Vishwaraj Sugar Industries Ltd
Incorporated in 1995, Karnataka-based Vishwaraj Sugar Industries Limited (VSL) is engaged in manufacturing of sugar and other allied products. The other allied products manufactured by the company are Extra-Neutral Spirits, Vinegar, Rectified Spirits, Indian Made Liquor, Carbon dioxide (CO2), and Compost. VSL also generates power from sugars byproducts for captive consumption and commercial sale.
Broadly, the business of the company can be divided into five categories, which are Vinegar, Indian Made Liquor (IML), Co-Generation, Distillery, and Sugar. The products of the company such as rectified spirit, ethanol, and extra neutral spirit come in the distillery product segment.
The company has laboratories to test the quality standards of the products and reduce the wastage. Every single output and residue from sugarcane juice is used by the company and nothing is wasted. Vishwaraj Sugar Industries has produced 32,170 tonnes of sugar in the last financial year. VSL operates from Belgaum District, Karnataka which is one of the high recovery zones for sugar production in India.
Competitive Strengths
1. Wide product range
2. A diversified but integrated business model
3. Integrated manufacturing unit
4. Principal location of manufacturing unit
5. Captive Power plant
Company Promoters:
Umesh Katti, Ramesh Katti, Nikhil Katti, Lava Katti, Kush Katti, Sheela Katti, Jayashree Katti and Sneha Nithin Dev are the promoters of the company.
Company Financials:
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||
| Total Assets | 71,954.96 | 62,418.63 | 54,319.99 | 58,898.53 | 60,501.20 | |
| Total Revenue | 30,787.55 | 26,893.11 | 32,289.84 | 40,864.55 | 34,936.75 | |
| Profit After Tax | (1,761.99) | (426.67) | 606.25 | 85.35 | (57.68) | |
Objects of the Issue:
The objects of the net fresh Issue is to raise funds for:
(a) Funding working capital requirement
(b) General corporate purpose
Vishwaraj IPO Details
| Issue Open | Sep 30, 2019 - Oct 4, 2019 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 10,000,000 Eq Shares of ₹10 (aggregating up to ₹60.00 Cr) |
| Fresh Issue | 3,000,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
| Offer for Sale | 7,000,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
| Face Value | ₹10 Per Equity Share |
| Issue Price | ₹55 - ₹60 Per Equity Share |
| Market Lot | 240 Shares |
| Min Order Quantity | 240 Shares |
| Listing At | BSE, NSE |
Vishwaraj IPO Tentative Date / Timetable
| Bid/Offer Opens On | Sep 30, 2019 |
| Bid/Offer Closes On | Oct 4, 2019 |
| Finalisation of Basis of Allotment | Oct 11, 2019 |
| Initiation of Refunds | Oct 14, 2019 |
| Credit of Shares to Demat Acct | Oct 15, 2019 |
| IPO Shares Listing Date | Oct 16, 2019 |
Vishwaraj IPO Lot Size and Price (Retail)
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 240 | ₹14,400 |
| Maximum | 13 | 3120 | ₹187,200 |
Vishwaraj IPO Promoter Holding
| Pre Issue Share Holding | 54.22% |
| Post Issue Share Holding | 32.83% |
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