V R Infraspace IPO price band has been set at ₹85 apiece of face value of ₹10 each. V R Infraspace IPO will open for subscription on Monday, March 4, and close on Wednesday, March 6. V R Infraspace IPO lot size consists of 1,600 shares. Investors can bid for a minimum of 1,600 shares and in multiples thereof. The issue price is 8.50 times of the face value.
V R Infraspace Limited is a construction and real estate development business based in and around Vadodara, Gujarat, that specialises in building and developing residential and commercial developments.
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The company has launched initiatives for both middle-class and upper-class consumers. The portfolio of residential apartments offered by the firm includes a range of sizes and types of accommodations. The company’s focus has been on creating luxurious yet reasonably priced residential real estate.
The residential buildings of the company are constructed with various features including play grounds, sports and recreational facilities, security systems, and backup electricity.
As per the red herring prospectus (RHP), the company’s listed peers are Samor Reality (with a P/E of 135.23), and Laxmi Goldorna House Ltd (with a P/E of 343.68).
Between March 31, 2022, and March 31, 2023, V R Infraspace Limited’s profit after tax (PAT) climbed by 229.16% while its revenue rose by 35.16%.
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V R Infraspace IPO details
V R Infraspace IPO, which is worth ₹20.40 crore, comprises a fresh issue of 2,400,000 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.
The net proceeds from the fresh offering will be used for the following purposes: meeting working capital requirements, funding the subsidiary M/s Narnarayan Enterprise, covering issue expenses, and general corporate purposes.
The registrar for the V R Infraspace IPO is Link Intime India Private Ltd, and the book running lead manager of the offering is Beeline Capital Advisors Pvt Ltd. Spread X Securities is the market maker for the V R Infraspace IPO.
V R Infraspace IPO GMP today
V R Infraspace IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹85 with no premium or discount in the grey market according to investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 29 Feb 2024, 02:33 PM IST