Vinir Engineering Filed DRHP with SEBI to Float IPO: OFS of 5.33 Crore Shares

The integrated engineering solutions company, Vinir Engineering Limited has filed the draft red herring prospectus (DRHP) with the capital market regulator, the Securities and Exchange Board of India (SEBI) to float an IPO. This upcoming IPO is entirely an offer for sale (OFS) of up to 5.33 crore shars of face value of ₹2 each. The shares will be offloaded by the promoter Nitesh Gupta.

The company has appointed Pantomath Capital Advisors Private Limited as the book running lead manager while KFIN Technologies Limited as the registrar to the issue. The shares of Vinir Engineering Limited will be listed on NSE and BSE post the IPO process.

Objective of Vinir Engineering IPO

The company will not receive any proceeds from the offer and all the offer proceeds will be taken by the promoter selling shareholder after deduction of offer related expenses and relevant taxes.

About Vinir Engineering Limited

Incorporated in 1983, Vinir Engineering Limited is an integrated engineering solutions company. The company is involved in the manufacturing of specialised, critical and heavy, precision-forged and machined components. Vinir Engineering caters to a wide range of industries and applications, including energy, defence, aerospace, railways, energy turbines, hydraulics, earthmoving, high-end engineering, amongst others. The company has a total installed capacity of 38,000 MTPA, distributed across its 3 manufacturing units.

The company earns revenue from a diversified customer base, which include companies operating in sectors like energy, defence, aerospace, railways, energy turbines, hydraulics, earthmoving, high-end engineering amongst others, spread in India and foreign countries like United States, Mexico, Spain, Malaysia, United Arab Emirates, Saudi Arabia, Tunisia, Canada, amongst others.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.