July 15, 2024

Viaz Tyres Limited announces its IPO on the 16th Feb 2023, largest IPO in the tyre sector, on NSE Emerge

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Ahmedabad (Gujarat) [India], February 16: Viaz Tyres Limited, engaged in the manufacturing of butyl rubber tubes for bicycles, two and three-wheelers, passenger vehicles, and heavy-load industrial vehicles and trading in  automobile tyres, brings its IPO of 32,26,000 Equity Shares of ₹10/- each at ₹62 per Equity Shares, including share premium of ₹52 per equity share aggregating to ₹2,000.12 lakhs. The lot size will be 2,000. Out of 32,26,000 Equity Shares, 15,32,000 shares are reserved for the retail quota, 15,32,000 shares are reserved for the non-retail (NII) quota and 1,62,000 shares have been reserved under the market maker quota. The issue opens on the 16th February 2023 and closes on the 21st February 2023. It will subsequently be listed on the NSE Emerge platform. The lead manager to the issue is Beeline Capital Advisors Pvt. Ltd.

The key objectives of the issue are

– Repayment or Prepayment or part repayment of loan

– To Meet Working Capital Requirements

– General Corporate Purpose

– Public issue expenses

Viaz Tyres Limited has recorded an impressive growth over the fiscal years. Its total revenue for FY22 was ₹2933.04 lakhs, which was ₹2917.26 lakhs for FY21, while its revenue for Q2 FY23 stood at ₹2379.10 lakhs. Its EBITDA for FY22 was ₹454.61 lakhs, which was ₹389.02 lakhs in FY21, while its EBITDA for Q2 FY23 was ₹316.42 lakhs. The company registered a PAT of ₹146.91 lakhs in FY22, which was ₹60.64 lakhs in FY21, while the company’s PAT for Q2 FY23 was ₹152.72 lakhs.

Viaz Tyres Limited is an Ahmedabad-based company engaged in the manufacturing of rubber tubes for bicycles, two and three-wheelers, passenger vehicles, and heavy-load industrial vehicles, Off The Road (OTR) tubes and Animal Driven Vehicle (ADV) Tubes, Engine Oil, and Grease. The company sells tyre inner tubes, bicycle tyres, and ancillary products under the brand name “VIAZ” & “CVAZ” in domestic as well as international markets. The promoters of the company have a rich business legacy of over 12 years.

The company has its production facility with installed capacity of manufacturing 7,00,000 units per Month at Nandasan near Ahmedabad, Gujarat. India. It has more than 2000 plusdealers and sub-dealers globally. The company also has presence in over  5 countries, namely the United States of America, Turkey, Romania, United Arab Emirates and Colombia. It has recently started trading tyres through an exclusive distributorship of Maxxis Rubbers Private Limited for Turkey.

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The post Viaz Tyres Limited announces its IPO on the 16th Feb 2023, largest IPO in the tyre sector, on NSE Emerge appeared first on Republic News Today.

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