Viviana Power Tech to float Rs 8.8 cr. maiden IPO for NSE SME Listing

Mumbai (Maharashtra) [India], September 2 (ANI/PNN): Vadodara-based Viviana Power Tech Ltd is coming out with its maiden IPO of Rs 8.80 cr. for NSE SME Emerge listing.

Incorporated in 2014, the company is engaged in the business of Power Transmission, Distribution, and Industrial EPC space projects (Engineering, Procurement, and construction). The company provides a wide range of services such as Power Transmission, EHV substation, Testing and Commissioning of sub-station and Transmission, Power Distribution Network Establishment, Underground Cable laying, Upgradation, and modification of existing power systems.

Viviana Power Tech has a business module to suit operational needs. Business operations mainly comprise two main tasks: Supply and service. The company owns adequate machinery but for specific requirements of machinery, company avails services on a hire basis.

The company is an ISO 9001:2015 certified organization for Quality Management systems, ISO 14001:2015 for Environmental Management systems, and OHSAS 45001:2018 for Occupational Health and Safety Management systems.

The company's client list includes Adani Group, Gujarat State Electricity Ltd, L & T, GETCO, BHEL, Welspun, etc.

The company is coming out with an IPO of 16,00,000 equity shares of Rs. 10 each at a price of Rs 55 per share. IPO is scheduled from September 05, 2022, to September 08, 2022. Investors will have to apply for a minimum of 2000 shares and in multiples thereon, thereafter. The shares will be listed on Emerge platform of NSE after allotment. This issue is lead managed by Beeline Capital Advisors Pvt. Ltd. and Skyline Financial Services Pvt. Ltd. is a registrar to this issue.

The company has posted growth in its working for the past three fiscals. Its turnover grew from Rs 20.01 cr. for FY20 to Rs 33.00 cr. for FY22. Its net profit too jumped from Rs 1.21 cr. for FY20 to Rs 2.90 cr. for FY22.

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