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24 November 2023

Vinyas Innovative Technologies IPO : Transforming Visions into Reality

Introduction:

Vinyas Innovative Technologies IPO, an illustrious book-built issue of Rs 54.66 crores, symbolizes a fresh offering of 33.13 lakh shares. The IPO bidding phase, active from September 27, 2023, to October 3, 2023, culminated in the final allotment on October 4, 2023. Subsequently, the shares embarked on their trading journey on NSE SME on October 6, 2023.

Pricing Dynamics:

Priced in the range of ₹162 to ₹165 per share, the IPO demanded a minimum lot size of 800 shares. Retail investors were required to invest a minimum of ₹132,000, while High Net Worth Individuals (HNIs) were expected to commit a minimum of ₹264,000 for 2 lots (1,600 shares).

Market Performance Snapshot:

As of November 17, 2023, Vinyas Innovative Technologies Ltd (VINYAS) stock was valued at ₹450.00, indicating a decrease of 2.68%. The stock opened at ₹455.20, oscillating between ₹465.00 and ₹450.00. The previous close was ₹462.40, with a total traded value of 17,600. The 52-week high and low were ₹465.00 and ₹450.00, respectively.

IPO Structure:

The IPO constituted a total issue size of 3,312,800 shares, aggregating up to ₹54.66 crores. The face value per share was ₹10, and the listing transpired on NSE SME.

Ownership Landscape:

Pre-IPO, Vinyas Innovative Technologies boasted a shareholding of 9,271,926, escalating to 12,584,726 post-issue. The market maker, Gretex Share Broking, held a portion of 166,400 shares.

IPO Distribution:

The IPO allocation reserved 5.02% for the market maker, with 28.47%, 19.01%, and 14.25% for Retail Individual Investors (RIIs), Qualified Institutional Buyers (QIBs), and Non-Institutional Investors (NIIs), respectively.

Anchor Investor Insights:

Vinyas Innovative Technologies IPO secured Rs 15.56 crores from anchor investors, with the anchor bid date on September 26, 2023. The anchor lock-in period concluded for 50% of shares on November 17, 2023, and for the remaining shares on February 13, 2024.

Financial Glance:

As of March 31, 2023, Vinyas Innovative Technologies exhibited total assets of ₹21,598.64 lakhs, revenue of ₹23,885.41 lakhs, and a net profit of ₹734.34 lakhs. The net worth stood at ₹4,522.99 lakhs, inclusive of reserves and surplus amounting to ₹4,178.79 lakhs.

Key Financial Metrics:

The market cap for Vinyas Innovative Technologies IPO was ₹207.65 crores, featuring a P/E (x) of 8.4. The post P/E was at 28.3, and the company demonstrated an Earnings per Share (EPS) of ₹19.62 and a Return on Net Worth (RoNW) of 16.13%.

IPO's Objectives:

The net proceeds from the IPO are earmarked for fulfilling the working capital requirements, general corporate purposes, and meeting issue expenses.

Expert Evaluation:

Vinyas Innovative Technologies, a global player in design, engineering, and electronics manufacturing services, portrayed stable performance for FY21 and FY22. The boosted margins for FY23 suggest the issue is fully priced, making it a viable option for well-informed investors with a medium to long-term investment horizon.

Conclusion:

Vinyas Innovative Technologies IPO has garnered substantial attention, reflecting in its dynamic subscription numbers. The company's commitment to technological innovation and global partnerships positions it as a contender for investors seeking growth opportunities. However, as always, prudent analysis of risk factors and thorough due diligence are advised before making investment decisions. If needed, consulting with financial experts can provide valuable insights tailored to individual financial goals.

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