The IPO of Varroc Engineering opens on June 26th and closes on June 28th. The company is offering shares in the Rs.965 to Rs.967.
About the company
Founded in 1988, Varroc group is a global tier-1 automotive component manufacturer and supplier of exterior lighting systems, plastic and polymer components, electricals-electronics components, and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and off highway vehicle (“OHV”) OEMs directly worldwide.
With 36 world-class manufacturing facilities and 16 R&D centers in 10 countries, Varroc group is on an exponential growth trajectory clocking a sale of 1.5 billion USD in 2016-17. The company is one of the leading global passenger car lighting suppliers and amongst the top 2-wheeler automotive component supplier in India.
Purpose of the issue
To list on the exchanges and to provide an exit to the shareholders through the OFS.
|Pre issue||Post issue|
The issue consists of an offer for sales (OFS) of 2,02,21,730 equity shares.
Issue opens - June 26th
Issue close - June 28nd
Issue size - ₹ 1955 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 15 shares
Basis of allotment - 3rd July
Refunds - 4th July
Credit of shares - 5th July
Listing 6th July
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