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V R Infraspace Ltd IPO: Review, Valuation, Opening Date & GMP

  


V R Infraspace Limited IPO: Review, Valuation, Date & GMP

V R Infraspace Limited IPO  - Complete Overview

Established in December 2015, V R Infraspace Limited is a construction and real estate development firm primarily concentrating on residential and commercial projects in and around Vadodara, Gujarat.
With a focus on catering to both middle-income and high-income groups, the company specializes in crafting luxurious yet affordable housing options.

These residential buildings boast a range of amenities, including security systems, recreational facilities, play areas, and backup electricity.

Operating under the brand name "VR," the company's registered office is located in Vadodara, Gujarat.

Notable completed projects include VR Celebrity Luxuria and VR Imperia in the residential segment, alongside VR One Commercial Business Center in the commercial sector.

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.

V R Infraspace Limited IPO Overview:

V R Infraspace Limited IPO date is slated to be open for subscription from March 4, 2024, to March 6, 2024. This NSE SME IPO follows a Fixed Price Issue IPO.

V R Infraspace Limited IPO price is fixed at Rs.85 per share. 

The total issue size of this IPO amounts to Rs.20.40 Cr. The company has reserved 50% for retail investors and 50% for other investors. 

 

Company Financial

Compared to the previous fiscal year, V R Infraspace Limited has seen growth in total assets, net worth, and total revenue. The profit after tax has increased, while total borrowings decreased.

(Amount in Lakhs)

Period

30 Sep 2023

31 Mar 2023

31 Mar 2022

Total Assets 

6,117.91

4,328.38

4,920.59

Total Revenue

732.41

1,875.53

1,387.65

PAT

89.54

262.47

79.74

Net worth

1,290.10

1,211.86

949.39

Reserve & Surplus 

642.10

563.86

301.39

Total Borrowings

661.36

971.87

1,038.55

 

Revenue Breakup of the Company (Standalone Basis)

(Amount in Lakhs)

Particulars 

Fiscal 2023 

Fiscal 2022 

Fiscal 2021

VR Celebrity Luxuria 

0.66 

0.37 

232.12

VR Imperia* 

780.10 

370.83 

634.08

VR One* 

1009.54 

1003.24 

475.60

TOTAL 

1790.30 

1374.44 

1341.80

 

The Objective of the Issue

The Net Proceeds from the Fresh Issue will be utilized to fulfil the following objectives: 

  1. Investment into the subsidiary namely M/s Daxon Realty (Formerly known as Narnarayan Enterprise)

  2. To Meet Working Capital Requirements.

  3. General Corporate Purpose.

Peers of V R Infraspace Limited IPO

Name of the company

Face Value (₹)

EPS (₹)

P/E Ratio

V R Infraspace limited

10.00

4.04

21.04

Samor Reality

10.00

0.22

135.23

Laxmi Goldorna House Limited

10.00

0.19

343.68

 

 

 

IPO's Strengths 

  • Experienced Management Team.

  • Well-established brand and reputation in the industry.

  • Established operation methodology for efficient processes.

  • Scalable Business Model capable of adapting to growth opportunities.

  • Commitment to Quality Assurance and Standards in all operations.

  • Proven ability to create projects that redefine the surrounding geography and generate value.

 

IPO weaknesses 

  • A portion of the proceeds from the issue will fund the 'V R Vivanta' project by Daxon Reality (formerly Narnarayan Enterprises), a subsidiary not fully owned by the company.

  • The company's entire sales are concentrated in the Vadodara, Gujarat region, leaving operations vulnerable to adverse developments.

  • Both the company and its subsidiary need specific approvals and licenses as part of their regular business activities.

  • Significant risk is associated with the time required to complete each project.

  • The company is currently involved in ongoing legal proceedings.

  • Competition in the company's business comes from both organized and unorganized players.

 

 

IPO GMP Today 

The Latest GMP of V R Infraspace Limited IPO is Rs.6.

V R Infraspace Limited IPO timetable (Tentative)

V R Infraspace Limited IPO is scheduled from March 4 to March 6, 2024, with allotment on March 7, refund initiation on March 11, and listing on March 12, 2024.

