Vilas Transcore IPO: Lists at a Premium of 46.26%

Strong Listing for Vilas Transcore in NSE-SME segment

Vilas Transcore had a strong listing on 03rd June 2024, listing at ₹215.00 per share, a premium of 46.26% over the issue price of ₹147 per share in the IPO. Here is the pre-open price discovery for the Vilas Transcore IPO on the NSE.

Data Source: NSE

Vilas Transcore IPO was a book built IPO in the price band of ₹139 to ₹147 per share. Considering the strong subscription response and the anchor allocation being done at the upper end of the band, the price discovery of the IPO also happened at the upper end of band at ₹147 per share. On 03rd June 2024, the stock of Vilas Transcore listed at ₹215 per share, a premium of 46.26% over the IPO price of ₹147.00 per share. For the day, being in the 5% circuit filter category, the upper circuit price has been set at ₹225.75 and the lower circuit price has been set at ₹204.25. As of 10.05 am, the volumes were 21.12 lakh shares while the turnover (value) was at ₹4,525 lakhs. The opening market cap of the stock stands at ₹511.75 crore. The stock will be traded in the ST segment of the NSE, which is for compulsory delivery only. At 10.05 am, the stock is trading at ₹209.05, which is below the listing price of ₹215 per share. The stock of Vilas Transcore has a face value if ₹10 per share and the market lot comprises of 1,000 shares. The stock trades under the NSE symbol (VILAS) and the ISIN code for demat credits will be (INE0AZY01017).

About the Vilas Transcore IPO

The stock of Vilas Transcore IPO has a face value of ₹10 per share and it is a book built issue. The price for the book building issue is set in the price band of ₹139 to ₹147 per share. Being a book built issue, the final price will be discovered within this band. The IPO of Vilas Transcore has only a fresh issue component and no offer for sale (OFS) portion. While the fresh issue portion is EPS dilutive and equity dilutive, the OFS is just a transfer of ownership and  hence is not EPS or equity dilutive. As part of the fresh issue portion of the IPO, Vilas Transcore Ltd will issue a total of 64,80,000 shares (64.80 lakh shares), which at the upper band IPO price of ₹147 per share aggregates to fresh fund raising of ₹95.26 crore. Since there is no OFS, the fresh issue size will also double as the overall issue. Therefore, the overall IPO size will also comprise of the issue of 64,80,000 shares (64.80 lakh shares) which at the upper band IPO price of ₹147 per share will aggregate to overall IPO size of ₹95.26 crore.

Like every SME IPO, this issue also has a market making portion with a market maker inventory allocation of 3,26,000 shares. Hem Finlease Private Ltd will be the market makers to the issue. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs, post listing. The promoter holding in the company currently stands at 99.97%, which will get diluted post the IPO to 73.51%. The fresh issue funds will be used by the company for capex of its factory building, capex to acquire additional plant & machinery, and for funding strategic mergers and acquisitions in the market. Hem Securities Ltd will be the lead manager to the issue, and Bigshare Services Private Ltd will be the registrar to the issue. The market maker for the issue is Hem Finlease Private Ltd. The IPO of Vilas Transcore Ltd will be listed on the SME IPO segment of the NSE.