Vdeal System IPO Day 1: NSE SME issue booked over 4 times on the first day; check key details

Vdeal System Limited IPO saw strong demand from investors on the first day of bidding, Tuesday, August 27, as the NSE SME issue was booked 4.34 times.

The electrical and automation solution provider's initial public offering received bids for more than 66.55 lakh shares compared to 15.32 lakh shares on offer.

Retail individual investors applied for over 57.33 lakh shares against 7.66 lakh shares set aside for the category, booking the portion 7.48 times. The issue was subscribed 1.2 times in the Non-Institutional Investors’ (NIIs) category with applications for 9.21 lakh shares against 7.66 lakh shares set aside for the segment.

Vdeal System Limited IPO offer size, price band, and minimum investment

Vdeal System IPO is a book-building issue worth ₹18.08 crore. The issue is entirely a fresh issue of 16.14 lakh shares. Vdeal System IPO price band has been fixed at ₹112 per share.

The minimum lot size for an application is 1,200 shares, resulting in an investment of ₹1,34,400 from retail investors. For NIIs, the minimum investment is 2 lots or 2,400 shares, totalling ₹2,68,800.

Vdeal System IPO dates

The Vdeal System IPO window is open for subscription from August 27 to August 29. The IPO allotment status is likely to be finalised on August 30.

Refunds will be initiated for non-allottees on September 2, and shares will be credited to the demat accounts of successful bidders on the same day. Shares of Vdeal System Limited will be listed on the NSE SME platform Emerge on September 2.

Vdeal System IPO registrar

Cameo Corporate Services Limited is the registrar of the Vdeal System IPO, and Affinity Global Capital Market Private Limited is the book-running lead manager for the issue. The market maker for the Vdeal System IPO is Black Fox Financial.

Vdeal System IPO objective

Vdeal System Ltd intends to use net proceeds from the IPO to meet various financial needs. These include meeting working capital requirements, prepaying and repaying a portion of loans, covering basic company expenses, and meeting the offering expense.

About Vdeal System Limited

Founded in December 2009, Vdeal System Limited is an integrated provider of electrical and automation solutions. The company specialises in smart low and medium-voltage panels, variable frequency drive panels, medium-voltage soft starters, energy management systems, and programmable logic controller panels. They also supply air-insulated and sandwich bus ducts.

Vdeal System offers comprehensive services, including product design, manufacturing, system integration and maintenance of automation solutions.