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30 April 2024

V R Infraspace Limited IPO

V R Infraspace Ltd. has been a credible and recognized name of the real estate market Vadodara. They have been serving people of Vadodara with the best residential projects and commercial projects. With a decade of experience dealing with Commercial Property Vadodara and Flats In Vadodara, they have achieved the trust of the clients and strong knowledge for better project accomplishments in the future. Whether it is about a residential property or a commercial space their projects promise to fulfill the customer’s requirements with the best facilities. V R Infraspace IPO is a fixed price issue of Rs 20.40 crores.

The issue is entirely a fresh issue of 24 lakh shares. V R Infraspace IPO price is ₹85 per share. The minimum lot size for an application is 1600 Shares. Beeline Capital Advisors Pvt Ltd is the book running lead manager of the V R Infraspace IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for V R Infraspace IPO is Spread X Securities.

V R Infraspace IPO Overview

Detail	Description
IPO Date	March 4, 2024 to March 6, 2024
Listing Date	March 12, 2024
Face Value	₹10 per share
Price	₹85 per share
Lot Size	1600 Shares
Total Issue Size	2,400,000 shares (aggregating up to ₹20.40 Cr)
Fresh Issue	2,400,000 shares (aggregating up to ₹20.40 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	NSE SME
Share holding pre issue	6,480,000
Share holding post issue	8,880,000
Market Maker portion	121,600 shares Spread X Securities

V R Infraspace IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Monday, March 4, 2024
IPO Close Date	Wednesday, March 6, 2024
Basis of Allotment	Thursday, March 7, 2024
Initiation of Refunds	Monday, March 11, 2024
Credit of Shares to Demat	Monday, March 11, 2024
Listing Date	Tuesday, March 12, 2024
Cut-off time for UPI mandate confirmation	5 PM on March 6, 2024

V R Infraspace IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1600	₹136,000
Retail (Max)	1	1600	₹136,000
HNI (Min)	2	3,200	₹272,000

V R Infraspace IPO Reservation

Investor Category	Shares Offered
Anchor Investor Shares Offered	-
Market Maker Shares Offered	121,600 (5.07%)
Other Shares Offered	1,139,200 (47.47%)
Retail Shares Offered	1,139,200 (47.47%)
Total Shares Offered	2,400,000 (100%)

V R Infraspace IPO Promoter Holding

Share Holding Pre Issue	100%
Share Holding Post Issue	72.97%

Company & Financials

VR Infraspace ltd. was established in December 2015, V R Infraspace Limited is a real estate development company primarily focused on constructing and developing residential and commercial projects in and around Vadodara, Gujarat. The company offers a range of luxurious, affordable residential buildings with various types of accommodations. Each building has security systems, sports and recreational facilities, play areas, and electricity backups. The company provides residential and commercial projects under the brand name "VR". V R Infraspace has completed residential projects named VR Celebrity Luxuria and VR Imperia and a commercial project named VR One Commercial Business Center. As of September 30, 2023, the Company reported a Consolidated Total Income of Rs. 732.41 Lakhs and Profit after tax of Rs. 89.54 Lakhs. The company's registered office is situated at Vadodara, Gujarat, India.

V R Infraspace Limited Financial Information

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	6,117.91	4,328.38	4,920.59	5,479.20
Revenue	732.41	1,875.53	1,387.65	1,348.70
Profit After Tax	89.54	262.47	79.74	72.04
Net Worth	1,290.10	1,211.86	949.39	869.65
Reserves and Surplus	642.10	563.86	301.39	221.65
Total Borrowing	661.36	971.87	1,038.55	1,676.31
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	7.16%
ROCE	6.12%
Debt/Equity	0.51
RoNW	6.94%
P/BV	6.26
PAT Margin (%)	12.33

	Pre IPO	Post IPO
EPS (Rs)	4.05	2.02
P/E (x)	20.99	42.15

Objectives of V R Infraspace IPO

The Net Proceeds from the Fresh Issue will be utilized towards the following objectives:

1. Investment into our subsidiary namely M/s Narnarayan Enterprise.
2. To Meet Working Capital Requirement.
3. General Corporate Purpose.
4. To Meet the Issue Expenses.

V R Infraspace IPO Review

The company is in reality segmenting and constructing affordable housing projects in and around Vadodara. It is operating in a highly competitive and fragmented segment. On the financial performance front, it posted bumper profits for FY23 indicating some window dressing for inflated valuations. Based on FY24 annualized earnings, the issue appears exorbitantly priced. There is no harm in skipping this “High Risk/Low Return” bet.

FAQs for V R Infraspace IPO

What Is The Size Of The VR Infraspace IPO?

VR Infraspace Limited’s IPO consists of a fresh issue of 24,00,000 shares aggregating to INR 20.40 crores. The company plans to utilize net proceeds to meet its working capital requirement and invest in its subsidiary M/s. Daxon Realty.
What is V R Infraspace Limited's IPO?

V R Infraspace Limited IPO is a fresh issue of up to 24,00,000 Equity Shares of ₹85 each. The IPO will open on March 4, 2024.
When will V R Infraspace Limited's IPO be allotted?

The Basis of Allotment will happen on Thursday, March 7, 2024.
When will V R Infraspace Limited's IPO open for subscription?

The IPO subscription window will open on Monday, March 4, 2024.
What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,600 shares.
What Is The Price Band Of VR Infraspace IPO?

The price of the issue is INR 85 per share.