Vishnu Prakash R Punglia sets IPO price band of Rs 94-99 per share
Vishnu Prakash R Punglia, which will open for subscription on August 24 and close on August 28, has fixed IPO price band of Rs 94-99 per share. The company through its IPO will fetch Rs 309 crore at the upper end of the price band. Jodhpur-based Vishnu Prakash R Punglia is an integrated engineering, procurement and construction (EPC) company, which specialises in water supply projects.
It owns a fleet of about 484 construction equipment assets which includes crushers, excavators, loaders, dozers, paver machines, ready mix concrete plants, concrete mixtures, cranes, tractors and transportation vehicles from some of the leading suppliers. The company's major activities include constructing, designing, building, implementing, operating, maintaining and developing water supply projects including water treatment plants along with pumping stations and laying of pipelines for supply of water, as well as other projects such as roads, bridges, tunnels, warehouses among others. The IPO is entirely a fresh issue of up to 31.2 million shares.
The offer also includes a portion for eligible employees. Investors can bid for a minimum of 150 equity shares and in multiples thereafter. About 50% of the offer is set aside for qualified institutional buyers, 15% for non-institutional investors and 35% for retail investors.
The company’s revenue from operations has increased to Rs 1,168 crore in the financial year ended March 2023 showcasing a CAGR of 55.1% over FY21-FY23 The profit after tax for FY23 stood at Rs 90.6 crore, whereas EBITDA margin stood at 13.7%. As on July 15, 2023, it had an order book of Rs 3,799.53 crore. Choice Capital Advisors and Pantomath Capital Advisors are the book-running lead managers and Link Intime India is the
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