The anticipation surrounding the Vishnu Prakash R Punglia Limited IPO has reached its crescendo as the subscription window opens on Thursday, August 24. Based in Jodhpur, this company stands as an integrated Engineering, Procurement, and Construction (EPC) enterprise, specializing in transformative water supply projects.
Headed by the visionary Promoter Vishnu Prakash Punglia, the EPC company boasts an impressive track record of successfully executing infrastructure projects, underpinned by a robust operational prowess. With over 480.4 construction equipment assets at its disposal, encompassing cranes, tractors, excavators, loaders, dozers, pavers, ready-mix concrete plants, and transportation vehicles, this formidable fleet is sourced from esteemed vendors.
"We've established a strong track record of project success, having completed over 85 projects as of the Red Herring Prospectus (RHP) date. As of July 15, 2023, our ongoing projects tally stands at 51, firmly positioned within our order book," shared the company.
Notable peers in the listed industry include PNC Infratech Ltd, H.G. Infra Engineering Ltd, NCC Ltd, Rail Vikas Nigam Ltd, and ITD Cementation India Ltd.
Highlighting a compelling trajectory, the company's "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 of July 15, 2023, we have an order book of ₹3,799.5 crore," as articulated in the RHP.
Revenue from operations climbed from ₹373.15 crore in FY 2019–20 to ₹785.61 crore in FY 2021–22, reflecting a Compound Annual Growth Rate (CAGR) of 45.10%. Simultaneously, annual profit soared from ₹12.65 crore in FY 2019–20 to ₹44.85 crore in FY 2021–22, attaining a remarkable CAGR of 88.25%. During the same period, EBITDA scaled up with a CAGR of 45.10%, from ₹40.18 crore to ₹88.64 crore.
Here's a breakdown of 10 key facets to acquaint yourself with regarding the Vishnu Prakash Punglia IPO:
Vishnu Prakash IPO Date: The subscription window for the Vishnu Prakash R Punglia Limited IPO commences on Thursday, August 24, and concludes on Monday, August 28.
Vishnu Prakash IPO Price Band: The Vishnu Prakash Punglia IPO is priced within the range of ₹94 to ₹99 per equity share, each having a face value of ₹10.
Vishnu Prakash IPO Lot Size: The lot size for the Vishnu Prakash Punglia IPO is 150 equity shares, followed by multiples of 150 equity shares.
Anchor Investors: On Wednesday, August 23, the Vishnu Prakash R Punglia IPO garnered ₹91.77 crore from anchor investors.
Vishnu Prakash IPO Details: The IPO, valued at ₹308.88 crore, solely comprises a fresh issue of up to 3.12 crore equity shares, each bearing a face value of ₹10.
Employee Reservation: The IPO includes a reserved portion for subscription by eligible employees, with an enticing employee discount of ₹9 per share.
Vishnu Prakash Punglia IPO Objectives: From the fresh issue proceeds, ₹58.64 crore is earmarked for capital equipment purchases, while ₹140 crore is allocated for working capital needs and other corporate purposes.
Allotment and Listing: Shares' allotment will be finalized on Thursday, August 31, and refunds will be initiated on Friday, September 1. Share credits to demat accounts will occur on Monday, September 4. Listing of Vishnu Prakash R Punglia Limited shares on BSE and NSE is scheduled for Tuesday, September 5.
Lead Managers and Registrar: Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited are the book running lead managers, with Link Intime India Private Limited serving as the registrar.
Vishnu Prakash IPO Reservation: Qualified Institutional Buyers (QIB) have access to not more than 50% of shares, while Non-Institutional Investors (NII) have at least 15% reserved. Additionally, up to 35% of the offer is earmarked for Retail Investors. Up to 3,00,000 equity shares are set aside for employees.
Vishnu Prakash IPO GMP: The grey market premium (GMP) for Vishnu Prakash IPO is a key topic of discussion. On Wednesday, the GMP was +54, signifying a premium of ₹54 in the grey market. Factoring in the upper end of the IPO price band and the current GMP, the projected listing price is ₹153, marking a 54.55% increase over the IPO price of ₹99.
The "grey market premium" signifies investors' willingness to pay a premium beyond the issue price, setting the stage for an exciting IPO journey.