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IPO

Vision Infra Equipment Solutions Ltd

Vision Infra Equipment Solutions Ltd IPO

Status: Closed

Overview

IPO date

06 Sept 2024 to 10 Sept 2024

Face value

₹ 0 per share

Price

₹ 155 to ₹163 per share

Issue Size

6,516,000 shares
(aggregating up to ₹ 106.21 Cr)

Allotment Date

11 Sept 2024

Listing at

NSE

Issue type

Book Building - SME

Sector

Trading

Objectives of Vision Infra Equipment Solutions Ltd IPO

Vision Infra Equipment Solutions Ltd IPO Strategy

About Vision Infra Equipment Solutions Ltd

Vision Infra Equipment Solutions Limited was originally formed as a Partnership Firm in the name and style of 'M/s Vision Infra' pursuant to a Deed of Partnership dated October 28, 2015 at Pune. Subsequently, 'M/s Vision Infra' converted from the Partnership Firm to a Public Limited Company in the name of 'Vision Infra Equipment Solutions Limited' pursuant to a Certificate of Incorporation dated January 12, 2024, issued by the Registrar of Companies, Pune, Maharashtra. The Company is a solution provider in the equipment space delivering their services in airports, smart cities, irrigation, building & factories, mining , railways , etc. The services offer several advantages, such as improved efficiency, cost control and a streamlined supply chain. Their business of renting of road construction equipment is executed in two rental modes based on time-based pricing and output based pricing. The time based pricing model allows customers to pay for equipment based on how much they use it or time duration they utilize it for, which is primarily a fixed fee. Rental based on the output of a service provider is often referred to as 'output-based pricing'. In this model, the customer pays for service based on results or outcomes delivered by service provider, rather than a fixed fee or hourly rate. Apart from this, the Company has large no. of fleet of major OEM's like Wirtgen, Case, Luigong, Dynapac, Komatsu, Atlas Copco, Ashok Leyland, Bharat Benz, Eicher Motors, Volvo, Terex Power Screen, Caterpillar, Metro, BOMAG etc which is rented out to infra companies like: Larsen & Toubro, Ashoka Buildcon Ltd, Afcons Infrastructure Ltd, NCC Ltd, GMR Infraprojects Ltd, Shapoorji Pallonji, Dilip Buildcon Ltd, Tata Projects Ltd, ITD Cementation India Limited, HG Infra Engineering Ltd , IRB Infra developers Ltd, GR Infra Projects Ltd, etc. The Company is also involved in the business of trading in second-hand road construction equipment which involves buying, refurbishing and reselling used machinery for road construction activities. It purchase used equipment from Infrastructure companies, contractors, NBFCs , banks and Retail Market and refurbish the equipment such that it is brought back to optimal working condition, meeting safety and quality standards before being resold. The Company operate from the head office at Bhawani International Business Bay, Bhavani Peth, in Pune. The leasing of Construction equipments require a combination of expertise, efficient equipment, and a skilled workforce. The scope includes mobilization and demobilization of equipment from client location. It's a crucial sector for infrastructure development, ensuring the creation and maintenance of quality roads. The Company is planning to raise equity capital from public by issuing 73,68,000 Fresh Issue Equity Shares.

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Strengths vs Risks of Vision Infra Equipment Solutions Ltd

Know the pros & cons

Strengths

The Company owns a large and young fleet of road construction equipment.
Wide presence in domestic market with vast customer base.
Leverage its capabilities to capture strong industry tailwinds and growth prospects for road infrastructure.
In house execution team and established track record.
Order Book for road construction activities across India.
Experienced Promoters and senior management team.
Stable financial performance.

