Vishnu Prakash IPO: The Initial Public Offering (IPO) of Vishnu Prakash R Punglia Limited opened for registration today and it will remain open to bidders until August 28, 2023. The infrastructure design and construction company has set the IPO price of Vishnu Prakash at $94 to $99 per share of equity and book issue also made their debut on the black market. According to market observers, shares of Vishnu Prakash R Punglia Limited are currently priced higher $65 per share in today’s black market.
Important Information about Vishnu Prakash . IPO
1]Vishnu Prakash IPO GMP today: According to market observers, the gray market premium of Vishnu Prakash’s IPO (GMP) today is $65.
2]Vishnu Prakash IPO price: The company has fixed the book issuance price bracket at $94 to $99 per equity share.
3]Vishnu Prakash IPO date: The public release went live to the primary market today and it will remain open until August 28, 2023.
4]Size of Vishnu Prakash’s IPO: The company aims to improve $308.88 crore from the initial offering.
5]Vishnu Prakash IPO lot size: Auctioneers will be able to sign up for lots and one issue consisting of 150 company shares.
6]Vishnu Prakash IPO investment limit: As mentioned above, retail investors will be able to apply in lots and one lot will consist of 150 shares. This means, a retail investor will require at least $14,850 ( $99×150) to apply for an IPO.
7]Vishnu Prakash IPO allocation date: The expected date of completion of the share allocation is August 31, 2023.
8]IPO Registrar Vishnu Prakash: Link Intime India Private Ltd has been appointed as the official registrar for the IPO.
9]Vishnu Prakash Listed IPO day: The proposed public offering is listed on BSE and NSE and most likely the date of Vishnu Prakash’s IPO listing is September 5, 2023.
10]Vishnu Prakash IPO review: Giving the ‘register’ card to Vishnu Prakash’s IPO, Reliance Securities said: “For fiscal year 2023, the IPO is priced at P/E 10.2x, EV/EBITDA 9x and EV/ Revenue 1.2x VPRPL has been gradually increasing their capabilities in terms of the scale of the projects undertaken.Infrastructure sector, which is the main driver of the Indian economy, is likely to Furthermore, with the 2023-23 Union budget, the company will benefit from various government initiatives in infrastructure, waste management In terms of diversified businesses, strong financial position, plenty of growth opportunities and a healthy order book, we recommend SIGNING for this .”
Suggesting ‘apply’ for long-term investors, Sushil Finance said: “Compared to peers, the highest and lowest P/E is 12.56x of HG Infra Engineering Ltd. and 25.62x of ITD Cementation India Ltd. and the industry average of 17.22x the issue looks attractively priced. The company has a strong client base and track record of successfully completed projects. As of July 15, 2023, the total Order Book was $37,995.28 million VND, all projects funded by state agencies. The company is planning to bid for higher value projects, however to do so the company will need higher working capital. However, the company is heavily concentrated in Rajasthan with revenue accounting for 66.86% of Total revenue for fiscal year 23. The company has $$844.72 million is an unsecured loan and is repayable upon request. A sudden recall may disrupt their operations. Keep in mind all the positives and negatives that an investor can look to for a long-term investment.”
Disclaimer: The views and recommendations expressed above are those of individual analysts or brokerage firms and not those of Mint. We advise investors to check with certified professionals before making any investment decisions.
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Update: Aug 24, 2023, 09:26 a.m. IST