VISAMAN GLOBAL SALES IPO Review

VISAMAN GLOBAL SALES Ltd. is one of the fastest growing and leading supplier, professionally managed organization engaged in the supply of ERW Mild Steel (Ms), Galvanised (Gi), Pre Galvanised (p) & CRC - Square, Rectangle & Round Hollow Tubes, Boiler Tube, Spiral Pipe, TMT, Hot Rolled (Hr) Plate, Crc Coils & Sheets, Colour Coated Coils & Sheets, Pre Galvanised (GP) Coils & Sheets, total structural steel solutions anywhere in INDIA. 

The Company have a professional and experienced Promoter named, MR. SURESHCHANDRA GULABCHAND VASA, who has over 18 years of experience in the field of steel and steel products trading industry.

Financially, Visaman Global Sales revenue jumped from ₹13,636.19 Lakhs in FY21 to ₹32,407.29 Lakhs in FY22 and further increased to ₹37,605.01 Lakhs in FY23 and currently at ₹20,691.39 Lakhs for 9MFY24. Similarly, EBITDA increased from ₹145.96 Lakhs in FY21 to ₹279.30 Lakhs in FY22 and further increased in FY23 at ₹657.83 Lakhs and currently at ₹573.36 Lakhs for 9MFY24. The PAT increased from ₹33.47Lakhs in FY21 to ₹94.66 Lakhs in FY22 and further showing growth at ₹113.33 Lakhs in FY23 and currently at ₹101.6 Lakhs for 9MFY24. This indicates a steady growth in financial performance.

For the Visaman Global Sales IPO, the company is issuing shares at a pre-issue EPS of ₹1.12 and a post-issue EPS of ₹0.82. The pre-issue P/E ratio is 38.39x, while the post-issue P/E ratio is 52.43x against the industry P/E ratio of 20.47x. The company's ROCE for 9MFY24 is 8.02%, and ROE for 9MFY24 is 9.28%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Mason Infratech indicates potential listing gains of 15%- 20% . Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid the IPO for listing gains or long term Investment purposes.