Vishnu Prakash Punglia IPO: Vishnu Prakash Punglia shares listed at 65% premium over IPO price on NSE and BSE amid flat domestic market. The share debuted at Rs 163.3 on the BSE, as compared to the issue price of Rs 99. Vishnu Prakash Punglia shares’ grey market premium gained 60% on Tuesday, commanding a premium of Rs 60 over upper end of the IPO price, implying a listing price of Rs 159 per share.
Vishnu Prakash Punglia IPO subscription data
Vishnu Prakash Punglia IPO opened for subscription on 24 August and the issue was fully subscribed 87.82 times on the last day of subscription, helped by overwhelming participation from institutional investors. The Qualified Institutional Buyers (QIBs) category was subscribed 171.69 times, the portion for non-institutional investors received 111.03 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 32.01 times. The employee portion was bid for 12.97 times. The public offer comprises a fresh issue of 3.12 crore shares. The infrastructure player has set the price band for the IPO at Rs 94-99 per equity share.
About Vishnu Prakash R Punglia
Vishnu Prakash R Punglia was incorporated in 1986 and the company is in the business of designing and constructing infrastructure projects for the Central and State Governments, autonomous bodies, and private bodies across 9 States and 1 Union territory in India. The company has design and engineering, procurement, project management and quality management teams along with a fleet of 499 construction equipment and vehicles. Its in-house teams deliver projects from design to completion which reduces dependency on third parties for key materials such as RMC, stone aggregates, bitumen and services such as design and engineering, transportation and logistics.