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Veto Switchgears and Cables Ltd IPO (Veto Switchgears IPO) Detail

Dec 3, 2012 - Dec 5, 2012

Incoporated in 2007, Veto Switchgears and Cables Ltd is an ISO 9001:2008 certified company, engaged in the manufacture and sale of wires & cables and electrical accessories in India. Veto Switchgears product portfolio ranges from industrial cables, stand cables to telephone & co-axial wires, from general switches to modular switches, from ceiling fans to rechargeable fans, compact fluorescent lamps and other electrical accessories.

Veto Switchgears manufacturing unit located in Hardwar, Uttarakhand. Veto Switchgears supply their products under the brands "VETO" and "VIMAL POWER".

Company Promoters:

Company's Corporate Promoter are:

1. Veto Electropowers (India) Private Limited

Company's Individual Promoters are:

1. Mr. Vishnu Kumar Gurnani;
2. Mr. Mohan Das Gurnani; and
3. Mr. Narayan Das Gurnani

Objects of the Issue:

The object of the issue are to:

1. Modernisation of existing facility at Hardwar, Uttarakhand;
2. To finance incremental long-term working capital requirement;
3. Enhancement of the Company’s brand through advertising and other brand-building activities;
4. General corporate purposes; and
5. To meet the Issue expenses.

Veto Switchgears IPO Details

IPO Opening Date Dec 3, 2012
IPO Closing Date Dec 5, 2012
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹48 to ₹50 per equity share
Market Lot 3000 Shares
Min Order Quantity 3000 Shares
Listing At NSE SME
Issue Size5,000,000 Eq Shares of ₹10
(aggregating up to ₹25.00 Cr)

Veto Switchgears IPO Lot Size

The Veto Switchgears IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹150,000).

Application Lots Shares Amount (Cut-off)
Minimum 1 3000 ₹150,000
Maximum 1 3000 ₹150,000

Veto Switchgears and Cables Ltd IPO Grading

CRISIL has assigned a CRISIL SME fundamental grade of 'SME 4/5' (SME Four on Five) to the proposed IPO of the Company. The grade indicates that the fundamentals of the Company are superior compared to other SMEs in India. Read Veto Switchgears IPO Report

Veto Switchgears IPO Review

This looks appealing against listed entities( in similar field but are not peers in clear terms) that are quoting at a P/E of 20 plus But considering the fate of Call Auction on NSE SME, this issue may fail to live up to confidence. So better buy at discount post listing instead of applying for it in IPO.

Correction on 27th Nov 2012 By Dilip Davda

Today Veto Switchgear, the company from Rajasthan and having main base at Jaipur with 70% volume in and around Rajasthan did IPO Road Show in Mumbai and I got the opportunity to meet promoters and merchant bankers.

They clarified that they will be listing Veto on NSE SME - EMERGE under Normal Market mode and hence there is no question of re-run of history that happened for Thejo due to listing under Call Auction mode and thus Veto might have some listing gain for investors.

Due to this I am changing my review on this IPO from Avoid to HNI's can take a risk for modest investment for listing gains, if any.

Read detail review...

Veto Switchgears IPO Subscription Status (Bidding Detail)

The Veto Switchgears IPO is subscribed 1.56 times on 12/5/2012 5:00:00 PM. The public issue subscribed 2.06 times in the retail category, 1.05 times in the QIB category, and 1.47 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB1.05
NII1.47
Retail2.06
Total1.56

Veto Switchgears IPO Prospectus

Veto Switchgears IPO Rating

56
3.0
Rating:Rated 3.0 stars
Vote Here ...

Veto Switchgears IPO Listing Date

Listing Date Monday, February 13, 2012
BSE Script Code 539331
NSE Symbol
Listing In
ISIN INE918N01018
IPO Price ₹50 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
IPO Price: ₹50.00
Open: ₹145.00
Low: ₹144.00
High: ₹148.10
Last Trade: ₹145.45

Company Contact Information

Veto Switchgears and Cables Ltd
D-2, First Floor, Malad Industrial Estate,
Ramchandra Lane Extn. Kanchpada,
Malad (West), Mumbai 400064
Phone: +91 22 2880 7704
Email: cfo@vetoswitchgears.com
Website: http://www.vetoswitchgears.com

Veto Switchgears IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Veto Switchgears IPO FAQs

Veto Switchgears IPO is a SME IPO of 5,000,000 equity shares of the face value of ₹10 aggregating up to ₹25.00 Crores. The issue is priced at ₹48 to ₹50 per equity share. The minimum order quantity is 3000 Shares.

The IPO opens on Dec 3, 2012, and closes on Dec 5, 2012.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

The Veto Switchgears IPO opens on Dec 3, 2012 and closes on Dec 5, 2012.

Veto Switchgears IPO lot size is 3000 Shares and the minimum order quantity is 3000 Shares.

You can apply in Veto Switchgears 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Veto Switchgears IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Veto Switchgears IPO allotment status.

The Veto Switchgears IPO listing date is on Monday, February 13, 2012.

