Vishnu Prakash R Punglia IPO Opens Today On 24 August Know Price Band To Other Details

Vishnu Prakash R Punglia IPO: If you are thinking about earning money through IPO, then this news is of your use. The IPO of Vishnu Prakash R Pangulia, a company engaged in the construction and design of infra projects, has opened for retail investors today. If you are also thinking of investing in it, then you have a chance till 28 August 2023. Through this IPO, the company has issued 100 percent fresh shares. We are giving you information about its size, price band and other details.

Know about the details of Vishnu Prakash R Punglia IPO-

Vishnu Prakash R Punglia is trying to collect a total of Rs 308.88 crore through this IPO. The company has fixed the price band of IPO shares between Rs 94 to Rs 99 per share. To invest money in this IPO, it is necessary for investors to buy a lot of at least 150 shares. The company has kept a discount of Rs 9 per share in the price bank for its employees. The company has reserved 35 per cent for retail investors, 50 per cent for qualified institutional investors (QIB) and 15 per cent for non-institutional investors in this IPO. The company will allot shares on August 31, 2023, and on September 5, the listing of shares will be done on the Bombay Stock Exchange and the National Stock Exchange.

Raised this much amount from anchor investors

The company has raised a total of Rs 91.77 crore through anchor investors on Wednesday before the IPO opens for retail investors on Thursday. A total of 92.7 lakh shares have been issued to these investors at Rs 99 per share.

Know about the company-

Vishnu Prakash R Punglia works for the construction and design of many different infra projects for the Central Government and State Government. Apart from this, it also designs for other companies. It is worth noting that the name of this company is spread over 9 states and one union territory of the country. On the other hand, talking about the performance of the company, it is continuously running in profit. The company had a profit of Rs 18.98 crore in FY 2021. At the same time, in the financial year 2022, it increased to Rs 44.85 crore. While talking about this year’s profit, it has reached Rs 90.64 crore. In such a situation, the performance of the company has been excellent in the last three years.