Issue Subscribed By 87.89 Times
The QIB Portion was the most subscribed with 171.69 times, followed by HNI- 111.02 times & Retail 31.99 times
MUMBAI, Aug 30 (The CONNECT) – The Initial Public Offering of Jodhpur-based EPC major Vishnu Prakash R Punglia Limited will be listed on the bourses on September 5 after evoking a resounding subscriptions of 87.8x
The issue received bids of 1,92,54,55,350 shares against the offered 2,19,30,000 equity shares, at a price band of ₹94-99, according to the data available on the stock exchanges.
Qualified Institutional Buyer Portion was the most subscribed with 171.69 times, followed by Non-Institutional Investors Portion with 111.02 times. Retail Portion was subscribed 31.99 times, whereas Employee Portion was subscribed 12.96 times.
Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited are the book-running lead managers. Company’s equity shares are proposed to be listed on the BSE and NSE.
Led by Promoter Vishnu Prakash Punglia, the company commands 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 including 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). It also undertakes operations and maintenance services.
The Company’s revenue from operations has increased from ₹4,857.31 million 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%.
