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Varroc Engineering Limited IPO (Varroc Engineering IPO) Detail

June 26, 2018 - June 28, 2018

Varroc Engineering IPO is a book built issue of Rs 1,945.77 crores.

Varroc Engineering IPO bidding started from June 26, 2018 and ended on June 28, 2018. The allotment for Varroc Engineering IPO was finalized on Tuesday, July 3, 2018. The shares got listed on BSE, NSE on July 6, 2018.

Varroc Engineering IPO price band is set at ₹965 to ₹967 per share. The minimum lot size for an application is 15 Shares. The minimum amount of investment required by retail investors is ₹14,505.

Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, Iifl Securities Ltd and Kotak Mahindra Capital Company Limited are the book running lead managers of the Varroc Engineering IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Varroc Engineering IPO RHP for detailed information.

Varroc Engineering IPO Details

IPO Date June 26, 2018 to June 28, 2018
Listing Date July 6, 2018
Face Value ₹1 per share
Price Band ₹965 to ₹967 per share
Lot Size 15 Shares
Total Issue Size20,121,730 shares
(aggregating up to ₹1,945.77 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Varroc Engineering IPO Reservation

Varroc Engineering IPO offers 14,185,212 shares. 4,024,346 (28.37%) to QIB, 3,018,260 (21.28%) to NII, 7,042,606 (49.65%) to RII, 100,000 (0.70%) to employees. 469,507 RIIs will receive minimum 15 shares and (sNII) and (bNII) will receive minimum 210 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered4,024,346 (28.37%)NA
NII (HNI) Shares Offered3,018,260 (21.28%)
Retail Shares Offered7,042,606 (49.65%)469,507
Employee Shares Offered100,000 (0.70%)NA
Total Shares Offered14,185,212 (100%)

Varroc Engineering IPO Timeline (Tentative Schedule)

Varroc Engineering IPO opens on June 26, 2018, and closes on June 28, 2018.

IPO Open Date Tuesday, June 26, 2018
IPO Close Date Thursday, June 28, 2018
Basis of Allotment Tuesday, July 3, 2018
Initiation of Refunds Wednesday, July 4, 2018
Credit of Shares to Demat Thursday, July 5, 2018
Listing Date Friday, July 6, 2018
Cut-off time for UPI mandate confirmation 5 PM on June 28, 2018

Varroc Engineering IPO Lot Size

Investors can bid for a minimum of 15 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 15 ₹14,505
Retail (Max) 13 195 ₹188,565
Lot Size Calculator

About Varroc Engineering Limited

Incorporated in 1988, Aurangabad based Varroc Engineering Limited is a global tier-1 (tier-1 companies are companies that directly supply to original equipment manufacturers ("OEMs")) automotive component group. It designs, manufactures and supplies exterior lighting systems, plastic and polymer components, electricals-electronics components, and precision metallic components to the passenger car, commercial vehicle, two-wheeler, three-wheeler and off-highway vehicle ("OHV") OEMs directly worldwide. The company is the second largest Indian auto component group (by consolidated revenue for FY2017) (Source: CRISIL Research) and a leading tier-1 manufacturer and supplier to Indian two-wheeler and three-wheeler OEMs (by consolidated revenue for FY2017) (Source: CRISIL Research). It is also the sixth-largest global exterior automotive lighting manufacturer and one of the top three independent exterior lighting players (by market share in 2016) (Source: Yole).

Varroc has end-to-end capabilities across design, R&D, engineering, testing, manufacturing and supply of various products across the business. It has two primary business lines, namely (i) the design, manufacture and supply of exterior lighting systems to passenger cars OEMs worldwide ("Global Lighting Business"), which it undertakes through its subsidiaries forming part of the VLS group and (ii) the design, manufacture, and supply of a wide range of auto components in India ("India Business"), primarily to two-wheeler and three-wheeler OEMs, including exports. The India Business offers a diversified set of products across three product lines, namely 65 polymers/plastics, electrical/electronics, and metallic components. In addition, it has other smaller businesses, which include the design, manufacture, and supply of two-wheeler lighting to global OEMs, and undercarriage forged machine components for OHVs and drill bits for the oil and gas sector ("Other Businesses").

