INSUBCONTINENT EXCLUSIVE:
Varroc Engineering IPO opened on Tuesday
The Varroc Engineering IPO's price band has been fixed in the range of Rs 965 and Rs 967
Varroc group started in 1988
The company is a global tier-1 automotive component manufacturer and supplier of exterior lighting systems, plastic and polymer components,
electricals-electronics components, and precision metallic components to passenger car, commercial vehicle, two-wheeler, three-wheeler and
off highway vehicle ("OHV") OEMs directly worldwide
With 36 world-class manufacturing facilities and 16 RD centers in 10 countries, Varroc group is on an exponential growth trajectory clocking
a sale of $1.5 billion in 2016-17.Varroc Group is led by Naresh Chandra, chairman and non-executive director
Company's managing director is Tarang Jain, managing director, Varroc Engineering Ltd
The IPO is valued at Rs 1,951 crore (floor price) and at Rs 1,955 crore (cap price)
The book running lead managers are IIFL Holdings
The Varroc Engineering IPO's price band ranges between Rs 965 and Rs 967 for a share with a face value of Re 1.2
The Varroc Engineering's nearly Rs 2,000 crore IPO opened today, and will close on Thursday, June 28
The minimum order quantity is 15 equity shares.3
The Varroc Engineering's price/earnings (P/E) ratio ranges between 28.89 to 28.95 (consolidated basis) based on the EPS for 2017-18
The P/E ratio ranges between 194.56 and 194.96 (standalone basis) for last financial year's EPS
The PE ratio of average industry peer group is 42.60.5
The return on net worth (RoNW) ratio stands at 15.93 percent for the 2017-18 year
The previous two year RoNWs stand at 13.88 percent (2017 fiscal) and 21.15 percent (2016 fiscal).