Risks

Its business is capital intensive in nature. If the company is unable to raise additional funds whenever required, or on terms acceptable to it, the company may be required to scale down or abandon its expansion & growth plans and/or reduce capital expenditures and the size of its operations, any of which could materially and adversely affect its business, financial position and results of operations.
The company generates a significant percentage of its revenue from few clients. The loss of any one or more of its major clients would have a material adverse effect on the company's business operations and profitability.
The construction equipment industry is sensitive to changing economic conditions and various other factors. Any decline in demand for these equipment may adversely impact its business prospects and results of operations.
The road construction industry is sensitive to the government infrastructure spending or regulatory changes. Any decline in government infrastructure spending may adversely impact its business prospects and results of operations.
Margins earned from its rental services and refurbishment may be impacted by pricing guidelines set by its customers or by the company's OEMs for supply of spare parts and accessories which may adversely affect its financial condition and results of operations.
The Pro Forma Financial Information included in this Draft Red Herring Prospectus is not indicative of its expected results or operations in the future periods or its future financial position or a substitute for the company past results.
The Company is dependent on limited number of suppliers. Any delay or failures on the part of such suppliers to deliver equipment at acceptable prices, may adversely affect its business, profitability and reputation.
The company is subject to the significant influence of, and restrictions imposed by its OEMs that may adversely impact the company business, results of operations, financial condition and prospects.
The company derives a significant portion of its revenue from trading and refurbishment activities, for which the company has to relies on third parties.
Changes in technology render its current fleet of equipment obsolete and requires the company to make substantial capital investments.
Its may fails to successfully implement its growth strategy, which includes acquiring existing orders for rental business, diversifying the company portfolio and penetrating deeper into existing geographic locations which may adversely affect its financial condition and results of operations.
Its operations are subject to various governmental laws and regulations and certain state specific notifications and guidelines. If the company is found to be in violation of or subject to liabilities under any of these laws or regulations, or if new laws or regulations are enacted that adversely affect its operations, the company's business, operating results, and prospects could suffer.
The agreements governing its indebtedness contain certain restrictive covenants which could adversely affect its financial condition and results of operations.
Its success depends upon the company's ability to attract, develop and retain trained manpower while also maintaining low labour costs.
Its plan relating to establishment of the company new refurbishment unit is subject to the risk of unanticipated delays in implementation and cost overruns.
Its business is subject to seasonality, which may contribute to fluctuations in its results of operations and financial condition.
The company may be unable to detect, deter and prevent instances of theft, breakage or damage of its equipment stationed at the client location, which may have a material adverse effect on its business, results of operations and financial conditions.
Its business operations are majorly concentrated in certain geographical regions and any adverse developments affecting its operations in these regions could have a significant impact on the company revenue and results of operations.
Its business is working capital intensive. If the company is experience insufficient cash flows to meet required payments on its working capital requirements, there may be an adverse effect on the results of its operations.
The company derives a certain portion of its income from profit on sale of fixed assets.
Its Order Book may not be representative of the company's future results and its actual income may be significantly less than the estimates reflected in its Order Book, which could adversely affect itsr results of operations.
Increase in the prices of raw materials, fuel and labour could have an adverse effect on its business, results of operations and financial condition.
There are outstanding legal proceedings involving the Company which may adversely affect its business, financial conditions, and results of operations.
The Company is in process of transferring secured loan from partnership firm to public Company. Any delay/ nontransfer of secured loans could impact the reputation and financial position of the Company to that extent.
The Company has been recently formed by conversion of the erstwhile partnership firm into the company, thus the company has limited operating history as a Company which may make it difficult for investors to evaluate its historical performance or future prospects.
The company is subject to risks arising from interest rate fluctuations, which could reduce the profitability of its projects and adversely affect the company's business, financial condition and results of operations.
Its operations are subject to risks of mishaps or accidents that could cause damage or loss to life and property and could also result in loss or slowdown in its business.
The company is required to furnish bank guarantees as part of its business. Its inability to arrange such guarantees or the invocation of such guarantees may adversely affect its cash flows and financial condition.
Its Registered Office is located on leased premises. If the company is unable to renew these leases or relocate on commercially suitable terms, it may have a material adverse effect on its business, results of operation and financial condition.
The company has certain contingent liabilities that have not been provided for in its restated financial statements, which if realized, could adversely affect its financial condition.
The company has experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect its ability to operate its business and implement the company's growth plans, thereby affecting its financial condition.
Its operations are dependent on a significant number of contract labour and an inability to access adequate labour at reasonable costs at its sites across India may adversely affect the company's business prospects and results of operations.
The company has not received No Objection Certificate from all the lenders of term loans to the company.
The company is dependent upon the experience of its management team and a number of KMP and senior management personnel. If the company is unable to attract or retain such team, this could adversely affect its business, results of operations and financial condition.
The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
Unsecured loans taken by it can be recalled at any time.
Its inability to respond adequately to increased competition in the company's business may adversely affect its business, financial condition and results of operations.
Some of its Group Companies and Promoter Group Entities operates in the same line of business as it, which may lead to conflict of interest.
Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
The Company has in the past entered into related party transactions with its Directors, Promoters and Promoter Group members/ entities and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on its financial condition and results of operations.
Its lenders have charge over the company movable properties in respect of finance availed by it.
Its Promoters and promoter group members are co-applicant in the loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations.
Its insurance coverage may not adequately protect the company against all losses or the insurance cover may not be available for all the losses as per the insurance policy, which could adversely affect business, results of operations and financial condition.
There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
Its Promoters and Promoter Group will continue to retain significant control in the Company after the Issue which will allow them to influence the outcome of matters submitted to shareholders for approval. Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control.
Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
Its employees may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements.
The company is exposed to the risks of malfunctions or disruptions of information technology systems.
Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
Its Promoters and Promoter Group Members have provided guarantees for loans availed by it, and in the event the same is enforced against them, it could adversely affect its Promoters' ability to manage the affairs of the Company.
Its may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy its capital needs, which its may not be able to procure and any future equity offerings by the company.
The Issue price of its Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
Certain data mentioned in this Red Herring Prospectus has not been independently verified.
QIBs and Non-Institutional Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Issue Closing Date.
Any Penalty or demand raised by statutory authorities in future will affect financial position of the Company.

