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PNN
Ahmedabad (Gujarat) [India], September 29: Public issue of Vivaa Tradecom Ltd engaged in the manufacturing and trading of cloths and garments opened for subscription on September 27. Company is planning to raise Rs. 7.99 crore for funding working capital requirements and general corporate purposes. Last date for subscribing for the public issue is October 4. The initial public offering will comprise a fresh issue of 15.66 lakh equity shares of face value Rs. 10 each at a price of Rs. 51 per share (including a premium of Rs. 41 per equity share) aggregating upto Rs. 7.99 crore. Minimum lot size for the application is 2,000 shares which translates in to Rs. 1.02 lakh per application. Interactive Financial Services Ltd is the lead manager of the issue. Companys shares will be listed on the BSE SME Exchange Platform. Incorporated in 2010, Vivaa Tradecom Limited is engaged in the manufacturing as well as trading of clothes and garments. The company's product list includes Denim Fabric, readymade garments such as Denim/Cotton Jeans for Men, Denim/Cotton Jeans for Women, and also undertake the Cotton Printing Job work and trade in Printed Cotton Fabric. In March 2023, Vivaa entered into an agreement with Rushil Dcor Limited for distributing VIR MDF Boards of various thicknesses and Prelam MDF Boards, which are used in the furniture industry, in Karnataka, Kerala, Delhi, Punjab, Haryana, Uttar Pradesh, Chandigarh, Himachal Pradesh, Jammu & Kashmir, Rajasthan, and Uttarakhand states of India. Vivaa Tradecom's clientele includes Lifestyle International Pvt. Ltd., Aditya Birla Fashion and Retail Ltd., Lajja Polyfab Pvt. Ltd., Nandan Denim Limited, Bajaj Impex, Reliance Retail Limited, and so on. For FY22-23 company reported revenues of Rs. 134 crore and Net Profit of Rs. 25.48 lakh. As on March 2023, net worth of the company was Rs. 12.11 crore with reserves and surplus of Rs. 9.74 crore. Promoters and Promoters Group holds 50% stake in the company. Post-IPO promoter group holding will be 30.11%. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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