Posts

Showing posts from January, 2018

VASA Retail and Overseas Ltd IPO subscribes 206 times

Image
The Initial  Public  Offer of  VASA Retail and Overseas Ltd, engaged in the retail business, manufacturing, trading a wide range of stationeries and raw materials, received an overwhelming response from the investors. The public issue which opened for subscription on Jan 24, 2018, was oversubscribed by 206 times. The HNI and Retail portion subscribed 175.93 and 261.24 times respectively on the last day, as per data available on NSE Emerge platform.
Vasa Retail and Overseas Ltd public issue of up to16, 00,000Equity Shares of face value of Rs. 10 each for cash at price of Rs. 30 per Equity Share, aggregating up to 480 lakhs, will list on NSE Emerge.  The net proceeds from the IPO will be utilized for meeting working capital requirements, general corporate and issue expenses.  The Lead Manager to the Issue is Hem Securities Limited, a leader in SME IPOs and the Registrar to the Offer is Bigshare Services Pvt. Ltd.
About VASA Retail and Overseas Ltd Incorporated on October 20, 2017, VASA R…

VASA Retail and Overseas Ltd IPO opens on NSE Emerge

Image
VASA Retail and Overseas Ltd, engaged in the retail business, manufacturing, trading a wide range of stationeries and raw materials, proposes to open its public issue of up to16, 00,000Equity Shares of face value of Rs. 10 each for cash at price of Rs. 30 per Equity Share, aggregating up to 480 lakhs, on 24 January 2018 on NSE Emerge. The issue will close on 29 January 2018.
The net proceeds from the IPO will be utilized for meeting working capital requirements, general corporate and issue expenses.  The Lead Manager to the Issue is Hem Securities Limited, a leader in SME IPOs and the Registrar to the Offer is Bigshare Services Pvt. Ltd.
For the fiscal year ended on March 31, 2017, March 31, 2016 and March 31, 2015 the total revenue of the Company stood at Rs. 2355 lakhs Rs. 2163 lakhs and Rs. 1868 lakhs respectively. Further, Company’s PAT for the fiscal year ended on March 31, 2017, 2016 and 2015 as per Restated Financial Statements were Rs. 91 Lakhs, Rs. -0.14 lakhs and Rs. -0.11 La…

Ice Make Refrigeration Limited receives Care BBB + (Care Triple B Plus) Rating

Image
Ice Make Refrigeration Limited (Ice Make), one of the leading manufacturer & supplier of cooling solutions equipment, has received a revision in rating from BBB Minus (Triple B Minus) to BBB Plus (Triple B Plus) fromCARE Ratings. The revised rating indicates stable and positive business outlook of the company.
Care Ratings in its report said “The revision in ratings for Ice Make Refrigeration Limited factors in the healthy growth in its total operating income (TOI) during FY17, improvement in its operating profitability and debt coverage indicators. The revision also factors in the sizeable fund raised by Ice Make through its IPO (concluded in November 2017), the proceeds of which are expected to be utilized by Ice Make for its capex and working capital requirements, without resorting to major additional debt in the medium term. The ratings continue to derive strength from long standing experience of promoters into refrigeration equipment manufacturing industry coupled with its es…