Vishnu Prakash R Punglia is into Infrastructure Integrated Engineering, Procurement and Construction and is looking raise funds through Fresh Issue
Vishnu Prakash R Punglia IPO Update:
Vishnu Prakash R Punglia Limited IPO: Jodhpur based Vishnu Prakash R Punglia Limited established in the year 2013 and is into Infrastructure - Integrated Engineering, Procurement and Construction sector.
Company is promoted by Vishnu Prakash Punglia, Manohar Lal Punglia, Sanjay Kumar Punglia, Kamal Kishor Pungalia and Ajay Pungalia. Pre-Offer Promoter and Promoter group stake in the company is 90.45%.
Vishnu Prakash R Punglia Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 309 Crores calculated on upper price band (face value of INR 10 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue of up to 31,200,000 Equity Shares. Choice Capital Advisors, Pantomath Capital Advisors have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 94 to Rs 99 with lot size of 150 shares and in multiples thereof. Objects of the issue is 1) To purchase Capital Equipment amounting to Rs. 58.64 crores, 2) Funding the working capital requirements amounting to Rs.140 crores, and 3) General corporate purposes.
IPO Dates:
IPO will open on August 24, 2023 and close on August 24, 2023. Tentative date of listing on stock exchanges is September 05, 2023
About Industry:
The Infrastructure sector acts as a catalyst for India’s economic growth as it drives the growth of the allied sectors like townships, housing, built-up infrastructure and construction development projects. In order to become a US$ 5 trillion economy by 2025, infrastructure development is the need of the hour. Government schemes such as National Infrastructure Pipeline (NIP), Jal Jeevan Mission (JJM) and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 would need massive infrastructure development.
Want to know more details about the IPO, please visit here Vishnu Prakash R Punglia Limited
Source: SEBI, BSE, NSE, DRHP, Vishnu Prakash R Punglia, Industry Data
Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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