Varroc's acquisitions most notably included its 2012 acquisition of Visteon's global lighting business, now known as Varroc Lighting Systems. Prior to the acquisition of Visteon's global lighting business, in 2007 it acquired I.M.E.S (a manufacturer of hot steel forged parts for the construction and oil and gas industries) in Italy and in 2011 it acquired Triom (a manufacturer of high-end lighting systems for global motorcycle OEMs) with operations in Italy, Romania, and Vietnam. In 2013, the company expanded its global lighting business by acquiring Visteon's holding in a 50/50 joint venture with Beste Motor Co. Ltd. ("TYC") to manufacture automotive lighting in China, namely Varroc TYC (which wholly owns Varroc TYC Auto Lamps, which in turn wholly owns Varroc TYC Auto Lamps (CQ) ("China JV"). On February 13, 2018, it entered into a joint venture with Dell'Orto S.p.A., one of its customers, in India, for the development of electronic fuel injection control systems for two-wheelers and three-wheelers. The company has also expanded its manufacturing and R&D footprint by investing in nine manufacturing plants and an additional R&D center in India since 2012. It continues to expand its manufacturing and R&D footprint, and intend to set up one manufacturing facility in Brazil and one manufacturing facility in Morocco, as well as two manufacturing facilities in India.

Varroc Engineering has a global footprint of 36 manufacturing facilities spread across seven countries, with six facilities for Global Lighting Business, 25 for India Business and five for Other Businesses. As of December 31, 2017, the company's Global Lighting Business has approximately 900 engineers located in nine R&D centers, which are located in the Czech Republic, India, China (through its China JV), Mexico, Germany and the United States of America. It has a new R&D facility which started operations in 2018 in Poland. The Global Lighting Business had 184 patents as of December 31, 2017.

1. The company's Global Lighting Business, which focuses on the design, manufacture, and supply of exterior lighting for passenger vehicles, is the sixth-largest tier-1 automotive exterior lighting manufacturer globally and one of the top three independent exterior lighting players (by market share in 2016) (Source: Yole).

2. Strong, long-standing relationships with many of its customers. In the Global Lighting Business, it has a relationship with a large British car manufacturer since 2006. In the Indian Business, it has a longest-standing relationship is with Bajaj since 1990.

3. It has a comprehensive portfolio of products in the markets which allow it to be a one-stop-shop for the customers and to cross-sell products.

4. A global footprint of 36 manufacturing facilities spread across seven countries, with six facilities for the Global Lighting Business, 25 for India Business and five for other Businesses.

Company Financials

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Million)
31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15
Total Assets 68,523.92 58,603.80 52,458.55 44,284.68
Total Revenue 104,170.67 97,022.69 82,395.20 70,384.64
Profit After Tax 4,507.77 3,033.89 3,698.23 168.09

Objects of the Issue (Varroc Engineering IPO Objectives)

The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and to carry out the Offer for Sale by Selling Shareholders. Further, our Company expects that listing of the Equity Shares will enhance our visibility and brand image and provide liquidity to our Shareholders. The listing will also provide a public market for the Equity Shares in India. Our Company will not receive any proceeds from the Offer and all the proceeds will be received by the Selling Shareholders, in proportion to the Equity Shares offered by the respective Selling Shareholders as part of the Offer. The Selling Shareholders have approved the transfer of their respective portion of the Equity Shares pursuant to the Offer for Sale as set out below:

1. Tarang Jain- 1,752,560
2. Omega TC Holdings Pte. Ltd.- 15,373,608
3. Tata Capital Financial Services Limited- 1,410,432

Varroc Engineering IPO Review (May apply)

[Dilip Davda]  

Although issue appears fully priced, Investors may consider investment for long term in this global player having prime customers and wide range of product portfolio. (Subscribe for long term).

Read detail review...

Varroc Engineering IPO Subscription Status (Bidding Detail)

The Varroc Engineering IPO is subscribed 3.54 times on June 28, 2018 5:00:00 PM. The public issue subscribed 0.84 times in the retail category, 9.15 times in the QIB category, and 2.45 times in the NII category. Check Day by Day Subscription Details (Live Status)

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Varroc Engineering IPO Prospectus

Varroc Engineering IPO Rating

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Varroc Engineering IPO Listing Details

Listing Date July 6, 2018
BSE Script Code 541578
ISIN INE665L01035
Final Issue Price ₹967 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

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Varroc Engineering Limited Contact Details

Varroc Engineering Limited
L-4, MIDC Area
Aurangabad 431 136
Phone: +91 240 6653 700/6653 699

Varroc Engineering IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Varroc Engineering IPO FAQs

Varroc Engineering IPO is a main-board IPO of 20,121,730 equity shares of the face value of ₹1 aggregating up to ₹1,945.77 Crores. The issue is priced at ₹965 to ₹967 per share. The minimum order quantity is 15 Shares.