How to check the allotment status of Vision Infra Equipment Solutions Ltd IPO?

Follow the steps

Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).

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The IPO opens on 06 Sept 2024 & closes on 10 Sept 2024.

Vision Infra Equipment Solutions Ltd IPO will close on 10 Sept 2024.

The Company owns a large and young fleet of road construction equipment.
Wide presence in domestic market with vast customer base.
Leverage its capabilities to capture strong industry tailwinds and growth prospects for road infrastructure.
In house execution team and established track record.
Order Book for road construction activities across India.
Experienced Promoters and senior management team.
Stable financial performance.

S.No	Promoters Name	Pre Issue Shares	Pre Issue Percentage	Post Issue Shares	Post Issue Percentage
1	Sachin Vinod Gandhi	5709000	31.5	5709000	23.17
2	Chetan Vinod Gandhi	5709000	31.5	5709000	23.17
3	Sameer Sanjay Gandhi	5709000	31.5	5709000	23.17

Its business is capital intensive in nature. If the company is unable to raise additional funds whenever required, or on terms acceptable to it, the company may be required to scale down or abandon its expansion & growth plans and/or reduce capital expenditures and the size of its operations, any of which could materially and adversely affect its business, financial position and results of operations.
The company generates a significant percentage of its revenue from few clients. The loss of any one or more of its major clients would have a material adverse effect on the company's business operations and profitability.
The construction equipment industry is sensitive to changing economic conditions and various other factors. Any decline in demand for these equipment may adversely impact its business prospects and results of operations.
The road construction industry is sensitive to the government infrastructure spending or regulatory changes. Any decline in government infrastructure spending may adversely impact its business prospects and results of operations.
Margins earned from its rental services and refurbishment may be impacted by pricing guidelines set by its customers or by the company's OEMs for supply of spare parts and accessories which may adversely affect its financial condition and results of operations.
The Pro Forma Financial Information included in this Draft Red Herring Prospectus is not indicative of its expected results or operations in the future periods or its future financial position or a substitute for the company past results.
The Company is dependent on limited number of suppliers. Any delay or failures on the part of such suppliers to deliver equipment at acceptable prices, may adversely affect its business, profitability and reputation.
The company is subject to the significant influence of, and restrictions imposed by its OEMs that may adversely impact the company business, results of operations, financial condition and prospects.
The company derives a significant portion of its revenue from trading and refurbishment activities, for which the company has to relies on third parties.
Changes in technology render its current fleet of equipment obsolete and requires the company to make substantial capital investments.
Its may fails to successfully implement its growth strategy, which includes acquiring existing orders for rental business, diversifying the company portfolio and penetrating deeper into existing geographic locations which may adversely affect its financial condition and results of operations.
Its operations are subject to various governmental laws and regulations and certain state specific notifications and guidelines. If the company is found to be in violation of or subject to liabilities under any of these laws or regulations, or if new laws or regulations are enacted that adversely affect its operations, the company's business, operating results, and prospects could suffer.
The agreements governing its indebtedness contain certain restrictive covenants which could adversely affect its financial condition and results of operations.
Its success depends upon the company's ability to attract, develop and retain trained manpower while also maintaining low labour costs.
Its plan relating to establishment of the company new refurbishment unit is subject to the risk of unanticipated delays in implementation and cost overruns.
Its business is subject to seasonality, which may contribute to fluctuations in its results of operations and financial condition.
The company may be unable to detect, deter and prevent instances of theft, breakage or damage of its equipment stationed at the client location, which may have a material adverse effect on its business, results of operations and financial conditions.
Its business operations are majorly concentrated in certain geographical regions and any adverse developments affecting its operations in these regions could have a significant impact on the company revenue and results of operations.
Its business is working capital intensive. If the company is experience insufficient cash flows to meet required payments on its working capital requirements, there may be an adverse effect on the results of its operations.
The company derives a certain portion of its income from profit on sale of fixed assets.
Its Order Book may not be representative of the company's future results and its actual income may be significantly less than the estimates reflected in its Order Book, which could adversely affect itsr results of operations.
