In a remarkable show of investor enthusiasm, the initial public offering (IPO) of Vishnu Prakash R Punglia Limited has garnered exceptional traction. As the subscription period for the Vishnu Prakash IPO draws to a close on August 28, the response from investors has been overwhelmingly positive. The IPO bidding phase, which commenced on August 24, saw rapid and complete subscription within a matter of hours.
With the final day of subscription upon us, attention now turns to the Grey Market Premium (GMP) and allocation details. For comprehensive insights into the Vishnu Prakash IPO, including subscription status and other pivotal information, read on:
Vishnu Prakash IPO Subscription Status
As of August 28, Monday, the third and concluding day of the IPO bidding process, the Vishnu Prakash R Punglia IPO has garnered a substantial subscription rate of 87.80 times. Investor interest has driven bids for 129.55 crore equity shares, compared to the 2.19 crore shares on offer, until 17:09 IST.
Segment-wise, the IPO has seen robust subscription rates, with the retail category reaching 31.99 times and the Non-Institutional Investors’ (NII) category achieving an impressive 111.02 times subscription. The quota reserved for Qualified Institutional Buyers (QIBs) has been oversubscribed by a substantial factor of 171.69 times.
Vishnu Prakash IPO Grey Market Premium Today
The Grey Market Premium (GMP) for the Vishnu Prakash IPO today, as reported by IPOWatch, stands at ₹55 per share. This implies that the IPO shares are trading at a premium of ₹55 each in the grey market on this day.
Factoring in the current GMP and the upper limit of the IPO price band, market observers speculate that the listing price for Vishnu Prakash IPO could be around ₹154 per share, signifying a premium of 55.55% over the issue price.
Key Details of Vishnu Prakash IPO
The IPO of Vishnu Prakash R Punglia Ltd, valued at ₹308.88 crores, concludes today. The IPO price band is set at ₹94 to ₹99 per equity share, with a lot size of 150 shares. Retail investors can participate with a minimum investment of ₹14,850.
The anticipated timeline for the IPO allotment is August 31, while initial refunds are projected to be initiated on September 1. Eligible allottees can expect the crediting of shares to their demat accounts by September 4.
The listing of the IPO is planned on both the BSE and NSE, with September 5, 2023, emerging as the probable listing date.
The book-running lead managers for the IPO are Choice Capital Advisors Pvt Ltd and Pantomath Capital Advisors Pvt Ltd. Meanwhile, Link Intime India Private Ltd has been designated as the official registrar of the IPO.
Insight into Vishnu Prakash R Punglia Ltd IPO
Vishnu Prakash R Punglia Ltd. operates as an integrated engineering, procurement, and construction (EPC) enterprise, serving diverse entities including Central and State Governments, autonomous bodies, and private entities across nine Indian States and a Union Territory.
The company’s operational focus encompasses four primary domains: Water Supply Projects (WSP), Railway Projects, Road Projects, and Irrigation Network Projects.
Numerous brokerage firms have bestowed a “Subscribe” rating on the Vishnu Prakash IPO due to its prudent valuations, robust order book, and optimistic outlook on the infrastructure sector at large.
According to Nirmal Bang, a brokerage firm, the company’s distinct emphasis on WSP (Water Supply Projects), combined with its record of substantial growth, margin expansion, and reasonable valuations, positions it favorably compared to listed peers. With a promising trajectory in water-related projects, railways, and roads, the IPO offers investors an opportunity for significant growth coupled with favorable profitability.
Considering these factors, the brokerage recommends subscribing to the Vishnu Prakash IPO.
About Vishnu Prakash:
Vishnu Prakash R Punglia stands as an all-inclusive engineering, procurement, and construction (EPC) enterprise. It holds a wealth of expertise in the planning and execution of diverse infrastructure ventures, catering to both central and state government projects, as well as other independent entities.
For more of the Latest News, Click Here
