V R Infraspace IPO, valued at Rs 20.40 crores, offers 24 lakh fresh shares. Subscriptions open on March 4, 2024, closing on March 6, 2024. Allotment is expected by March 7, 2024, with listing on NSE SME slated for March 12, 2024, at Rs 85 per share. Retail investors require a minimum investment of ₹136,000 for 1600 shares, while HNIs must invest a minimum of ₹272,000 for 2 lots (3200 shares).
Beeline Capital Advisors Pvt Ltd acts as the book running lead manager, with Link Intime India Private Ltd as registrar, and Spread X Securities as market maker.
About V R Infraspace Limited:
Established in December 2015, V R Infraspace Limited focuses on residential and commercial real estate development in and around Vadodara, Gujarat. Their projects, under the brand “VR,” offer luxurious yet affordable accommodations with security systems, recreational facilities, and more.
Notable completed projects include VR Celebrity Luxuria and VR Imperia residential complexes, alongside VR One Commercial Business Center.
As of September 30, 2023, the company reported a consolidated total income of Rs. 732.41 Lakhs and a profit after tax of Rs. 89.54 Lakhs.
The company’s registered office is located in Vadodara, Gujarat, India. It currently employs 9 individuals, including key management personnel, as of August 31st, 2023.
Objectives of the Issue (V R Infraspace IPO):
The net proceeds from the fresh issue will be utilized for the following purposes:
- Investment in the subsidiary, M/s Narnarayan Enterprise.
- Meeting working capital requirements.
- General corporate purposes.
- Covering issue expenses.
