Vadodara-based Vilas Transcore Ltd., engaged in the manufacturing and supply of transformer 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 Rs 139/- to Rs 147/- per Equity Share of face value Rs 10/- each for its maiden initial public offer.
The IPO will open on Monday, May 27th, 2024, for subscription and close 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 20.09 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 critical for the manufacturing of power transformers, distribution transformers & dry type transformers, high voltage / medium voltage & low voltage current transformers, that are used for distribution and transmission of electricity. 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 ISO 9001:2015 certified manufacturing facilities located at Por near Vadodara, Gujarat. The Issue is being made through the Book Building Process. The equity shares are proposed to be listed on the SME Platform of NSE.
