Jodhpur-based Vishnu Prakash R Punglia gets SEBI approval for IPO

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offer for sale (OFS) component. The offer also entails a subscription reservation by eligible employees. 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.

Also Read: SBFC Finance IPO: Issue subscribed 1.91 times on day 1; NII, retail portion sees huge demand The engineering, procurement and construction (EPC), 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.

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 Rs. 40.18 crore to Rs.

88.64 crore. Also Read: Jodhpur-based Vishnu Prakash R Punglia files DRHP with Sebi for 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. The equity shares are proposed to be listed on BSE and NSE.