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

December 3, 2012 - December 5, 2012

Veto Switchgears IPO is a book built issue of Rs 25.00 crores.

Veto Switchgears IPO bidding started from December 3, 2012 and ended on December 5, 2012. The shares got listed on NSE SME on February 13, 2012.

Veto Switchgears IPO price band is set at ₹48 to ₹50 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹150,000.

Indian Overseas Bank and Keynote Financial Services Ltd are the book running lead managers of the Veto Switchgears IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to Veto Switchgears IPO RHP for detailed information.

Veto Switchgears IPO Details

IPO Date December 3, 2012 to December 5, 2012
Listing Date February 13, 2012
Face Value ₹10 per share
Price Band ₹48 to ₹50 per share
Lot Size 3000 Shares
Total Issue Size5,000,000 shares
(aggregating up to ₹25.00 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME

Veto Switchgears IPO Reservation

Veto Switchgears IPO offers 5,208,334 shares. 1,091,229 (20.95%) to QIB, 2,589,384 (49.72%) to NII, 1,527,721 (29.33%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered--
QIB Shares Offered1,091,229 (20.95%)
NII (HNI) Shares Offered2,589,384 (49.72%)
Retail Shares Offered1,527,721 (29.33%)
Total Shares Offered5,208,334 (100%)

Veto Switchgears IPO Lot Size

Investors can bid for a minimum of 3000 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 3000 ₹150,000
Retail (Max) 1 3000 ₹150,000
Lot Size Calculator

About Veto Switchgears and Cables Ltd

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".

Objects of the Issue (Veto Switchgears IPO Objectives)

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 Review (Avoid)

[Dilip Davda]  

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 December 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)

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 Prospectus

Veto Switchgears IPO Rating

Rating:Rated 3.0 stars
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Veto Switchgears IPO Listing Details

Listing Date February 13, 2012
BSE Script Code 539331
ISIN INE918N01018
Final Issue Price ₹50 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

Veto Switchgears and Cables Ltd Contact Details

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

Veto Switchgears IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Veto Switchgears IPO - Buy or Not

Veto Switchgears IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 1
Members 0 0 0

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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 share. The minimum order quantity is 3000 Shares.

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

Veto Switchgears IPO lot size is 3000 Shares, and the minimum amount required is ₹150,000.

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, Nuvama, 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 February 13, 2012.
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Veto Switchgears IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



16. SONMAYA |   Link |  Bookmark |December 13, 2012 9:45:49 AM
IPO Mentor IPO Mentor (1300+ Posts, 400+ Likes)
veto switchgears listed on nse 58/against issue price 50/- currently trading at 50.35.
15. IPO SHOKHIN |   Link |  Bookmark |December 12, 2012 11:50:30 AM
14. majeedkkp |   Link |  Bookmark |December 10, 2012 2:12:13 PM
13. Ahmedabad Daily |   Link |  Bookmark |December 7, 2012 11:05:40 AM
latest Rate >>>>>

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

12. Venky IPO |   Link |  Bookmark |December 4, 2012 10:55:01 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 |   Link |  Bookmark |December 3, 2012 3:31:06 PM
haha lead manager ne paisa dekar ipo bharva dia. vaswani number 2 in making.
10. Dilip Davda |   Link |  Bookmark |November 28, 2012 12:31:05 PM
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
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

Read my IPO Reviews

9. Dilip Davda |   Link |  Bookmark |November 27, 2012 4:38:20 PM
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
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

Read my IPO Reviews

8. Ahmedabad Daily |   Link |  Bookmark |November 26, 2012 11:17:32 AM
Chor machaay shor ..................................
7. Jinnie |   Link |  Bookmark |November 26, 2012 8:58:38 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 |   Link |  Bookmark |November 28, 2012 7:00:01 PM
Top Contributor Top Contributor (200+ Posts, 300+ Likes)
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

Read my IPO Reviews

6. Jinnie |   Link |  Bookmark |November 26, 2012 8:57:39 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
5. Jinnie |   Link |  Bookmark |November 25, 2012 6:46:58 PM
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 |   Link |  Bookmark |November 25, 2012 10:41:38 AM (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 |   Link |  Bookmark |November 25, 2012 12:33:35 PM (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 |   Link |  Bookmark |November 25, 2012 10:34:49 AM (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 |   Link |  Bookmark |November 24, 2012 11:22:04 AM
y the hell this issue cm on call auction exchange. after the flop of thejo. just avoid this and money.
1. gundu anna |   Link |  Bookmark |November 23, 2012 9:11:45 PM (500+ Posts, 100+ Likes)
Good issue to Loose your money