Valplast Technologies to raise Rs 28.09 cr via IPO; public issue to open on Tues

New Delhi, Sep 29 (PTI) Valplast Technologies, a civil engineering and infrastructure solutions company, on Monday said it has fixed a price band of Rs 51-54 per share for the Rs 28.09 crore initial share sale, which will open on September 30.

The initial public offering (IPO) will conclude on October 3. Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof, the company said in a statement.

The IPO is entirely a fresh issue of 52.02 lakh equity shares aggregating to an issue size of Rs 28.09 crore, with a price band of Rs 51-54 per equity share, it added.

The net proceeds from the issue to the tune of Rs 14 crore will be used for working capital requirements, Rs 4.95 crore will be utilised for funding the capital expenditure requirements by purchase of machinery and the balance for general corporate purposes and issue expenses.

"The proceeds from this issue will further strengthen our working capital, expand our project execution capabilities, and enable us to take on larger, more sophisticated projects across India," said Sanjay Kumar, Managing Director of Valplast Technologies Ltd.

Incorporated in 2014, Faridabad-based Valplast Technologies Ltd specialises in waterproofing, tunnelling, dams, reservoirs, shafts, and MEP works. The company has a robust book order worth Rs 200 crore.

On the financial front, the company reported revenue of Rs 63.25 crore and profit after tax of Rs 6.11 crore in FY 25, reflecting strong operational and financial performance.

The company's shares will be listed on the BSE's SME platform.

Fintellectual Corporate Advisors is the sole book running lead manager, while Bigshare Services is the registrar for the IPO. PTI HG MR