The EPC company is led by Promoter Vishnu Prakash Punglia, has a track record of successfully delivering infrastructure projects and a strong operational expertise. Cranes, tractors, excavators, loaders, dozers, pavers, ready-mix concrete plants, transportation vehicles and cranes are included in its fleet of more than 480.4 construction equipment assets. These resources are from some of the best vendors.
” We have developed a track record of successful completion of our projects having executed more than 85 projects till the date of this Red Herring Prospectus (RHP). As on July 15, 2023, we have 51 on-going projects forming part of our order book,” said the company.
The listed industry peers of the company are PNC Infratech Ltd, H.G. Infra Engineering Ltd, NCC Ltd, Rail Vikas Nigam Ltd, and ITD Cementation India Ltd.
“Our revenue from operations has grown at a CAGR of 55.10% from FY 2020-21 to FY 2022-23, with the help of our robust order book across different business segments and geographical regions. As on July 15, 2023, we have an order book of ₹3,799.5 crore,” stated the company in its RHP.
Revenue from operations for the company increased from ₹373.15 crore in FY 2019–20 to ₹785.61 crore in FY 2021–22 at a Compounded Annual Growth Rate (CAGR) of 45.10%, while profit for the year increased from ₹12.65 crore in FY 2019–20 to ₹44.85 crore in FY 2021–22 at a CAGR of 88.25%. From FY 2019–20 to FY 2021–22, EBITDA climbed at a CAGR of 45.10%, from ₹40.18 crore to ₹88.64 crore.
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Here are the 10 key things to know about Vishnu Prakash Punglia IPO:
Vishnu Prakash IPO date: Vishnu Prakash R Punglia Limited IPO will open for subscription on Thursday, 24 August, and close on Monday, 28 August.
Vishnu Prakash IPO price band: Vishnu Prakash Punglia IPO price band has been fixed in the range between ₹94 to ₹99 per equity share of face value of ₹10 each.
Vishnu Prakash IPO lot size: Vishnu Prakash Punglia IPO lot size is 150 equity shares and in multiples of 150 equity shares thereafter.
Anchor Investors: Vishnu Prakash R Punglia IPO raised ₹91.77 crore from anchor investors on Wednesday, August 23.
Vishnu Prakash IPO details: The ₹308.88 crore worth Vishnu Prakash IPO is entirely a fresh issue of up to 3.12 crore equity shares of face value of ₹10 each.
The offer also includes a reservation for a subscription by eligible employees. The company is offering an employee discount of ₹9 per share.
Vishnu Prakash Punglia IPO objectives: A total of ₹58.64 crore of the proceeds from its fresh issue would be utilised for capital equipment purchases, while ₹140 crore will be allocated to the company’s working capital needs and other corporate purposes.
Allotment and Listing of Vishnu Prakash IPO: The basis of allotment of shares will be finalised on Thursday, 31 August and the company will initiate refunds on Friday, 1 September, while the shares will be credited to the demat account of allottees on Monday, 4 September. Vishnu Prakash R Punglia limited share price will be listed on BSE and NSE on Tuesday, 5 September.
Lead Manager and Registrar of Vishnu Prakash IPO: The book running lead managers of the offer are Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited, while Link Intime India Private Limited is the registrar.
Vishnu Prakash IPO reservation: Vishnu Prakash R Punglia IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. Up to 3,00,000 equity shares are reserved for employees.
Vishnu Prakash IPO GMP today: Vishnu Prakash IPO GMP or grey market premium on Wednesday was +54 higher than the previous trading sessions. This indicates Vishnu Prakash share price were trading at a premium of ₹54 in the grey market on Wednesday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vishnu Prakash share price is ₹153 apiece, which is 54.55% higher than the IPO price of ₹99.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Updated: 23 Aug 2023, 10:09 PM IST