Varindera Constructions IPO Details
| IPO Open Date | 2025 |
| IPO Close Date | 2025 |
| Face Value | ₹1 Per Equity Share |
| IPO Price Band | ₹[.] to ₹[.] Per Share |
| Issue Size | Approx ₹1,200.00 Crores |
| Fresh Issue | Approx ₹900.00 Crores |
| Offer for Sale: | Approx [.] Equity Shares |
| Issue Type | Book Build Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Varindera Constructions IPO Review & Key Points
- Review:
Varindera Constructions IPO Market Lot
The Varindera Constructions IPO minimum market lot is [.] shares with ₹[.] application amount. The retail investors can apply up-to 13 lots with [.] shares of ₹[.] amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | – | – | ₹- |
| Retail Maximum | – | – | ₹- |
| S-HNI Minimum | – | – | ₹- |
| S-HNI Maximum | – | – | ₹- |
| B-HNI Minimum | – | – | ₹- |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Varindera Constructions IPO Anchor Investors
| Anchor Bidding Date | 2025 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | 2025 |
| lock-in period end date 50% shares (90 Days) | 2025 |
Varindera Constructions IPO Dates
The Varindera Constructions IPO date is 2025 and the close date is 2025. The Varindera Constructions IPO allotment will be finalized on 2025 and the IPO listing on 2025.
| IPO Open Date: | 2025 |
| IPO Close Date: | 2025 |
| Basis of Allotment: | 2025 |
| Refunds: | 2025 |
| Credit to Demat Account: | 2025 |
| IPO Listing Date: | 2025 |
| IPO Bidding Cut-off Time: | 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Varinder Kumar Garg, Sushma Garg, Vivek Garg and VG Family Trust.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 15,49,80,000 | 99.81% |
| Promoter Holding Post Issue | – | -% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Capital expenditure towards purchase of equipments. | ₹160.12 |
| Funding the working capital requirements of the Company. | ₹155.00 |
| Repayment/prepayment in full or in part, of certain outstanding borrowings availed by the Company. | ₹359.89 |
| General corporate purposes. | – |
About Varindera Constructions IPO
The leading Indian company, Varindera Construction Limited (VCL), which has been around since 1987, is involved in offering engineering, procurement, and construction (EPC) services. The company’s portfolio consists of building a wide range of projects, such as buildings (Residential complexes, commercial buildings, offices, railway stations, hospitals, high courts, and libraries) and Infrastructure projects (Metro depots, aircraft hangars, and roads).
Recently, Varindera Construction also received a ₹532 crore contract from Smartworld Developers for the ‘Sky Arc’ project on a 6.9-acre site. The company includes 1810 employees, with 304 in-house engineers skilled in using modern construction equipment and machinery to enable smooth project execution as of March 31, 2024.
Varindera Constructions IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2022 | ₹997.15 | ₹896.49 | ₹76.15 | ₹527.05 |
| 2023 | ₹1,063.81 | ₹927.05 | ₹109.01 | ₹755.99 |
| 2024 | ₹1,403.98 | ₹1215.64 | ₹143.38 | ₹1,074.06 |
Varindera Constructions IPO Valuation – FY2024
Check Varindera Constructions IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 33.02% |
| ROCE: | 25.03% |
| EBITDA Margin: | 17.26% |
| PAT Margin: | 10.32% |
| Debt to equity ratio: | 0.39 |
| Earning Per Share (EPS): | ₹9.25 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 33.02% |
| Net Asset Value (NAV): | ₹32.62 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Ahluwalia Contracts (India) Limited | 55.95 | 21.26 | 26.51% | 238.84 | – Cr. |
| Capacite Infraprojects Limited | 16.09 | 24.90 | 9.29% | 179.31 | – Cr. |
| NCC Limited | 11.32 | 27.27 | 11.14% | 108.50 | – Cr. |
| PSP Projects Limited | 34.16 | 19.52 | 14.33% | 254.13 | – Cr. |
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Ltd.
- Equirus Capital Pvt.Ltd.
- IIFL Capital Services Ltd.
Company Address
Varindera Constructions Ltd.
Office No. 613, 6th Floor, Plot No. 4,
Vishwadeep Tower, District Centre,
Janakpuri
New Delhi, New Delhi, 110058
Phone: 0124 – 4046363
Email: [email protected]
Website: https://www.vclgr/
IPO Registrar
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
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Note: The Varindera Constructions IPO price band and date are officially announced. The (Varindera Constructions IPO grey market premium) will be added to the IPO GMP page as it will start).
