The IPO of Vishnu Prakash R Punglia Limited, opens on August 24 at price band at ₹94 to ₹99 per Equity share
MUMBAI, Aug 22 (The CONNECT) - Engineering, Procurement and Construction (EPC) company Vishnu Prakash R Punglia Limited, which focuses on water supply projects, has fixed the price band at ₹94 to ₹99 per Equity share for its maiden public offer that opens on August 24.
The public issue with a face value of ₹10 per Equity Share is entirely a fresh Issue of up to 31.2 million shares closes on August 28. Investors can bid for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter.
The Company can raise Rs 293.28 crore - Rs 308.88 crore at the lower and upper end of the price band, respectively.
Led by Promoter Vishnu Prakash Punglia, the 3-decade-old EPC company 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.
Its major activities include constructing, designing, building, implementing, operating, maintaining and developing water supply projects such as water treatment plants along with pumping stations and laying of pipelines. It also handles 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. It also undertakes operations and maintenance services.
The Company’s revenue from operations has increased from ₹485.73 crore in financial year ended March 31, 2021 to ₹785.61 crore in financial year ended March 31, 2022 and further to ₹1168.40 crore 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 was at 13.7%.
As on July 15, 2023, it had an Order Book of ₹3,799.53 crore.
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.