·       Price Band of ₹94 – ₹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, 21 AUGUST, 2023 (GPN): Rajasthan Jodhpur- based Vishnu Prakash R Punglia Ltd. (VPRPL), an integrated Engineering, Procurement and Construction (EPC) company, is set to launch its initial public offering (IPO) on Thursday, August 24. The company has also announced the IPO price band and other details.

Vishnu Prakash IPO price band has been fixed at Rs 94 to Rs 99 per share. The IPO subscription which commences on August 24, will close on Monday, August 29.

At the upper end of the price band, the company plans to raise ₹308.88 crore from the public issue.

Vishnu Prakash R Punglia IPO lot size is 150 equity shares and the minimum investment amount required by retail investors is Rs. 14,850. Investors can bid for a minimum of 150 equity shares and in multiples of 150 equity shares thereafter.

The Rs. 308.88 crore worth Vishnu Prakash IPO is entirely a fresh issue of up to 3.12 crore equity shares of face value of Rs. 10 each.

The offer also includes a reservation for a subscription by eligible employees. The company is offering an employee discount of Rs. 9 per share.

Vishnu Prakash IPO allottment is likely to be fixed on 31st August and the initiation of refunds may take place on September 1st, while the shares are expected to be credited to eligible investors’ demat account on 4th  September, Vishnu Prakash shares are proposed to be listed on BSE and NSE on 5th September, 2023.Choice Capital Advisors Pvt Ltd and Pantomath Capital Advisors Pvt Ltd are the book running lead managers and Link Intime India Pvt Ltd is the Registrar to the Vishnu Prakash IPO.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.

Vishnu Prakash R Punglia Ltd owns a fleet of about 484 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, the company said in a release.

The company’s revenue from operations increased from Rs. 485.73 crore in FY2021 to Rs. 785.61 crore in FY2022 and further to Rs. 1,168.40 crore in FY2023, showcasing a CAGR of 55.1%. Its net profit stood at Rs. 90.6 crore, whereas EBITDA margin stood at 13.7%.As on July 15, 2023, the company had an Order Book of Rs. 3,799.53 crore, it added.EndsRHP Link: https://choiceindia.com/assets/downloads/RHP.pdf