In the month of June, very few IPO could get the positive response and Varroc Engineering is one of them. After getting subscribed by numerous investors, the Varroc Engineering – an auto component maker will debut on 6th July. The final stock issue price is fixed.

During June 26-28, this Initial public offer (IPO) was oversubscribed 3.59 times by the strong investors. The IPO has received bids for whopping 5.09 crore shares while the offer size is for only 1.4 crore shares.

The price bands for the public issue was INR 965-967 per equity shares and an offer for sale of 2,02,21,730 shares. The promoters are Tarang Jani, Omega TC Holdings and Capital Financial Services.

The Varroc Engineering is founded in 1990 in Aurangabad and now it’s a prominent name in the automotive component manufacturing industry. It mainly supplies exterior lighting systems, body & chassis parts to passenger cars, electrical & electronics, power-trains and much more.

The buyers of the automotive parts are mainly Bentley, Jaguar Land Rover, Harley Davidson and Audi. Along with these, it also supplies the parts to giant companies such as Ford, Volkswagen, Bajaj Auto and Honda.