Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

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Varroc Engineering Ltd / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/27172" target="_blank" data-smartkarma-citation="entities:27172:1">Varroc Engineering Ltd (934734Z IN)</a> plans to raise around US$290m in its IPO via a selldown of secondary shares.The company is one of the largest global players in the automotive lighting business and one of the leading suppliers for 2-3 wheeler markets in India. While its Indian business has mostly been built organically, its international business has been stitched together through various acquisitions. In effect, the company is essentially two different entities with the business in India being very different from the business outside of India and thus, it should be valued as such.

Varroc Engineering Ltd (934734Z IN) plans to raise around US$290m in its IPO via a selldown of secondary shares.The company is one of the largest global players in the automotive lighting business and one of the leading suppliers for 2-3 wheeler markets in India. While its Indian business has mostly been built organically, its international business has been stitched together through various acquisitions. In effect, the company is essentially two different entities with the business in India being very different from the business outside of India and thus, it should be valued as such. 

Varroc Engineering Limited IPO - A Mixed Bag, in More Ways that One

India

Varroc Engineering Limited operates as an automotive component manufacturer and supplier. The Company designs, develops, and manufactures starter and wiper motors, alternators, switches, lamps, digital instruments, cluster, instrumental panel, door trims, mirror assemblies, and gears. Varroc Engineering serves customers worldwide.

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Varroc Engineering Ltd (VARROC IN)

Varroc Engineering Limited IPO - A Mixed Bag, in More Ways that One

Varroc Engineering Ltd (934734Z IN) plans to raise around US$290m in its IPO via a selldown of secondary shares.The company is one of the largest...

Sumeet Singh

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