Viaz Tyres Limited announces its IPO on NSE Emerge on February 16, 2023

Ahmedabad : Viaz Tyres Limited manufactures butyl rubber tubes for bicycles, two- and three-wheelers, passenger vehicles, and heavy-load industrial vehicles and sells automobile tyres. Its IPO of 32,26,000 Equity Shares of 10/- each at 62 per Equity Share, including a 52-rupee share premium, raises 2,000.12 lakhs. Lot size is 2,000. 15,32,000 retail, 15,32,000 non-retail (NII), and 1,62,000 market maker shares are reserved from 32,26,000 equity shares. The issue runs from 16 to 21 February 2023. NSE Emerge will list it. Beeline Capital Advisors Pvt. Ltd. leads the issue.

The key objectives of the issue are

– Repayment or Prepayment or part repayment of loan

– To Meet Working Capital Requirements

– General Corporate Purpose

– Public issue expenses

Viaz Tyres Limited has recorded an impressive growth over the fiscal years. Its total revenue for FY22 was ₹2933.04 lakhs, which was ₹2917.26 lakhs for FY21, while its revenue for Q2 FY23 stood at ₹2379.10 lakhs. Its EBITDA for FY22 was ₹454.61 lakhs, which was ₹389.02 lakhs in FY21, while its EBITDA for Q2 FY23 was ₹316.42 lakhs. The company registered a PAT of ₹146.91 lakhs in FY22, which was ₹60.64 lakhs in FY21, while the company’s PAT for Q2 FY23 was ₹152.72 lakhs.

Viaz Tyres Limited is an Ahmedabad-based company engaged in the manufacturing of rubber tubes for bicycles, two and three-wheelers, passenger vehicles, and heavy-load industrial vehicles, Off The Road (OTR) tubes and Animal Driven Vehicle (ADV) Tubes, Engine Oil, and Grease. The company sells tyre inner tubes, bicycle tyres, and ancillary products under the brand name “VIAZ” & “CVAZ” in domestic as well as international markets. The promoters of the company have a rich business legacy of over 12 years.

The company has its production facility with installed capacity of manufacturing                     7,00,000 units per Month at Nandasan near Ahmedabad, Gujarat. India. It has more than 2000 plusdealers and sub-dealers globally. The company also has presence in over  5 countries, namely the United States of America, Turkey, Romania, United Arab Emirates and Colombia. It has recently started trading tyres through an exclusive distributorship of Maxxis Rubbers Private Limited for Turkey.