Veer Global Infraconstruction Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹28

Listed On

19 Oct 2020

Listing Price

₹31 (+10.71%)

Current Price LIVE

₹31 (+10.71%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	8,000	₹2,24,000
HNI Min	3	12,000	₹3,36,000

Company has shown zig-zag results and issue is priced at P/E of around 111 as per FY20 earnings, which is aggressively priced in current scenario. Performance of BRLM very poor. So we give AVOID rating to this SME IPO.

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	8,32,000	8,32,000	16,64,000
Day 1 30-09-20	1,20,000 (0.14)	16,000 (0.02)	1,36,000 (0.08)
Day 2 01-10-20	1,60,000 (0.19)	64,000 (0.08)	2,24,000 (0.13)
Day 3 05-10-20	3,56,000 (0.43)	2,16,000 (0.26)	5,72,000 (0.34)
Day 4 06-10-20	8,44,000 (1.01)	3,36,000 (0.4)	11,80,000 (0.71)
Day 5 07-10-20	11,56,000 (1.39)	4,36,000 (0.52)	15,92,000 (0.96)
Day 6 08-10-20	14,16,000 (1.70)	5,80,000 (0.7)	19,96,000 (1.2)
Day 7 09-10-20	16,12,000 (1.94)	10,36,000 (1.25)	26,48,000 (1.59)

Started in 2012, Veer Global Infraconstruction Limited is a real-estate developer company that primarily engaged in developing residential projects in the affordable housing segment. It undertakes development of residential projects, business and retail properties, Commercial Plaza, and Integrated Townships. Its core business activities include location identification, acquisition, project planning, designing and development and sales & marketing. VGIL positioned as "Creation and not Construction" has landmark development across Mumbai, Vasai, Virar, Umroli, Boisar & Shahada. Till Sep 2020, it has completed 5 residential projects and Veer-11, Parasnath Township Bldg No. 2, Veer Splendor - Phase II, Veer-10, Veer-4, and D-wing Veer-2 are currently ongoing projects. Company focuses on residential projects, which include residential building in townships, redevelopments, etc. mainly in affordable segments. Currently, VGIL has seven ongoing projects. On the financial performance front, for the last three fiscals, VGIL has reported turnover/net profits (loss) of Rs. 2.33 cr. / Rs. 0.04 cr. (FY18), Rs. 10.08 cr. / Rs. 0.12 cr. (FY19) and Rs. 8.63 cr. / Rs. 0.16 cr. (FY20). So company has shown zig-zag results. For the last three fiscals, company has posted average EPS of Rs. 0.52 and an average RoNW of 1.62%. The issue is priced at a P/BV of 1.22 based on its NAVs of Rs. 23 post issue. As per FY20 earnings issue is priced at P/E of 111. So as per FY20 earnings issue looks very aggressively priced. Comparison between listed peers are shown in above table. On BRLM's front for CAPITALSQUARE ADVISORS PRIVATE LIMITED, this is the 3rd IPO in last three fiscals. Out of last 2 listing, 1 opened below issue price and the rest with premiums of 0.04% on the day of listings. As of now from last 2 IPOs, both are trading below issue price. ( As on 30.09.2020 ) Company has shown zig-zag results and issue is priced at P/E of around 111 as per FY20 earnings, which is aggressively priced in current scenario. Performance of BRLM very poor. So we give AVOID rating to this SME IPO.

Fresh Issue

1
To Meet the Short term Working Capital Expenses ( Rs 4.00 Cr )General corporate expenses ( Rs 0.66 Cr )To Meet the Issue Expenses ( Rs 0.26 Cr )
2
To Meet the Short term Working Capital Expenses ( Rs 4.00 Cr )
3
General corporate expenses ( Rs 0.66 Cr )
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To Meet the Issue Expenses ( Rs 0.26 Cr )
5
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
6
Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
7
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
8
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
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However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
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Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

3 Comments

I
IPO Guru 08 Oct 2020, 15:41

Not good time for infrastructure sector, so it's better to leave this IPO.
N
nikunj 07 Oct 2020, 18:52

yes
R
Ritesh Jain 07 Oct 2020, 16:03

Apply

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY20	8.63	8.38	0.16
FY19	10.08	9.90	0.12
FY18	2.33	2.25	0.04

Open Date	Sep 30, 2020
Close Date	Oct 09, 2020
Allotment Date	Oct 15, 2020
Listing Date	Oct 19, 2020
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 28 Per Equity Share
Issue Size	Fresh Issue of Up to 17,56,000 with aggregating up to Rs 4.92/- Cr
Retail Min Lot	1 Lot (4,000 Shares - ₹ 1,12,000)
Lead Manager	Capitalsquare Advisors Private Limited

Veer Global Infraconstruction Limited

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