Pratham EPC Projects IPO booked 94x on final day; AVP Infracon issue subscribed 43% so far on Day 1
issue received bids for 22 lakh shares as against 51 lakh shares on offer.
The IPO is entirely a fresh equity issue of 69.8 lakh shares and through the issue, the company aims to raise Rs 52 crore.
The company is offering its shares at Rs 71-75 apiece, and investors can bid for 1,600 shares in 1 lot.
The net proceeds from the public offer will be used for funding capital expenditure, working capital requirements, and general corporate purposes.
AVP Infracon is involved in the construction of road projects based on bill of quantities (BOQ) and engineering, procurement, and construction (EPC) methods. Its core competence includes constructing, building, altering, acquiring among others all types of infrastructure developmental works, constructions works for high value projects like express ways, national highways etc.,
Also Read: AVP Infracon IPO: Check issue size, price band, GMP and other details
For the period ended September 2023, the company clocked revenues of Rs 74 crore and net profit of Rs 8.55 crore.
Share India Capital is acting as the lead manager to the issue and Purva Sharegistry is the registrar.
Meanwhile, the issue of Pratham EPC Projects was booked 94 times on the third day of bidding. The IPO, which is entirely a fresh equity issue of 48 lakh shares, closes today.
The company has priced the IPO in the range of Rs 71-75 apiece, and investors can bid for 1,600 shares in 1 lot.
Funds raised from the IPO will be used for purchase of machinery, meet working capital requirements and other
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