Vinir Engineering Files DRHP With SEBI for Fresh Issue of 7.1 Crore Shares

Integrated engineering solutions player Vinir Engineering Limited has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO).

The proposed issue is structured as a 100% fresh issue of up to 7,10,00,000 equity shares with a face value of ₹2 each, with no offer-for-sale (OFS) component from existing shareholders. The company plans to list its shares on both the BSE and the National Stock Exchange of India (NSE). Ahead of the issue, the company has 21,26,29,380 pre-issue equity shares outstanding.

Use of IPO Proceeds

The net proceeds from the fresh capital raise are slated to support capacity expansion, meet ongoing operational capital requirements, and pursue strategic expansions. The allocation plan includes:

• ₹149.85 crore earmarked for the purchase of advanced forging and machining plant and machinery.
• ₹35.00 crore to fund working capital requirements.
• The remaining balance will fund inorganic growth through unidentified acquisitions alongside general corporate purposes.

Issue Structure and Lead Managers

Under the proposed issue reservations, the allocation across various investor categories is structured as follows:

• Qualified Institutional Buyers (QIBs): Not more than 50% of the net issue, of which up to 60% may be allocated to anchor investors on a discretionary basis.
• Retail Individual Investors (RIIs): Not less than 35% of the net issue.
• Non-Institutional Investors (NIIs): Not less than 15% of the net issue.

GYR Capital Advisors Private Limited has been appointed as the book-running lead manager for the issue, while KFin Technologies Limited is acting as the registrar.

Business Profile and Financial Performance

Vinir Engineering manufactures specialized, critical, heavy, precision-forged, and machined components. Its operations cater to critical industrial sectors, including energy, defence, aerospace, railways, energy turbines, hydraulics, earthmoving machinery, and high-end engineering applications.

The manufacturer utilizes all four standard industrial forging processes—closed die, open die, ring rolling, and radial forging—producing components that range between 20 kilograms and 6,000 kilograms. Alongside its domestic client base across India, the company supplies products to overseas markets, including the United States, Mexico, Spain, Malaysia, Canada, the United Kingdom, and Singapore.

On the financial front, the company reported revenue from operations of ₹204.83 crore for the financial year FY26. Its profit after tax (PAT) for the same period stood at ₹24.39 crore.

Tags: Vinir Engineering SEBI IPO Capital Goods BSE NSE