Vruddhi Engineering Works IPO allotment: Check status, listing date, GMP and other details

The allotment for the SME IPO of Vruddhi Engineering Works will be finalised later today in the evening. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. Investors can check the status of Trust Fintech IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case.

Follow the step by step process mentioned below to check the status of allotment.

Step 1: Visit the IPO Allotment Status page on Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html)


Step 2: Select IPO from the dropdown

Step 3: Enter PAN number and 'Submit'.
TAC Infosec IPO booked 48x so far on Day 3; Radiowalla Network's issue subscribed 28x

Vruddhi Engineering Works GMP

In the unlisted market, the company's shares have no GMP, which indicates a flat to negative debut. The company has priced the offer at Rs 70 and the tentative listing date is set as April 3.

The IPO, which was completely a fresh equity issue of 7.21 lakh shares, received decent response from investors with a subscription of 12 times at close.

The net proceeds from the public offer will be used for funding the working capital requirements of the company and general corporate purposes.

Vruddhi Engineering Works is mainly engaged in offering mechanical splicing solutions to the real estate, construction and infrastructure industry by designing, engineering and supplying rebar couplers. Its offerings under this vertical include supply of rebar couplers, on-site threading services of the couplers and trading in threading machines and spares.

The real estate sector comprises four sub-sectors - housing, retail, hospitality, and commercial. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.

For the six months ended September 2023, the company clocked revenues of Rs 9.35 crore and net profit of Rs 41 lakh.

Fedex Securities is acting as the lead manager to the issue and Bigshare Services is the registrar.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)