Visaman Global Sales IPO price band set at ₹43 per share; SME IPO to open on June 24

Visaman Global Sales IPO: Visaman Global Sales Ltd is set to launch its initial public offering (IPO) on June 24. Visaman Global Sales IPO is an SME IPO and a fixed price issue.

Visaman Global Sales is a supplier of a wide range of pipes, various specifications of structural steels, roofing PUF panel, and wall PUF panel.

The bidding for Visaman Global Sales IPO will open on Monday, June 24, and end on Wednesday, June 26.

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Visaman Global Sales IPO price band has been set at ₹43 per share. The company plans to raise ₹16.05 crore from the public issue which is entirely a fresh issue of 37.32 lakh equity shares.

The IPO allotment is expected to be finalized on June 27, and the listing date is July 1. The equity shares of Visaman Global Sales will be listed on NSE SME.

Visaman Global Sales IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹129,000.

The company plans to utilize the net issue proceeds towards funding capital expenditure requirements, setting up of a manufacturing facility at Rajkot, Gujarat, working capital requirements and general corporate purposes.

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Shreni Shares Limited is the book running lead manager, while Link Intime India Private Ltd is the Visaman Global Sales IPO registrar. 

Mitulkumar Vasa, Sureshchandra Vasa, Avni Vasa, Ilaben Vasa and Kular Brijesh N. are the promoters of the company. The promoter shareholding will drop down to 72.98% after the IPO from 100% at present.

Visaman Global Sales IPO GMP Today

Visaman Global Sales IPO GMP or grey market premium has not started yet. This means that the shares of Visaman Global Sales Ltd are yet to be traded in the grey market.

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