V R Infraspace Ltd IPO Timeline

V R Infraspace Ltd IPO opens on 04-Mar-2024, and closes on 06-Mar-2024. The V R Infraspace Ltd IPO bid date is from 04-Mar-2024 to 06-Mar-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
V R Infraspace Ltd IPO Opening Date 04-Mar-2024
V R Infraspace Ltd IPO Closing Date 06-Mar-2024
Basis of Allotment 07-Mar-2024
Initiation of Refunds 11-Mar-2024
Credit of Shares to Demat 11-Mar-2024
V R Infraspace Ltd IPO Listing Date 12-Mar-2024

V R Infraspace Ltd IPO Lot Size

V R Infraspace Ltd IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or 136000).

Application Lots Shares Amount
Minimum 1 1600 ₹136000
Maximum 1 1600 ₹136000

V R Infraspace Ltd IPO Details

V R Infraspace Ltd IPO Date 04-Mar-2024 to 06-Mar-2024
V R Infraspace Ltd IPO Face Value Shares of ₹10 per share
V R Infraspace Ltd IPO Price ₹85 per share
V R Infraspace Ltd IPO Lot Size 1600
Issue Size Shares of ₹10 (aggregating up to ₹20.4 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹20.4 Cr)
Offer for Sale -
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Vipul Devchand Rupareliya, Sumitaben Vipulbhai Rupareliya.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Investment into its subsidiary and part financing the construction of VR Vivanta
  • 2 To meet working capital requirements
  • 3 General corporate expenses

Company Financials

V R Infraspace Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 42.06 18.47 2.62
03-2022 49.20 14.05 0.75
03-2021 54.79 13.53 0.71
Amount in ₹ Crore
  • Experienced Management Team.
  • Established brand and reputation.
  • Operation methodology.
  • Scalable Business Model.
  • Quality Assurance and Standards.
  • Ability to create projects which redefine the surrounding geography and create value.
  • The company generate its entire sales from its operations in geographical regions of Vadodara, Gujarat and any adverse development affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
  • The company may not be able to successfully acquire land for the company projects, which may affect its business and growth prospects.
  • Its proposed investment into its Subsidiary M/s Narnarayan Enterprise will be utilised for development of one of its upcoming project. Any inability for developing its upcoming project by its subsidiary would affect business model of Subsidary and financials of the Company.
  • Failure to offer customer support in a timely and effective manner may adversely affect its relationships with the company's customers.
  • The company relies on independent third-party service providers and contractors to execute various parts of its projects and any failure on their part to perform their obligations could adversely affect its business, results of operations, and cash flows.
  • The company depends significantly on its success in its residential and commercial real estate business as this is its primary focus.
  • The Company and its subsidiary namely M/s Narnarayan Enterprise require certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate business, and the failure to obtain, retain and renew such approvals and licenses in timely manner or comply with such rules and regulations or at all may adversely affect its operations and financials.
  • The company cannot assure you that the construction of its projects will be free from any and all defects.
  • The company face significant risk with regard to length of time needed to complete each project and there could be unscheduled delays and cost overruns in relation to its ongoing and future projects.
  • The company requires certain approvals and licenses in the ordinary course of business and the failure to successfully obtain such registrations would adversely affect its operations, results of operations and financial condition.
  • Significant increases in prices of, or shortages of, or delay or disruption in supply of labour and key building materials could affect its estimated construction cost and timelines resulting in cost overruns or less profit.
  • Changes in market conditions between the time that the company acquire land construct and ultimately sale, may affect its ability to achieve the estimated profits out of its projects or at all, which could adversely affect its revenues and earnings.
  • Its business is subject to the RERA, a comparatively recent legislation which may require more time and cost to comply with. Inability to comply with the provisions of RERA may subject it to penal consequences there under.
  • Its business is subject to various operating risks at the company construction sites, the occurrence of which can affect its results of operations and consequently, financial condition of the Company.
  • There have been some instances of delays in the past with certain statutory authorities and non-compliances with certain provision of statutory regulations applicable to it. If the authorities impose monetary penalties on it or take certain punitive actions against the Company in relation to the same, its business, financial condition and results of operations could be adversely affected.
  • There are outstanding legal proceedings involving ths Company and Directors/Promoters. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
  • Its operations and the company workforce are exposed to various hazards and risks that could result in material liabilities, increased expenses and diminished revenues.
  • If the company is unable to source business opportunities effectively, its may not achieve its financial objectives.
  • Based on certain comments noted by its auditors in their report on financial statement of the Company will impact the financial position of the Company.
  • The company may not be able to manage its growth strategy effectively or it may change in the future.
  • The Company's activities are labour intensive and depends on availability of skilled and unskilled labourers in large numbers. In case of unavailability of such labourers and/or inability to retain such personnel or occurrence of any work stoppages, its business operations could be affected.
  • The Company is dependent on third parties for the supply of building materials required for its projects and is exposed to risks relating to fluctuations in commodity prices and shortage of such materials. Further, the company does not have any long term supply agreements with the raw material providers.
  • Its Subsidiary & Promoter Group entities are engaged in the line of business similar to the Company. There are no noncompete agreements between the Company and such entities. Its cannot assure that its Promoter / Directors will not favour the interests of such entities over its interest or that the said entities will not expand which may increase its competition, which may adversely affect business operations and financial condition of the Company.
  • The success of its residential real estate development business is dependent on its ability to anticipate and respond to latest trends and consumer requirements.
  • Its business is heavily dependent on the performance of, and the prevailing conditions affecting, the real estate market in Vadodara and in India generally.
  • Quality concerns could adversely impact its business.
  • Its may not be able to generate profits at the same rate of return that its earned from its historical projects.
  • Its may experience difficulties in expanding the company's business into additional geographical markets in India.
  • The company has a substantial amount of outstanding indebtedness, which requires significant cash flows to service and are subject to certain conditions and restrictions in terms of its financing arrangements, which restricts its ability to conduct its business and operations in the manner the company desire.
  • The company face significant risks before its realise any income from its real estate developments because of the length of time required for completion of each project.
  • Its may be involved in legal and administrative proceedings arising from its operations from time to time.
  • The company face competition in its business from organized and unorganized players, which may adversely affect its business operation and financial condition.
  • Any failure to comply with financial and other restrictive covenants imposed on it under its financing agreements may affect its operational flexibility, business, results of operations and prospects.
  • The company has entered into and may enter into related party transactions in the future also.
  • Its success is dependent on its Promoter, senior management and skilled manpower. The company's inability to attract and retain key personnel or the loss of services of its Promoter or Managing Director and Whole Time Directors may have an adverse effect on its business prospects.
  • If there is a change in policies related to tax, duties or other such levies applicable to it, it may affect its results of operations.
  • The present promoter of the Company are first generation entrepreneurs.
  • The company has experienced negative cash flows in the past. Any such negative cash flows in the future could affect its business, results of operations and prospects.
  • The unsecured loan availed by the Company from Director may be recalled at any given point of time.
  • Misconduct or errors by manpower engaged by it could expose the company to business risks or losses that could affect its business prospects, results of operations and financial condition.
  • Its business operations may be disrupted by an interruption in power supply which may impact its business operations.
  • If the company suffer a large uninsured loss or if its suffer an insured loss that significantly exceeds its insurance coverage, the company financial condition and results of operations may be adversely affected.
  • The company has significant ongoing funding requirements and may not be able to raise additional capital in the future. As a result, the company may not be able to respond to business opportunities, challenges or unforeseen circumstances.
  • The company is subject to the risk of failure of, or a material weakness in, its internal control systems.
  • Its business is substantially affected by prevailing economic, political and other prevailing conditions in India.
  • Its Promoters and Executive Directors hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
  • The company has not independently verified certain data in this Draft Prospectus.
  • The compan is susceptible to risks relating to unionization of its employees employed by it.
  • Any Penalty or demand raise by statutory authorities in future will affect its financial position of the Company.
  • The company has not identified any alternate source of raising the working capital mentioned as its "objects of the Issue'. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.
  • The Company's management will have flexibility in utilizing the Net Proceeds from the Issue. The deployment of the Net Proceeds from the Issue is not subject to any monitoring by any independent agency.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • Portion of its Issue Proceeds are proposed to be utilized for general corporate purposes which constitute [o] of the Issue Proceed. As on date the company has not identified the use of such funds.
  • The average cost of acquisition of Equity Shares by its Promoters could be lower than the Issue Price.
  • The company has not paid any dividends in the last five Financial Years. Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
  • The company will continue to be controlled by its Promoters and Promoter Group after the completion of the Issue, which will allow them to influence the outcome of matters submitted for approval of its shareholders.
  • Its Equity Shares have never been publicly traded and may experience price and volume fluctuations following the completion of the Issue, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Issue Price or at all.
  • Deployment of the Proceeds is not subject to any monitoring by any independent agency. The purposes for which the Proceeds of the Issue are to be utilized are based on management estimates and have not been appraised by any banks or financial institutions.
  • The company will continue to be controlled by its Promoter and Promoter Group after the completion of the Issue, which will allow them to influence the outcome of matters submitted for approval of its shareholders.
  • Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
  • The Issue Price of its Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • A third party could be prevented from acquiring control of the Company because of anti-takeover provisions under Indian law.
  • The requirements of being a listed company may strain its resources and distract management.
  • Its may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy its capital needs, which its may not be able to procure and any future equity offerings by it.
  • Increase geographical presence.
  • Attracting and retaining the highest quality professionals.
  • Improve operational efficiencies and timelines.
  • Brand image.
  • Continue to strengthen relationships with key service providers and take benefit of scalability by outsourcing model.