Increase in the prices of raw materials, fuel and labour could have an adverse effect on its business, results of operations and financial condition.
There are outstanding legal proceedings involving the Company which may adversely affect its business, financial conditions, and results of operations.
The Company is in process of transferring secured loan from partnership firm to public Company. Any delay/ nontransfer of secured loans could impact the reputation and financial position of the Company to that extent.
The Company has been recently formed by conversion of the erstwhile partnership firm into the company, thus the company has limited operating history as a Company which may make it difficult for investors to evaluate its historical performance or future prospects.
The company is subject to risks arising from interest rate fluctuations, which could reduce the profitability of its projects and adversely affect the company's business, financial condition and results of operations.
Its operations are subject to risks of mishaps or accidents that could cause damage or loss to life and property and could also result in loss or slowdown in its business.
The company is required to furnish bank guarantees as part of its business. Its inability to arrange such guarantees or the invocation of such guarantees may adversely affect its cash flows and financial condition.
Its Registered Office is located on leased premises. If the company is unable to renew these leases or relocate on commercially suitable terms, it may have a material adverse effect on its business, results of operation and financial condition.
The company has certain contingent liabilities that have not been provided for in its restated financial statements, which if realized, could adversely affect its financial condition.
The company has experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect its ability to operate its business and implement the company's growth plans, thereby affecting its financial condition.
Its operations are dependent on a significant number of contract labour and an inability to access adequate labour at reasonable costs at its sites across India may adversely affect the company's business prospects and results of operations.
The company has not received No Objection Certificate from all the lenders of term loans to the company.
The company is dependent upon the experience of its management team and a number of KMP and senior management personnel. If the company is unable to attract or retain such team, this could adversely affect its business, results of operations and financial condition.
The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
Unsecured loans taken by it can be recalled at any time.
Its inability to respond adequately to increased competition in the company's business may adversely affect its business, financial condition and results of operations.
Some of its Group Companies and Promoter Group Entities operates in the same line of business as it, which may lead to conflict of interest.
Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate.
The Company has in the past entered into related party transactions with its Directors, Promoters and Promoter Group members/ entities and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on its financial condition and results of operations.
Its lenders have charge over the company movable properties in respect of finance availed by it.
Its Promoters and promoter group members are co-applicant in the loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations.
Its insurance coverage may not adequately protect the company against all losses or the insurance cover may not be available for all the losses as per the insurance policy, which could adversely affect business, results of operations and financial condition.
There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
Its Promoters and Promoter Group will continue to retain significant control in the Company after the Issue which will allow them to influence the outcome of matters submitted to shareholders for approval. Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control.
Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
Its employees may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements.
The company is exposed to the risks of malfunctions or disruptions of information technology systems.
Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.
Its Promoters and Promoter Group Members have provided guarantees for loans availed by it, and in the event the same is enforced against them, it could adversely affect its Promoters' ability to manage the affairs of the Company.
Its may requires further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares or additional funds through incurring debt to satisfy its capital needs, which its may not be able to procure and any future equity offerings by the company.
The Issue price of its Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the company Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
Certain data mentioned in this Red Herring Prospectus has not been independently verified.
QIBs and Non-Institutional Bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid and Retail Individual Investors are not permitted to withdraw their Bids after Bid/Issue Closing Date.
Any Penalty or demand raised by statutory authorities in future will affect financial position of the Company.

