EPC firm Vishnu Prakash R Punglia files preliminary IPO papers with SEBI

15 Apr 2023 , 02:32 PM

Vishnu Prakash R Punglia Ltd, an engineering, procurement and construction firm based out at Jodhpur has filed draft papers for raising funds via initial public offer. As per DRHP, the IPO comprises fresh issue of 3.12 crore equity shares with no offer-for-sale (OFS) component.

The company will use net proceeds from the issue towards funding capital expenditure requirements for the acquisition of equipment and machineries. The firm also plans to use some amount for working capital requirements.

Vishnu Prakash R Punglia has an extensive experience in designing and constructing infrastructure projects for various entities, including the Central and State Governments, autonomous bodies, and private organizations, across nine States and one Union Territory in India. The company’s primary business operations are categorized into four main areas: Water Supply Projects (WSP), Railway Projects, Road Projects, and Irrigation Network Projects.

It has 51 projects ongoing aggregating to Rs 5,653.43 crore, of which Rs 1,816.81 crore worth of work has already been executed.

Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited are the book-running lead managers of the issue.