Vishnu Prakash R Punglia Limited's IPO to open on August 24, 2023, sets price band at Rs ₹ 94 to 99 per Equity Share

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  by Samiksha Chogule

Price Band of ₹ 94 to 99 per equity share bearing face value of ₹ 10 each (“Equity Shares “)

Bid/offer opening Date – Thursday, August 24, 2023 and Bid/offer Closing Date- Monday, August 28, 2023.

Minimum Bid Lot is 150 Equity Shares and in multiples of 150 Equity Shares thereafter.

The Floor Price is 9.4 times the face value of the Equity Share and the Cap Price is 9.9 times the face value of the Equity Share.

Mumbai, August 21, 2023 : Jodhpur – based Vishnu Prakash R Punglia Limited is an integrated Engineering, Procurement and Construction (“EPC”) company, which specializes in water supply Projects (WSP) has fixed the price band at ₹ 94 to 99 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Thursday, August 24, 2023, for subscription and closes on Monday, August 28, 2023. Investors can bid for a minimum of 150 Equity Shares thereafter.

The Public Issue of face value of ₹ 10  per Equity share is entirely a fresh issuance of equity shares up tp 31,200,000.

Led by Promoter Vishnu Prakash Punglia, the EPC company has a strong operational understanding with a consistent track record in carrying out infrastructure projects for over three decades.

It owns a fleet of about four hundred and ninety – nine construction equipment assets which includes crushers, excavators, loaders, dozers, paver machines, ready mix concrete plants, concrete mixtures, cranes, tractors and transportation vehicles from some of the leading suppliers.

Its major activities include constructing, designing, building, implementing, operating, maintaining and developing Water Supply Projects (WSPs) including Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for supply of water, as well as other projects such as Roads, Bridges, Tunnels, warehouses, Buildings, Railway Buildings including platforms, Stations, quarters, administrative buildings, Rail-Over-Bridges and Waste Water Treatment Plants (WWTPs).

The company’s revenue from operations increased from ₹4,857.31million in financial year ended March 31, 2021 to  ₹ 7,856.13 million in financial year ended March 31, 2022 and further to ₹11,684.04 million in financial year ended March 31, 2023 showcasing a CAGR of 55.1%. profit after tax stood at Rs. 90.6 crore, whereas EBITDA margin stood at 13.7%.

Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited are the book running lead managers and link Intime India Private Limited is the Registrar to the offer. The Equity Shares are proposed to be listed on BSE and NSE.

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