Varroc Engineering Limited: Initial Public Offer to open on June 26, 2018 and to close Price Band: Rs. 965 to Rs. 967 per Equity Share

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Mumbai: Varroc Engineering Limited (the “Company”), proposes to open the Offer on June 26, 2018, an initial public offering of 20,221,730 Equity Shares through an offer for sale by the promoter and investor selling shareholders (as defined below) (the “Offer”). The Offer consists of an offer for sale of (i) up to 1,752,560 Equity Shares by Mr. Tarang Jain (“Promoter Selling Shareholder”), (ii) up to 16,917,130 Equity Shares by Omega TC Holdings Pte. Ltd. (“Investor Selling Shareholder 1”) and (iii) up to 1,552,040 Equity Shares by Tata Capital Financial Services Limited (“Investor Selling Shareholder 2”). The Offer also includes a reservation of 100,000 Equity Shares, for subscription by eligible employees (the “Employee Reservation Portion”) at a discount of Rs. 48 per share on the Offer Price (“Employee Discount”). The Offer less the Employee Reservation Portion is the “Net Offer” and such Net Offer aggregates up to 20,121,730 Equity Shares. The Offer and the Net Offer shall constitute 15% and 14.93%, respectively, of the post-offer paid-up equity share capital of the company.

The Bid/Offer Period closes on June 28, 2018. The Company and the Selling Shareholders, in consultation with the GCBRLMs and the BRLM, may consider participation by Anchor Investors, in accordance with the SEBI ICDR Regulations. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date.

The Price Band for the Offer is from Rs. 965 to Rs. 967 per Equity Share. Bids can be made for a minimum lot of 15 Equity Shares and in multiples of 15 Equity Shares thereafter.

The Equity Shares are proposed to be listed on BSE and NSE.

The Global Co-ordinators and Book Running Lead Managers (“GCBRLMs”) to the Offer are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited. IIFL Holdings Limited is the Book Running Lead Manager (“BRLM”).

  

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