Established in 2020, Vruddhi Steel Limited provides mechanical splicing solutions to the real estate, construction and infrastructure industries through the development, design and supply of reinforcement couplers.
The company’s offering list includes:
Vruddhi Steel’s customers include construction contractors, real estate developers and infrastructure companies. As of March 31, 2023, the company has served around 84 customers in the mechanical splicing vertical and supplied steel products to over 2 customers in the trading sector.
As of June 30, 2023, the company employed over 20 people at its warehouse and head office.
Vruddhi Engineering Works Limited’s revenue increased by 493.53% and profit after tax (PAT) rose by 697.99% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 808.58 | 782.33 | 100.14 | 3.02 |
| Revenue | 935.36 | 1,309.62 | 220.65 | 0.44 |
| Profit After Tax | 41.01 | 75.33 | 9.44 | -0.88 |
| Net Worth | 253.13 | 212.12 | 9.56 | 0.12 |
| Reserves and Surplus | 68.77 | 118.55 | 8.56 | -0.88 |
| Total Borrowing | 301.91 | 323.37 | 47.49 | 2.22 |
| Amount in ₹ Lakhs | ||||
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Vruddhi Engineering Works IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
As per our analysis and Based on the information we have, this is the output.
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