V R Infraspace Ltd IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 72.97%

V R Infraspace Ltd IPO Subscription Status (Bidding Detail)

The V R Infraspace Ltd IPO is subscribed - times on Mar 06, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - -

V R Infraspace Ltd IPO Prospectus

V R Infraspace Ltd IPO Listing Date

Listing Date 12 Mar 24
BSE Script 92357
NSE Symbol VR
Listing In NSE - SME
ISIN INE0QQM01017
IPO Price ₹85
Face Value ₹10

V R Infraspace Ltd IPO Registrar

Link Intime India Pvt Ltd

Phone: +91-8108114949
Email: vrinfraspace.ipo@linkintime.co.in
Website: www.linkintime.co.in

V R Infraspace Ltd IPO Lead Manager(s)

  1. Beeline Capital Advisors Pvt Ltd

FAQs on V R Infraspace Ltd IPO

V R Infraspace Ltd IPO, which opens for subscription from 04-Mar-2024 to 06-Mar-2024 has an issue size of ₹20.4 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for V R Infraspace Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

V R Infraspace Ltd IPO Opens for subscription from 04-Mar-2024 to 06-Mar-2024.

The lot size of V R Infraspace Ltd is 1600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹136000 and ₹136000 respectively.

Allotment date for V R Infraspace Ltd is 07-Mar-2024 and refund of application amount (in case allotment is not received) will begin from 11-Mar-2024. If your allotment goes through, then shares will be credited in your Demat account by 11-Mar-2024.

The registrar for V R Infraspace Ltd IPO is Link Intime India Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of V R Infraspace Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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