Wire & Cable Manufacturer, V-Marc files for IPO First manufacturing Company from Uttarakhand to be listed on NSE Emerge

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Wire & Cable Manufacturer, V-Marc files for IPO First manufacturing Company from Uttarakhand to be listed on NSE Emerge

Wire & Cable Manufacturer, V-Marc files for IPO First manufacturing Company from Uttarakhand to be listed on NSE EmergeHARIDWAR, India, Feb. 19, 2021 /PRNewswire/ — Haridwar based, Wires and Cables manufacturer, V-Marc India Ltd, has filed its document with the regulator for an Initial Public Offering of upto 68,40,000 Equity Shares of Face Value of Rs. 10 per equity share. As per market sources, the company plans to raise about Rs. 25 – 30 crores. The company may consider to do a private placement of 8,40,000 equity shares subject to consideration and consultation of the Book Running Lead Manager.

The company intends to utilize the net proceeds from the issue to fund the capital expenditure for its proposed new manufacturing facility at Roorkee to the tune of Rs. 15.00 crore, for working capital requirements to the tune of Rs. 5.00 crore and balance for general corporate purposes. The company has an operating history of around 15 years and manufactures and markets BIS and CE certified wires and cables under the brand name ‘V-MARC’ out of its two manufacturing facilities in Haridwar, Uttarakhand. The Company sells their products through a diversified sales & distribution mix, majorly by 1) securing government tenders for supply to government projects 2) supply to EPC contractors for turnkey projects and 3) their dealer & distribution network of more than 650 dealers and direct sales to few private companies. It has widespread domestic presence through its customers spread over 21 states. It caters to a diverse customer base comprising government companies, PSUs, retailers, distributors, dealers and contractors across industries including power, real estate, telecom and railways.

In FY 20, the company had a revenue from operations of Rs 171.24 cr with an EBITDA of Rs. 1304.95 lakhs and PAT of Rs. 464.60 lakhs.

The wires and cables industry which consists of power cables, building wires, telecom cables, control & instrumentation cables, optical fiber cables and other cables is projected to grow at a CAGR of 11% and is a direct beneficiary of development of power generation and distribution and infrastructure and comprises a share of 40% of the electrical industry in the India.

The proposed equity shares are to be listed on the Emerge Platform of the National Stock Exchange.

The issue is lead managed by Pantomath Capital Advisors Limited. SME market which saw a lull in the past two years due to the market conditions and economic scenario, is gearing up once again to be revived with interesting companies filing for an IPO on SME Exchanges. The past six months saw bumper listings of many large companies on the Main Board which indicates positive market sentiments and should be a boost for SME markets as well in the coming year.

About V-MarcV-Marc is one of the global leader in providing reliable and consistent quality of products, we enable our clients to achieve more and outperform their competitors and stay ahead of the innovation curve. The growth of the latter is the first stepping stone towards the growth of the company and hence customer’s satisfaction is its prime objective. V-Marc has earned the trust and reputation in India by winning the customer’s confidence. Several thousand kilometre of LT PVC cables of 1.1 KV voltage grade, several lacs kilometers of wires & Cables have been manufactured and are in operation in different parts of India.V-marc’s LT XLPE / PVC Cables are preferred choice in Power Plants, Distribution Systems, Heavy Industries, and many other utilities. The Organization is also committed to comply with all applicable environments, health & safety legislation and all requirements of interested parties. We are poised for a big growth both in quantity and quality.

Website – https://v-marc.com/ PWRPWR

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