Vishnu Prakash R Pungalia IPO to open on August 24; sets price band at Rs 94-99

24 Aug 2023 , 06:49 AM

Vishnu Prakash R Punglia Ltd, headquartered in Jodhpur, is an engineering, procurement, and construction (EPC) company that is gearing up for its initial public offering (IPO) scheduled for August 24. The IPO subscription period is set to conclude on August 28.

Founded in 1986, Vishnu Prakash R Punglia is actively involved in the planning and construction of infrastructure projects for governmental bodies at the central and state levels, autonomous organizations, as well as private entities across 9 states and 1 union territory in India. The company has established the price range for its IPO shares at Rs 94 to Rs 99 per share.

Interested investors have the option to apply for a minimum of 150 shares, with multiples of this quantity forming a single lot. The IPO solely comprises a fresh issuance of 31,200,000 equity shares and does not include any component for an offer for sale. The total value of the IPO stands at Rs 308.88 Crore.

The company has scheduled the allotment of shares for August 31, with the shares of Vishnu Prakash R Punglia Ltd expected to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) starting from September 5.

Taking on the role of book running lead managers for the IPO are Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited, while Link Intime India Private Limited has been entrusted with the responsibilities of registrar.

Over the financial years from 2019-20 to 2021-22, the company’s revenue from operations experienced a significant surge, growing from Rs 373.15 crore to Rs 785.61 crore, marking a Compound Annual Growth Rate (CAGR) of 45.10%. In a similar trajectory, the company’s annual profit increased from Rs 12.65 crore to Rs 44.85 crore, showcasing a CAGR of 88.25% over the same period. The EBITDA figures also displayed positive growth, rising from Rs. 40.18 crore in FY 2019–20 to Rs. 88.64 crore in FY 2021–22, representing a CAGR of 45.10%.