Vishnu Prakash R Punglia IPO: Check live subscription details

28 Aug 2023 , 03:56 PM

Vishnu Prakash R Punglia’s initial public offering (IPO) continued to witness strong investor interest across various categories on the third and final day of the book-building process, which occurred on Monday. As of now, the subscription rate for the IPO stands at an impressive 87.17 times.

Among the different investor categories, the non-institutional portion demonstrated an exceptional subscription at 110.65 times. Following closely were retail investors, subscribing at a rate of 30.90 times, and qualified institutional buyers at 171.68 times.

Vishnu Prakash R Punglia is a construction company primarily dedicated to executing infrastructure projects for both central and state governments. The company specializes in water supply projects and is benefiting from a range of government initiatives aimed at this sector.

The company’s equipment fleet comprises approximately 499 construction equipment and vehicles, as of March 2023. Additionally, the total gross block value of the company’s property, plant, and equipment stands at Rs 136 crore.

For this IPO, the company has set a price band of Rs 94-99 per share, with investors having the option to bid for a minimum of 150 shares in a single lot, and in multiples thereafter.

In terms of allocation, approximately 50% of the offering is earmarked for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.