Vinir Engineering files DRHP with SEBI to launch its IPO; check details

Vinir Engineering has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO is a 100 per cent fresh issue of 7.10 crore equity shares, or up to 71,000,000 equity shares of face value Rs 2 each.

Vinir Engineering is an integrated engineering solutions player that manufactures specialised, critical and heavy precision-forged and machined components for sectors including energy, defence, aerospace, railways, energy turbines, hydraulics, earthmoving and high-end engineering. The proposed listing is on the BSE and NSE.

Vinir Engineering said the net proceeds will be used for the purchase of advanced forging and machining plant and machinery worth Rs 149.850 crore, working capital requirements of Rs 35 crore, and for funding inorganic growth through unidentified acquisitions and general corporate purposes. GYR Capital Advisors is the book running lead manager, while KFin Technologies is the registrar to the issue.

Under the issue structure, not more than 50 per cent of the offer is reserved for qualified institutional buyers, of which up to 60 per cent may be allocated to anchor investors. At least 15 per cent is earmarked for non-institutional bidders and at least 35 per cent for retail individual bidders. The company had 212,629,380 pre-issue equity shares.

Vinir Engineering, incorporated in 1983 and based in Bangalore, supplies components for applications such as armoured vehicles, armaments and ammunition, oil and gas systems, aircraft propulsion systems, power and gas turbines, railway locomotives and nuclear energy infra. It had installed forging capacity of 30,000 MTPA and machining capacity of 8,000 MTPA across three manufacturing units

It uses all four forging types - Closed Die, Open Die, Ring Rolling and Radial Forging - and manufactures components weighing from 20 kg to 6,000 kg for customers in India and overseas, including the United States, Mexico, Spain, Malaysia, Canada, the United Kingdom and Singapore.

It said its strengths include in-house capabilities across the value chain, a portfolio of more than 5,000 designed dies, a NABL-accredited testing laboratory, multiple certifications, automation-led systems and long customer relationships. Financially, revenue from operations stood at Rs 204.83 crore in FY26, while profit after tax was Rs 24.39 crore.