Business description – Vera Synthetic is engaged in manufacturing of Fishing Nets, PP Yarns, PP/HDPE Ropes, PP Twines and Niwar. The company manufactures and markets its products under our flagship brand “Sujlon”. Its products are primarily used in fishing sector and other allied use thereon. The company’s manufacturing facility is divided into two units namely Division I and Division II (both situated in the same premises at Mamsa, Gujarat). The manufacturing unit is well equipped with required facilities and machineries to facilitate smooth manufacturing process. It also has in-house testing machines to test products. At present, the company caters majorly to domestic markets. Currently, it sells its products either directly to traders/fishermen or through its distribution network in Gujarat, Maharashtra, Kerala, Karnataka, Andhra Pradesh, Punjab, Tamil Nadu, Haryana, Uttar Pradesh, Delhi, Rajasthan, etc. The company has recently ventured into export markets.
Promoters of Vera Synthetic – Mr Sunil Makwana and Mr Nagin Makwana
| Vera Synthetic IPO details | |
| Subscription Dates | 28 Mar – 4 April 2018 |
| IPO Price band | INR40 per share |
| Fresh issue | 1,335,000 shares (INR5.24 crore) |
| Offer for sale | Nil |
| Total IPO size | 1,335,000 shares (INR5.24 crore) |
| Minimum bid (lot size) | 3,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge SME platform |
Use of funds
- Working Capital Requirements – INR3.84 crore
- General Corporate Purpose – INR1 crore
- Issue Expenses – INR0.50 crore
| Vera Synthetic’s financial performance (in INR lakh) | ||||||
| FY2013 | FY2014 | FY2015 | FY2016 | FY2017 | 6M FY2018 | |
| Total revenue | 2,202.6 | 1,975.8 | 2,449.4 | 2,195.4 | 1,844.2 | 972.4 |
| Total expenses | 2,152.4 | 1,928.2 | 2,409.6 | 2,154.6 | 1,794.5 | 1,075.4 |
| Profit after tax | 18.0 | 32.9 | 4.8 | 27.4 | 34.4 | -103.1 |
Vera Synthetic’s Contact Details
Vera Synthetic Limited
Office No. UL-27, Pattani Plaza
Devubag, Dairy Road
Bhavnagar – 364 002
Phone: +91 0278 2525 434
Email: [email protected]
Website: www.sujlonropes.com
Vera Synthetic IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.71 |
| Day 2 | 0.96 |
| Day 3 | 1.78 |
| Day 4 | 3.35 |
Vera Synthetic Valuation (Latest FY)
Earnings Per Share (EPS): INR0.96
Price/Earnings (P/E) ratio: 41.67
Return on Net Worth (RONW): 7.15%
Net Asset Value (NAV): INR13.37 per share
Registrar of Vera Synthetic IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website: http://www.linkintime.co.in
Vera Synthetic IPO Allotment Status
Vera Synthetic IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
Listing performance of Vera Synthetic
IPO Opening Date: 28 March 2018
IPO Closing Date: 4 April 2018
Finalisation of Basis of Allotment: 9 April 2018
Initiation of refunds: 10 April 2018
Transfer of shares to demat accounts: 11 April 2018
Listing Date: 12 April 2018
Listing Price on NSE SME: INR45 per share (up 12.5% from IPO price)
Closing Price on NSE SME: INR42.75 per share (up 6.88% from IPO price)
