Vishnu Prakash R Punglia Ltd IPO: Subscribed 65% in First Hour, Retail Portion Fully Booked

24 Aug 2023 , 11:14 AM

The initial public offering of Jodhpur-based infrastructure firm Vishnu Prakash R Punglia Limited commenced today, August 24th, and will conclude on August 28th. The company aims to sell its shares within the price range of Rs 94-99 per share, with a lot size of 150 equity shares and subsequent multiples. You can apply for the IPO by clicking here.

As of 11:00 AM, the IPO has already garnered a 65% subscription rate. Remarkably, the retail investors’ segment achieved full subscription within the first hour of opening, with bids placed for 1,13,27,250 equity shares, representing 1.01 times the available shares for subscription.

Non-Institutional Investors (NIIs) have subscribed to 70% of their allocated portion, while Qualified Institutional Buyers (QIBs) are yet to subscribe. The employees’ segment has witnessed a subscription rate of 26%.

Before the IPO launch, the company allocated 92.70 lakh shares to anchor investors at Rs 99 per share. Among the anchor investors are Quant Mutual Fund, Kotak Mahindra Life Insurance Company Ltd, Max Life Insurance Company Ltd, BNP Paribas, Copthall Mauritius Investment Ltd, Milky Investment and Trading Company, Societe Generale, and Minerva Emerging Opportunities Fund Ltd.

The raised funds from the IPO will be utilized for the procurement of capital equipment, meeting working capital requirements, and other general corporate purposes. Interested investors can bid for a minimum of 150 equity shares, with subsequent bids in multiples of 150 equity shares.

 

Open date	24 August 2023
Close date	28 August 2023
Lot size	150 Shares
IPO size (Rs crore)	Rs 308.88 Crore
IPO price range (Rs)	Rs 94-99
Minimum investment	Rs 14,850
Basis of allotment date	31 August 2023
Refunds date	1 September 2023
Credit to demat account date	4 September 2023
Listing date	5 September 2023