- By Vaamanaa Sethi
- Tue, 05 Sep 2023 10:41 AM (IST)
- Source:JND
Shares of Vishnu Prakash R Punglia has made its market debut at over 67% robust premium over its initial public offering (IPO) price at Rs 165 per piece on NSE in Tuesday’s trading session. The shares listed at Rs 163.3 at BSE, against the IPO price band of Rs 99.
Also read: Zerodha MF Files Draft Documents With SEBI To Launch Two New Schemes; Details Here
Its shares were commanding a premium of Rs 54 or around 54%in the unlisted market, ahead of its listing today.
The issue saw an overwhelming response from investors with an overall subscription of 87.8 times. According to analysts, as quoted by The Economic Times, the company is valued at a P/E of 13x with a market cap of Rs 1,234 crore post-issue of equity shares and a return on net worth of 38.3%.
Vishnu Prakash R Punglia is a construction company that is primarily engaged in infrastructure projects for the central and state governments.
Ahead of the IPO, the company raised nearly Rs 92 crore from anchor investors where Quant MF, Kotak Mahindra Life Insurance Company, and Max Life Insurance Company among others participated.
The company plans to utilise the net proceeds to purchase capital equipment, funding working capital requirements and other general corporate purposes. Choice Capital Advisors and Pantomath Capital Advisors acted as the book-running lead managers and Link Intime India was the Registrar to the offer.
It reported revenue from operations increased to Rs 1,168 crore in the financial year ended March 2023, showcasing a CAGR of 55.1% over FY21-FY23 The profit after tax for FY23 stood at Rs 90.6 crore, whereas the EBITDA margin was at 13.7%. As on July 15, 2023, it has an order book of Rs 3,799.53 crore.