The IPO opens on June 26, 2018, and closes on June 28, 2018.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Varroc Engineering IPO opens on June 26, 2018 and closes on June 28, 2018.

Varroc Engineering IPO lot size is 15 Shares, and the minimum amount required is ₹14,505.

You can apply in Varroc Engineering IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Varroc Engineering IPO will be done on Tuesday, July 3, 2018, and the allotted shares will be credited to your demat account by Thursday, July 5, 2018. Check the Varroc Engineering IPO allotment status.

The Varroc Engineering IPO listing date is on July 6, 2018.
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Varroc Engineering IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



434. ipobull |   Link |  Bookmark |August 23, 2018 10:59:18 AM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Varroc has finally maintained to keep its head above 1000. So better times to come. Follow my advise on the stock.
433. ipobull |   Link |  Bookmark |August 18, 2018 12:49:46 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Varroc to declare results on Sep 5. Have patience until then because in lead up to that point, there should be some rally on the upwards as result of good expectations. It has formed a very strong base at 960 & is attempting to cross the 4 figure mark, but failing. Hope the results should help it cross the hurdle. Thereafter, after seeing the results, you may take a fresh call.
432. ipobull |   Link |  Bookmark |August 7, 2018 9:32:03 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Endurance has run. Now it will be Varroc's turn. Consolidating near 990 for quite some time. Sellers have dried out. Just waiting for its results.
431. ipobull |   Link |  Bookmark |July 31, 2018 3:17:49 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Varroc crossed 1000. Very good signs for at least 30% upside from these levels in 6 months.
430. VIE |   Link |  Bookmark |July 28, 2018 9:23:17 PM (500+ Posts, 500+ Likes)
@ justininvestor
If its price come down by 15% as u said it will be an buying opportunity..
430.1. VIE |   Link |  Bookmark |July 28, 2018 9:23:49 PM (500+ Posts, 500+ Likes)
Good long term bet
429. ipobull |   Link |  Bookmark |July 26, 2018 3:10:41 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Made a strong base around 940 levels and moved above IPO price. So, we can say with some degree of certainty that there is more upside than downside.
428. ipobull |   Link |  Bookmark |July 12, 2018 3:34:22 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Read my message no. 406. Consolidation between 1000-1050 is over. The stock ready to fly now. A quick move to 1150 levels initially. Just need to have patience for handsome returns in Varroc.
428.2. Justaninvestor |   Link |  Bookmark |July 21, 2018 9:40:53 PM
One should get it @15%below ipo price
428.3. ipobull |   Link |  Bookmark |July 23, 2018 9:27:24 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
I've gone wrong with my prediction. But I think since it is going down & finding its base on thin volumes, you should not worry. Just wait for its quarterly results for leg up.
427. AnkurGoel |   Link |  Bookmark |July 9, 2018 4:51:59 PM
Lodha Developers and Dinesh Engineers Ltd IPOs have been approved by Sebi.
Planning to hold single allotted lot at least for mid term in current scenario...
426.1. Abhishek Shahi |   Link |  Bookmark |July 21, 2018 9:21:09 PM
seems nice
425. IPO ANALYSTS ???? |   Link |  Bookmark |July 7, 2018 10:59:32 PM
425.1. Abhishek Shahi |   Link |  Bookmark |July 21, 2018 9:20:59 PM
what is the expectation
425.2. friend |   Link |  Bookmark |July 23, 2018 2:39:12 PM
Hello , what is happening with sarveshwar food today it is trading at 35 , do u have any idea? Why is it going down?
424. RAJAKUMAR |   Link |  Bookmark |July 6, 2018 10:59:18 AM (1400+ Posts, 1200+ Likes)
Applied with full force 50% sold at 1032 and remaining sold at 1010 to 1018. Holding 50 shares.
424.2. RAJAKUMAR |   Link |  Bookmark |July 7, 2018 9:51:41 AM (1400+ Posts, 1200+ Likes)
I sold 20 shares at 1055. Now i am holding 30 shares for one year for target of Rs.1700/=
424.3. ipobull |   Link |  Bookmark |July 7, 2018 8:50:43 PM
IPO Guru IPO Guru (1000+ Posts, 1000+ Likes)
Read my message no. 406. You should have patience with such stocks. I applied with full force and got 195 shares. The stock bound to cross 1250 within 6 months.
423. harit |   Link |  Bookmark |July 6, 2018 6:34:10 PM
Expert members please advise me
I have 8 account in "A" BROKING co.with DP in CDSL
Now if I want to change my trading account to "B" company can I ?
If I/we hold stocks in "A" co. Should I have to transfer or it will remain in old DP In CDSL?
423.1. dpcdsl |   Link |  Bookmark |July 7, 2018 8:06:28 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Yes, you can open trading a/c with broker 'B' while keeping Demat a/c with 'A', provided 'B' does not insist on demat a/c with POA to them.