Events 

Date

IPO Opening Date

March 4, 2024

IPO Closing Date

March 6, 2024

IPO Allotment Date 

March 7, 2024

Refund initiation 

March 11, 2024

IPO Listing Date

March 12, 2024


V R Infraspace Limited IPO Details 

V R Infraspace Limited IPO, with a face value of Rs.10 per share, opens on March 4 and closes on March 6, 2024, offering2,400,000 shares at Rs.85 per share, with a lot size of 1600 shares, aiming to raise Rs.20.40 Cr, and will be listed on NSE SME.

IPO opening & closing date 

March 4, 2024 to March 6, 2024

Face value 

₹10 per share

Issue Price

₹85 per share

Lot Size

1600 Shares

Price of 1 lot

₹136,000

Issue Size

2,400,000 shares (aggregating up to ₹20.40 Cr)

Fresh issue 

2,400,000 shares (aggregating up to ₹20.40 Cr)

Listing at

NSE SME

Issue Type 

Fixed Price Issue IPO

Registrar 

Link Intime India Pvt. Ltd. 


V R Infraspace Limited IPO Lot Details 

For V R Infraspace Limited IPO, the retail investor minimum and maximum lot investments are both 1 lot (1600 shares) at Rs.136,000 while for HNI investors, the minimum investment is 2 lots (3200 shares) at Rs.272,000.

Minimum Lot Investment (Retail) 

1 lot

Maximum Lot Investment (Retail) 

1 lot

Minimum Lot Investment (HNI) 

2 lot

 

 

 

V R Infraspace Limited IPO Reservation 

Other Investors share Portion

50%

Retail Investors share Portion

50%

 

Promoters and Management of V R Infraspace Limited

Mr. Vipul Devchand Rupareliya.

  • Mrs. Sumitaben Vipulbhai Rupareliya.

Pre-issue Promoter shareholding

50%

Post-issue Promoter shareholding

72.97%

 

V R Infraspace Limited IPO Lead Managers:

  • Beeline Capital Advisors Pvt Ltd.

Dividend Policy

The company didn’t pay dividends in past fiscal years. The future payment of the dividend depends on factors like profits, past dividend trends, capital needs, legal restrictions, and other relevant considerations evaluated by the Board.

 

 

 

Conclusion

V R Infraspace Limited, with its solid footing in the construction and real estate industry, offers an exciting investment opportunity with its upcoming IPO. The company's financial performance has been consistently improving over time. Nonetheless, investors should diligently assess both the merits and drawbacks of the IPO before making any decisions.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

 

 

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Hope you loved the IPO analysis.
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Frequently Asked Questions

+

V R Infraspace Limited is a construction and real estate development firm established in December 2015, focusing on residential and commercial projects primarily in Vadodara, Gujarat. They specialize in crafting luxurious yet affordable housing options and have completed notable projects like VR Celebrity Luxuria and VR Imperia.

+

The V R Infraspace Limited IPO is scheduled to be open for subscription from March 4, 2024, to March 6, 2024. It follows a Fixed Price Issue IPO with an issue price of Rs. 85 per share. The total issue size amounts to Rs. 20.40 Cr, with 50% reserved for retail investors and 50% for other investors.

+

V R Infraspace Limited has shown growth in total assets, net worth, and total revenue compared to the previous fiscal year. The profit after tax has increased, while total borrowings decreased. 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 strengths of V R Infraspace Limited IPO include an experienced management team, a well-established brand, scalable business model, and commitment to quality assurance. However, some weaknesses include dependence on the Vadodara region for sales, ongoing legal proceedings, and competition from both organized and unorganized players.

+

Investors can participate in the V R Infraspace Limited IPO by applying during the subscription period from March 4, 2024, to March 6, 2024. The IPO offers 2,400,000 shares at Rs. 85 per share, with a lot size of 1600 shares. Retail investors can invest a minimum of 1 lot (1600 shares), while HNI investors can invest a minimum of 2 lots (3200 shares).



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