Vikash Vijayvargiya IPO Review

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Fast growing - building and construction chemical

1

Avoid

Very Poor grade rating of NCD: BB-, High leverage company

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=> Small retail portion: 1028,400 Shares
=> Anchor Investors size: 872,400 Shares

Before IPO: On 24.03.2022 Shares transferred from Synita Moses (One of the promoters and OFS her name 423,600) 1000 shares to Rajasthan Global Securities. Later on, 23.08.2022, Bonus shares was issued 899,000. Possibly RGS runner up on IPO.
=> Rs 17.373 Cr will be used for sitting up 4 studios at Chennai, Mumbai, Cochin and Hyderabad.
=> Looks like Rs 6/ 7 Crores Sales and Receivables adjustments on Q1 FY23

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Valuation and PLI beneficary