You shall have to trade with 'B' and give DIS for execution to 'A', alternatively you may choose online transaction facility of CDSL called "EASIEST" for which one time authentication for CM ID of 'B' to be done by 'A' on your request.

For your information, if you wish to shift your demat a/c with 'B' from 'A', there is no transaction charge applicable. Shifting is free to an account in the same name and style.
423.2. harit |   Link |  Bookmark |July 7, 2018 8:29:13 PM
Thanks for your help in detail
Kindly suggest some BROKING firm with good experience
422. K |   Link |  Bookmark |July 7, 2018 3:07:26 PM
17*195=3315 shares sold@ 1015 matching
421. Anarchist |   Link |  Bookmark |July 6, 2018 8:40:35 PM (500+ Posts, 1400+ Likes)
Nomura (India Stock mother fund) bought 11,07,195 shares of 'Varroc' in a block deal at NSE ....
421.2. Hemant K |   Link |  Bookmark |July 7, 2018 12:23:28 AM
Sir I've 2 lots. Shall stay invested for long term. What's ur suggestion
421.3. Anarchist |   Link |  Bookmark |July 7, 2018 1:18:46 AM (500+ Posts, 1400+ Likes)
@. Hemant K

If there are no global shake ups, the stock price might soon attain a respectable level.(1200 +)....if I were you, I would sell as soon as it does....

Insaan gujar jaaye to sidhe Kriya Karam kar do......I dont endorse mummification...

420. Gnsarda |   Link |  Bookmark |July 6, 2018 6:45:46 PM
Thanks Aniketiaf sir careing me. I sold Rites, Varroc and sold half shares of Fine.
419. Chem cho |   Link |  Bookmark |July 6, 2018 2:27:19 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)

419.5. Chem cho |   Link |  Bookmark |July 6, 2018 5:34:00 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
@ Medge

I hope others could understand my calls
like Market kid and PVSH
Because of fools IPO gurus have stopped giving advice
they want 100% sucess calls which brokers also cannot give
419.6. Doctor strange |   Link |  Bookmark |July 6, 2018 6:07:41 PM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
Sold at 1040 ..
418. Anarchist |   Link |  Bookmark |July 6, 2018 5:16:19 PM (500+ Posts, 1400+ Likes)
Massive MSP hike,loan waivers and upcoming festive season mean disproportionate rural demand for autos ...Crude oil has started to ebb, metals have slumped and falling INR could only enrich both, top and the bottom line of global suppliers...

Now the allottees must decide how irrationally they need to act ....I have heard of a singer who was approached by A. R. Rahman but they turned him back as he was a newbie ....Someone else took the offer and that number topped all charts in that year...

417. tnk |   Link |  Bookmark |July 6, 2018 4:10:02 PM
Those who took risk and applied for full 2 lacs application would have made handsome profits, even if sold in opening at lower prices.
416. Adityasingh |   Link |  Bookmark |July 6, 2018 3:04:14 PM
Anyone from HDFC securities ?? I got allotted the shares but can't see them on my equity panel. Any reasons why so ?
416.1. medge |   Link |  Bookmark |July 6, 2018 3:51:12 PM
IPO Guru IPO Guru (1300+ Posts, 2000+ Likes)
In hdfc sec you can't see stock details on listing day but you can still place sell order as per your holding...
415. sonal patel |   Link |  Bookmark |July 6, 2018 8:03:25 AM
IPO Guru IPO Guru (1500+ Posts, 5700+ Likes)
guys..........all the best for varroc listing .......
good listing expected........gmp around 48 - 52 ........
listing range for varroc is 1015-1025 ...........
if market condition is good ........LISTING WILL BE SUPRISING*
415.1. sonal patel |   Link |  Bookmark |July 6, 2018 3:18:23 PM
IPO Guru IPO Guru (1500+ Posts, 5700+ Likes)
both target achieve in 1st hours of trade.......again right predictions..........