MUMBAI: V-Guard Industries has fixed the price band of its initial public offering of 80 lakh equity shares, of Rs 10 each, in the range of Rs 80-85 share. The net issue to the public comprises 76 lakh equity shares. The issue will constitute 26.80 per cent of the fully diluted post issue capital. CRISIL has assigned IPO grade "3/5".
At the lower end of the price band, the company would raise Rs 64 crore, and at the upper, Rs 68 crore.
The Kerala-based company is engaged in the manufacturing and marketing of electronic voltage stabilizers, monobloc, jet, submersible, compressor pumps and electric motors, insulated electrical cables (house wiring, industrial), electric storage & instant water heaters, solar water heaters, ups, electric fans and is also in generation of power in a small way.
V-Guard is present in 16 states with eighteen branches including head office located in Cochin. Products are sold through a network of over 7,000 retail dealers and 105 distributors pan-India.
Capital raised from the issue will be deployed to set up cable manufacturing facilities in Coimbatore and Uttaranchal, enameling plant at Coimbatore, development and pilot production plants for water heaters, fans and pumps in Himachal Pradesh and Coimbatore, and service and distribution centers at Bangalore, Hubli and Vijaywada.
V-Guard has been making profit and paying dividends consistently since the last five years. The company achieved turnover of Rs 222.27 crore in 2006-07, a CAGR of 19.06 per cent over 2002-03. Profit after tax grew at CAGR of 28.83 per cent to Rs 13.49 crore in 2006-07 from Rs 4.899 crore in 2002-03.
At the lower end of the price band, the company would raise Rs 64 crore, and at the upper, Rs 68 crore.
The Kerala-based company is engaged in the manufacturing and marketing of electronic voltage stabilizers, monobloc, jet, submersible, compressor pumps and electric motors, insulated electrical cables (house wiring, industrial), electric storage & instant water heaters, solar water heaters, ups, electric fans and is also in generation of power in a small way.
V-Guard is present in 16 states with eighteen branches including head office located in Cochin. Products are sold through a network of over 7,000 retail dealers and 105 distributors pan-India.
Capital raised from the issue will be deployed to set up cable manufacturing facilities in Coimbatore and Uttaranchal, enameling plant at Coimbatore, development and pilot production plants for water heaters, fans and pumps in Himachal Pradesh and Coimbatore, and service and distribution centers at Bangalore, Hubli and Vijaywada.
V-Guard has been making profit and paying dividends consistently since the last five years. The company achieved turnover of Rs 222.27 crore in 2006-07, a CAGR of 19.06 per cent over 2002-03. Profit after tax grew at CAGR of 28.83 per cent to Rs 13.49 crore in 2006-07 from Rs 4.899 crore in 2002-03.
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