Virtuoso Optoelectronics Limited becomes 391st Company to get listed on BSE SME Platform

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Virtuoso Optoelectronics Limited becomes 391st Company to get listed on BSE SME Platform

Virtuoso Optoelectronics Limited becomes 391st Company to get listed on BSE SME Platform on September 15, 2022. Virtuoso Optoelectronics Limited came out with an initial public offering of 54,00,000 equity shares of Rs.10 each (“Equity Shares”) for cash at a price of Rs. 56 per equity share (The “Offer Price”), aggregating to Rs. 30.24 Crore. The company has successfully completed its public issue on September 07, 2022.

Virtuoso Optoelectronics Limited is Maharashtra based company whose registered office is at Nasik. The company engaged in the business of f designing & manufacturing of Electrical & Electronics, Lighting, & other Engineering industries in India. The company’s current product portfolio of consumer goods includes (I) Split Air Conditioners; (ii) Water Heaters; (iii) LED Lighting products; and (iv) other miscellaneous products such as injection moulding components for air conditioners. Company serves under both original equipment manufacturer (“OEM”) and original design manufacturer (“ODM”) business models. Under the OEM model, the company manufacture and supplies products basis designs developed by the customers, who then further distribute these products under their brands. Under the ODM model, in addition to manufacturing, the company conceptualize and design the products which are then marketed to the customers’ prospective customers under their brands.

Mumbai based Fedex Securities Private Limited, was the lead manager to Virtuoso Optoelectronics Limited.

So far, 151 companies have migrated to the main board. The 390 companies listed on BSE SME Platform have raised Rs.4,222.53 crore from the market and total market capitalization of 390 companies as on September 14, 2022 is Rs. 60,852 Crore. BSE is the market leader in this segment with a market share of 61 percent.

SEBI came out with detailed guidelines on 18th May 2010 for launching of SME Exchange/Platform. BSE became the first stock exchange to get the approval from SEBI and launch its SME platform on 13th March 2012.

The response since the launch of this platform by BSE has been very positive till date.

Business Gujarat News

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