Visaman Global Makes a Modest Market Entry, Lists with 5% Premium on NSE SMEVisaman Global Makes a Modest Market Entry, Lists with 5% Premium on NSE SME

Visaman Global Sales debuted on NSE SME with a modest 5% premium, listing at ₹45.10 compared to the ₹43 issue price. The ₹16.05 crore SME IPO, comprising 37.3 lakh fresh shares, marked a flat start for the company in the stock market.

The IPO, open from June 24 to 26, 2024, garnered strong investor interest with a 42-fold overall subscription. Retail investors led the demand, subscribing 51.54 times, while other buyers showed robust interest with a 29.12x subscription rate.

Visaman Global Sales Limited specializes in steel product supply, offering customization and credit facilities. They collaborate with manufacturers for tailored solutions and act as a dealer for a major tube manufacturer. The company employs diverse sales strategies, emphasizing quality assurance and customized offerings through established distribution channels.

Visaman Global Sales Limited’s IPO aims to fund a new manufacturing facility in Rajkot, Gujarat (₹7.22 crore) and working capital needs (₹7 crore) for FY2025. The remaining funds will support general corporate purposes, including strategic initiatives, partnerships, acquisitions, and brand promotion.