vishwaraj sugar IPO Dates Review Price Band Market Lot

Vishwaraj Sugar IPO


Incorporated in 1995, Karnataka-based Vishwaraj Sugar Industries Limited (VSL) is engaged in manufacturing of sugar and other allied products. The other allied products manufactured by the company are Extra-Neutral Spirits, Vinegar, Rectified Spirits, Indian Made Liquor, Carbon dioxide (CO2), and Compost. VSL also generates power from sugars byproducts for captive consumption and commercial sale.

Broadly, the business of the company can be divided into five categories, which are Vinegar, Indian Made Liquor (IML), Co-Generation, Distillery, and Sugar. The products of the company such as rectified spirit, ethanol, and extra neutral spirit come in the distillery product segment.

The company has laboratories to test the quality standards of the products and reduce the wastage. Every single output and residue from sugarcane juice is used by the company and nothing is wasted. Vishwaraj Sugar Industries has produced 32,170 tonnes of sugar in the last financial year. VSL operates from Belgaum District, Karnataka which is one of the high recovery zones for sugar production in India.


Promoters of Vishwaraj Sugar

Umesh Katti, Ramesh Katti, Nikhil Katti, Lava Katti, Kush Katti, Sheela Katti, Jayashree Katti, and Sneha Nithin Dev are the promoters of the company.


Strength of  Vishwaraj Sugar

1. Vishwaraj Sugar produced 10 lakh quintals of sugar last year and carrying an inventory of 5 lakh quintals

2. Company’s total income increased 15% to 308 Cr (269 Cr) in the year ended March 2019

3. The company plans to divert some of the sugar cane juice for producing ethanol

4. Generates power from sugars byproducts for captive consumption and commercial sale.


Vishwaraj Sugar IPO Details

Issue Open Sep 30, 2019 
Issue Close Oct 4, 2019
Price Band Rs 55-60 per share
Lot Size  240 Shares & in multiple of 240 shares
Maximum Price Rs 14,400
Issue Type Book Built Issue IPO
Fresh Issue 30 Lakh Shares (16.5 – 18)Cr
Offer for Sale 70 Lakh Shares (38.5 – 42)Cr
IPO Size 1 Cr Shares (55 – 60)Cr
Face Value Rs. 10 Per Equity Share


Vishwaraj IPO Tentative Date / Timetable

Finalisation of Allotment Oct 11, 2019
Initiation of Refunds Oct 14, 2019
Credit of Shares to Demat Acct Oct 15, 2019
IPO Shares Listing Date Oct 16, 2019
Listing At BSE, NSE


Vishwaraj IPO Lot Size and Price (Retail)

Application Lots Shares Amount (Cut-off)
Minimum 1 240 Rs. 14,400
Maximum 13 3120 Rs. 187,200

Vishwaraj Sugar IPO Promoter Holding

Pre Issue Share Holding 54.22%
Post Issue Share Holding 32.83%


Financial Performance of (in INR crore) Vishwaraj IPO

FY19 FY18 FY17
Total Revenue 307.9 268.9 322.9
Total Expense 331.8 269.8 312.4
Comprehensive Income -17.4 -3.6 6.4
Net margin (%) -5.7 -1.3 2.0


Vishwaraj Sugar IPO Valuations

Face Value = Rs 10

Earnings Per Share (EPS) = -Rs 5.10

PE Ratio = N.A

Return on Net Worth (RONW) = -8.33%

Net Asset Value = Rs 61.20/Share


Vishwaraj Sugar IPO Subscription Details

Category Shares offered Subscription (no. of times, at 6 pm)
Day 1 Day 2 Day 3


1.00x 1.00x 1.00x
NII 0.6x 1.15x 1.64x
Retail 0.03x 0.12x 0.25x
Total 0.39x 0.62x 0.88x

Grey Market Premium of Vishwaraj Sugar IPO Day by Day

Grey market premium as on 03-10-2019 = Rs. 0.00/Share

Grey market premium as on 02-10-2019 = Rs. 0.00/Share

Grey market premium as on 01-10-2019 = Rs. 0.00/Share

Grey market premium as on 30-09-2019 = Rs. 0.00/Share

Grey market premium as on 29-09-2019 = Rs. 0.00/Share

Grey market premium as on 28-09-2019 = Rs. 0.00/Share

Grey market premium as on 27-09-2019 = Rs. 0.00/Share

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