The allotment for the initial public offer (IPO) of Vishnu Prakash R Punglia is likely to be finalised today. Investors can check their allotment status on the issue's registrar Link Intime's website as well as on BSE.
The ₹308.88-crore IPO was open for subscription between August 24 and August 28 at a price band of ₹94-99. The issue was entirely a fresh offering of up to 3.12 crore equity shares. The net proceeds from the issue will be utilised towards funding capital expenditure requirements for the purchase of equipment and machinery, the working capital requirements of the company and general corporate purposes.
The IPO of Vishnu Prakash R Punglia was subscribed to a stellar 87.82 times. The portion for qualified institutional bidders was booked 171.69 times, while the non-institutional investors' category was subscribed to 111.03 times. Meanwhile, the retail investors' quota was subscribed to 32.01 times.
The company is likely to be listed on the bourses on September 5.
Here's how you can check the allotment status
On BSE:
1) Go to the website.
2) Select ‘Equity’ and then from the dropdown, select the issue name (Vishnu Prakash R Punglia).
3) Enter your application number and PAN card number.
4) Click on the "Search" button.
In a similar way, you can also check on its registrar's website
1) Go to the website of Link Intime.
2) Click on ‘Company Selection’ and then select the IPO name (Vishnu Prakash R Punglia).
3) Now, enter your PAN, application number, DP / Client ID or account number / IFSC.
4) Click on ‘Search’.
The status will only appear after allotment if the details are entered correctly. The refund process will start on Friday, September 1, for individuals not given shares. Those allotted will receive their shares in their demat accounts on Monday, September 4.
Incorporated in 1986, Jodhpur-based Vishnu Prakash R Punglia is an ISO 9001:2015 certified integrated engineering, procurement, and construction (EPC) enterprise. It is engaged in the business of designing and constructing infrastructure projects for the central and state governments, autonomous bodies, and private bodies across nine states and one union territory in India. The company is mainly focused on water supply projects (WSPs) which constitute 78 percent of its outstanding order book. It is also present in projects related to railways, roads, and irrigation.
The company's topline has grown consistently for the past 3 years at a CAGR of 55 percent while EBITDA witnessed an 86 percent CAGR growth over FY21-23. Its EBITDA margins also improved from 9.3 percent in FY21 to 13.4 percent in FY23.
The company's net profit has doubled for FY23 to ₹90.6 crore from ₹44.8 crore in FY22, aided by solid execution and operational efficiency.
Most brokerages recommended subscribing to the stock on the back of a healthy order book, industry tailwinds, a track record of strong growth, and attractive valuations for the investors. However, dependency on government projects and increasing competition are some key challenges for the firm.
Vishnu Prakash IPO GMP today
Ahead of the listing, the company's shares in the grey market are trading at a premium of ₹60, indicating a strong listing for the issue. It has risen from ₹55 on August 29.
However, one must note that the grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.