Veto Switchgears IPO Message Board

Ranked Members  Ranked Members

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18 Comments

16. SONMAYA |Dec 13, 2012 10:45:49 AM
Top Contributor Top Contributor (400+ Posts)
veto switchgears listed on nse today.at 58/against issue price 50/- currently trading at 50.35.
15. IPO SHOKHIN |Dec 12, 2012 12:50:30 PM
WHERE CAN WE SEE ALLOTMENT ?
14. majeedkkp |Dec 10, 2012 3:12:13 PM
VETO ALLOTMENT ON 12/12/12
13. Ahmedabad Daily |Dec 7, 2012 12:05:40 PM
latest Rate >>>>>

Veto >>> DISCOUNT (-1.5 - 2)
CARE >>>> +190
PcJ >>> + 20
Bharti >> no Movement thing trading

WITHDRAW FROM VETO
12. Venky IPO |Dec 4, 2012 11:55:01 AM
Cheaters all cheaters...What is the basis for this overpricing. Stocks of Excellent frontline branded companies with consistent growth record like Finolex Cables are already available in the market at better/par prices. How do these cheats expect me to buy a new stock for the same price? Retail investors - Please stay away
11. Jinnie |Dec 3, 2012 4:31:06 PM
haha lead manager ne paisa dekar ipo bharva dia. vaswani number 2 in making.
10. Dilip Davda |Nov 28, 2012 1:31:05 PM
Soon after this issue, we have CARE IPO opening on 07.12.12 followed by PC Jeweller by 10.12.12 and also tax free bonds from REC round the corner.

Dilip Davda
SEBI registered Research Analyst
Mumbai

Read my IPO Reviews

9. Dilip Davda |Nov 27, 2012 5:38:20 PM
Since this company is listing on NSE SME under Normal Market mode post allotment, it might not face the music faced by Thejo due to listing under Call Auction mode that did not favor performance of that stock post listing.

So, HNI''s can take a risk of parking moderate funds for listing gains, if any.

Dilip Davda
SEBI registered Research Analyst
Mumbai

Read my IPO Reviews

8. Ahmedabad Daily |Nov 26, 2012 12:17:32 PM
Chor machaay shor ..................................
7. Jinnie |Nov 26, 2012 9:58:38 AM
now my point is when ipos of pc jeweller and care and bharti r cming then y the hell v invest in this funny call auction exchange
7.1. Dilip Davda |Nov 28, 2012 8:00:01 PM
Having learnt the blunder of Call Auction mode, this company has opted for other option i.e. Normal Market and hence there will be chances of listing gains. This point is clarified by BRLM and Promoters

Dilip Davda
SEBI registered Research Analyst
Mumbai

Read my IPO Reviews

6. Jinnie |Nov 26, 2012 9:57:39 AM
this i copy and pasting from smartinvestment. read it. here clearly said that it is trade under call auction.

Veto Switchgears opens on 3rd Dec. & Closes on 5th Dec. 2012.
Price Band fixed at Rs.48 to 50
Veto Switchgears and Cables, a company engaged in the manufacture and sale of wires & cables and electrical accessories, has filed draft red herring prospectus with the National Stock Exchange for initial public offer of Rs 25 crore issues opens 3rd Dec. and Closes at 5th Dec. 2012. Price band has been fixed at Rs.48 to 50. The company supplies products under the brands VETO and VIMAL POWER Veto intends to issue proceeds for modernization of existing facility at Hardwar, Uttarakhand (with an outlay of Rs 4.7 crore) financing incremental long-term working capital requirement (with a cost of Rs 15.80 crore) enhancement of brand through advertising and other brand- building activities (with Rs 2 crore) and general corporate purposes. Net profit of the company increased 47 percent year-on-year to Rs 7.22 crore and total revenues rose 29 percent to Rs 68.7 crore in the year ended March 31, 2012. The equity shares are proposed to be listed on the SME Platform of the NSE - EMERGE - and traded in the SME Call auction.market.
5. Jinnie |Nov 25, 2012 7:46:58 PM
seenuipo
u can see veto drhp and article on moneycontrol in whih it is mention tht it will list in call auction.
this is come just to take our money just avoid it.
4. seenuipo |Nov 25, 2012 11:41:38 AM
Top Contributor Top Contributor (200+ Posts)
Hello jinnie and gundu anna,are you having the information that, this IPO also in call auction segment like thejo engg. Please don''t imagine the things.For example,everybody against the max alerts systems.The result is it was listed at 200% gains.
4.1. santonu |Nov 25, 2012 1:33:35 PM
Top Contributor Top Contributor (200+ Posts)
Max alert was listed on BSE SME, and which is not following the the long process of call auction , problem lies only with the NSE SME and this issue will be 2nd issue to be listed on NSE SME and like to follow the same process as for thejo
3. seenuipo |Nov 25, 2012 11:34:49 AM
Top Contributor Top Contributor (200+ Posts)
Dilip Davda sir,
kindlt inform the forum whether this IPO veto switch gears and cables ltd also will be in call action segment instead of normal market.
We burnt our fingers by applying in Thejo engg ltd. I am having Thejo engg stocks in my demat but so far I am not able to sell it in call action category.If same thing happens to this IPO also and which blocks the huge amount,it is difficult to me for applying in further good issues.In view of the above kindly inform for the sake of small investors before closing date.
2. Jinnie |Nov 24, 2012 12:22:04 PM
y the hell this issue cm on call auction exchange. after the flop of thejo. just avoid this and money.
1. gundu anna |Nov 23, 2012 10:11:45 PM
IPO Mentor IPO Mentor (500+ Posts, 100+ Likes)
Good issue to Loose your money