Vishnu Prakash IPO opens today: GMP, Review and Application Insights
The highly anticipated IPO of Vishnu Prakash R Punglia Limited is now open for subscription, commencing today and extending until August 28, 2023. Renowned for its expertise in design and infrastructure construction, the company has determined a price band of ₹94 to ₹99 per equity share for the Vishnu Prakash IPO. This IPO has also generated considerable interest in the grey market, where shares are currently trading at a premium of ₹65 per equity share.
Key Details About the Vishnu Prakash IPO:
Vishnu Prakash IPO GMP Update:
Market analysts report that the grey market premium (GMP) for the Vishnu Prakash IPO is presently valued at ₹65.
Vishnu Prakash IPO Price Range:
The company has set the price band for the book build issue within the range of ₹94 to ₹99 per equity share.
Vishnu Prakash IPO Timeline:
The IPO is now available for public subscription, and investors have the opportunity to participate until August 28, 2023.
Vishnu Prakash IPO Fundraising Goal:
Vishnu Prakash R Punglia Limited aims to secure ₹308.88 crore through this initial offering.
Vishnu Prakash IPO Lot Size:
Interested bidders can apply in lots, with each lot comprising 150 company shares.
Vishnu Prakash Investment Limits for the IPO:
For retail investors, an application for one lot, encompassing 150 shares, necessitates a minimum investment of ₹14,850 (₹99 x 150).
Vishnu Prakash Allotment Date:
The anticipated date for the finalization of share allotment is August 31, 2023.
Vishnu Prakash IPO Registrar:
Link Intime India Private Ltd has been designated as the official registrar for the Vishnu Prakash IPO.
Vishnu Prakash Listing Date:
Vishnu Prakash R Punglia Limited is preparing for listing on both the BSE and NSE, with the likely IPO listing date set for September 5, 2023.
Also Read: Vishnu Prakash IPO Details | GMP, Date, Price, Review
Expert Evaluation of Vishnu Prakash IPO:
Reliance Securities has bestowed a ‘subscribe’ recommendation upon the Vishnu Prakash IPO. The firm underscores the IPO’s valuation at 10.2x P/E, 9x EV/EBITDA, and 1.2x EV/Sales based on FY23 financials. Vishnu Prakash R Punglia Limited has exhibited steady expansion in project size, positioning itself advantageously in the infrastructure sector. As a pivotal contributor to India’s economy, this sector is primed to offer substantial growth prospects. With the upcoming Union budget initiatives for 2023-24, the company stands to reap benefits from government schemes in areas such as infrastructure, waste management, and transportation. Given the diversified business segments, robust financial performance, potential for growth, and a solid order book, Reliance Securities confidently recommends subscribing to this issue.
About Vishnu Prakash:
Established in 1986, Vishnu Prakash R Punglia Limited specializes in designing and constructing infrastructure projects for various entities, including the Central and State Governments, autonomous bodies, and private organizations. Their operations span across 9 States and 1 Union territory in India.
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