jurisdiction where such issues and sales are made. There will be no public offering in the United States.

LISTING: The Equity Shares issued through the Red Herring Prospectus are proposed to be listed on the NSE Limited (NSE Emerge). Our Company has received an ‘in-principle’ approval from the NSE Limited (hereinafter referred to as NSE) for the listing of the Equity Shares pursuant to letter Ref.: NSE/LIST/3405 dated May 08, 2024. For the purposes of the Issue, the Designated Stock Exchange shall be NSE. A signed copy of the Red Herring Prospectus dated May 16, 2024 has been delivered for filing to the ROC and Prospectus shall be delivered for filing to the RoC in accordance with Section 26(4) of the Companies Act, 2013. For details of the material contracts and documents available for inspection from the date of the Red Herring Prospectus up to the Bid/ Issue Closing Date, see “Material Contracts and Documents for Inspection” on page 256 of the Red Herring Prospectus.

DISCLAIMER CLAUSE OF SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”): Since the Issue is being made in terms of Chapter IX of the SEBI (ICDR) Regulations, 2018. The Red Herring Prospectus has been filed with SEBI. In terms of the SEBI Regulations, the SEBI shall not issue any observation on the Offer Document. Hence there is no such specific disclaimer clause of SEBI. However, investors may refer to the entire Disclaimer Clause of SEBI beginning on page 198 of the Red Herring Prospectus.

DISCLAIMER CLAUSE OF THE SME PLATFORM OF THE NSE (THE DESIGNATED STOCK EXCHANGE): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the Disclaimer Clause of NSE.

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