Incoporated in 2007, Veto Switchgears and Cables Ltd is an ISO 9001:2008 certified company, engaged in the manufacture and sale of wires & cables and electrical accessories in India. Veto Switchgears product portfolio ranges from industrial cables, stand cables to telephone & co-axial wires, from general switches to modular switches, from ceiling fans to rechargeable fans, compact fluorescent lamps and other electrical accessories.
Veto Switchgears manufacturing unit located in Hardwar, Uttarakhand. Veto Switchgears supply their products under the brands "VETO" and "VIMAL POWER".
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Modernisation of existing facility at Hardwar, Uttarakhand | ₹5 |
| 2 Incremental long-term working capital requirement | ₹16 |
| 3 Enhancement of our Company’s brand through advertising and other brand-building activities | ₹2 |
| 4 General Corporate Purposes | ₹1 |
| 5 To meet the Issue expenses | ₹2 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 1,041,500 (21%) | — |
| NII / HNI | — | 1,666,400 (33%) | — |
| Retail (RII) | — | 1,458,100 (29%) | — |
| Market Maker | — | 834,000 (17%) | — |
| Total | — | 5,000,000 (100%) | — |
* Amount calculated at upper price band (₹50) · ** Total includes all investor categories
- Retail allocation is moderate at 29% of the total offering.
- HNI/NII demand is strong at 33%.
- Institutional (QIB) interest is strong at 21%.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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