Vishnu Prakash R Punglia Limited based in Jodhpur, an Engineering, Procurement and Construction (“EPC”) company specializing in water supply projects (WSP), is preparing to launch its first public offering of shares. initial public offering (IPO).
The Initial Public Offering (IPO) of Vishnu Prakash R Punglia Limited opened today (August 24, 2023) and will end on Monday, August 28, 2023.
Vishnu Prakash GMP IPO, price range and other details
Tire price: The price range for Equity Shares has been fixed at Rs 94 to Rs 99.
lot size: One lot consists of 150 shares and is worth Rs 14,850. Retail investors can purchase up to 13 lots, including 1,950 shares worth Rs 1,93,050.
IP Size: This public offering involves a new issuance of up to 31.2 million shares and aims to raise capital of Rs 309 crore.
listing date: The IPO is expected to be listed on the stock market on September 5, 2023. Equity shares are expected to be listed on both the BSE and the NSE, creating new opportunities for investors.
Gray market premium (GMP): The gray market premium (GMP) for unlisted shares of Vishnu Prakash currently stands at Rs 54, marking a premium of 54.55% against the IPO price range of ‚¹99.
Registration Status: The IPO was registered 1.53 times in the first day as of 12:35pm thanks to interest from retail and NII investors.
Promoter: Company promoters include Vishnu Prakash Punglia, Manohar Lal Punglia, Sanjay Kumar Punglia, Kamal Kishor Punglia and Ajay Punglia.
Anchor investor feedback: Prior to the IPO, the company obtained Rs 91.77 crore from fixed investors.
Foreign and domestic involvement: Key investors include Quant Mutual Fund, Kotak Mahindra Life Insurance, BNP Paribas and others.
Increase the revenue: The company’s revenue has shown a remarkable Compound Annual Growth Rate (CAGR) of 55.1% from FY21 to FY23.
Strong activity profile: Led by Promoter Vishnu Prakash Punglia, the company boasts an impressive track record in infrastructure projects over three decades.
Diverse equipment team: The company owns a diverse fleet of more than 480 construction equipment assets, contributing to the strength of the company’s operations.
Activities & Services: Vishnu Prakash is actively involved in Water Supply Projects, along with other infrastructure projects such as roads, bridges, etc.
Broker rating: Several brokerages, including BP Equities, Geojit, Nirmal Bang, StoxBox, Swastika Investmart Ltd and Reliance Securities, have given ‘subscribe’ ratings to the IPO.
August 24, 2023