Vrundavan Plantation IPO is a fixed price issue of Rs 15.29 crores. The issue is entirely a fresh issue of 14.16 lakh shares.
Vrundavan Plantation IPO opens for subscription on October 30, 2023 and closes on November 1, 2023. The allotment for the Vrundavan Plantation IPO is expected to be finalized on Monday, November 6, 2023. Vrundavan Plantation IPO will list on BSE SME with tentative listing date fixed as Thursday, November 9, 2023Vrundavan Plantation IPO price is ₹108 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹129,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹259,200.
Incorporated in 1997, Vrundavan Plantation is engaged into nursery business. The company’s main business comprises of Landscape Development, Horticulture/Plantation/Landscape maintenance Works, Irrigation works and Nursery Business.
The aim of the company is to protect, restore, and increase Indian forest cover and respond to climate change. The company also aims to manage 10 million hectares on forest and non-forest land to increase forest cover and improve the quality of existing forests to green India and the world.
The competitive strength of the company are as follows:-
| Period Ended | 31 May 2023 |
| Assets | 2,321.67 |
| Revenue | 180.68 |
| Profit After Tax | 17.33 |
| Net Worth | 413.82 |
| Reserves and Surplus | 22.15 |
| Total Borrowing | 17.47 |
| Amount in ₹ Lakhs | |
The company proposes to utilize the Net Proceeds from the issue towards the following objects:
1. Repayment of Working capital and unsecured loan.
2. Working Capital Requirement
3. General Corporate Purpose,
4. Meeting Public Issue Expenses.
Vrundavan Plantation IPO opens on October 30, 2023, and closes on November 1, 2023.
| IPO Open Date | Monday, October 30, 2023 |
| IPO Close Date | Wednesday, November 1, 2023 |
| Basis of Allotment | Monday, November 6, 2023 |
| Initiation of Refunds | Tuesday, November 7, 2023 |
| Credit of Shares to Demat | Wednesday, November 8, 2023 |
| Listing Date | Thursday, November 9, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 1, 2023 |
As per our analysis and Based on the information we have, this is the output.
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