The Issue type of Vision Infra Equipment Solutions Ltd is Book Building - SME.

The minimum application for shares of Vision Infra Equipment Solutions Ltd is 800.

The total shares issue of Vision Infra Equipment Solutions Ltd is 6516000.

Initial public offer of upto 65,16,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Vision Infra Equipment Solutions Limited ("The Company" or "VIESL" or "The Issuer") at an issue price of Rs. 163/- per equity share for cash, aggregating up to Rs. 106.21 crores ("Public Issue") out of which 3,36,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 163/- per equity share for cash, aggregating Rs. 5.48 crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. issue of 61,80,000 equity shares of face value of Rs. 10 each, at an issue price of Rs. 163/-per equity share for cash, aggregating upto Rs. 100.73 crores is herein after referred to as the "Net Issue". the public issue and net issue will constitute 26.44% and 25.08 % respectively of the post- issue paid-up equity share capital of the company. The company in consultation with the book running lead manager, has allotted a pre-ipo placement of up to 8,26,400 equity shares by way of private placement at an issue price of Rs. 138 per equity share (including a premium of Rs. 128 per equity share) for an aggregate consideration of Rs. 11.40 crores. Accordingly, the size of the issue has been reduced by 8,26,400 equity shares. The investors that have subscribed to the equity shares of the company pursuant to the pre-ipo placement have been informed that there is no guarantee that the issue may come through or the listing may happen and accordingly, the investment was done by the relevant investors solely at their own risk. The face value of the equity shares is Rs. 10/- each. The issue price is 16.3 times with the face value of the equity shares. The anchor investor issue price is Rs. 163 per equity share.

Vision Infra Equipment Solutions Ltd IPOVIESL

Objectives of Vision Infra Equipment Solutions Ltd IPO

Vision Infra Equipment Solutions Ltd IPO Strategy

About Vision Infra Equipment Solutions Ltd

Strengths vs Risks of Vision Infra Equipment Solutions Ltd

Strengths

Risks

How to check the allotment status of Vision Infra Equipment Solutions Ltd IPO?

IPO reads

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When does Vision Infra Equipment Solutions Ltd IPO open?

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What are the strengths of Vision Infra Equipment Solutions Ltd?

What are the promoter details of Vision Infra Equipment Solutions Ltd IPO?

What are the risks of Vision Infra Equipment Solutions Ltd?

What is the issue type of Vision Infra Equipment Solutions Ltd IPO?

What is the minimum application for shares of Vision Infra Equipment Solutions Ltd?

Total shares issue of Vision Infra Equipment Solutions Ltd IPO?

What are the objectives of Vision Infra Equipment Solutions Ltd IPO?

Vision Infra Equipment Solutions Ltd IPO