Vishnu Prakash R Punglia Ltd’s IPO to open on August 24; price band at Rs 94 – 99 per Equity Share

Ahmedabad: Jodhpur-based Vishnu Prakash R Punglia Limited is an integrated Engineering, Procurement and Construction (“EPC”) company, which specializes in water supply projects (WSP) has fixed the price band at Rs 94 to Rs 99 per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Thursday, August 24, 2023, for subscription and closes on Monday, August 28, 2023. Investors can bid for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter.

The Public Issue of face value of Rs 10 per Equity Share is entirely a fresh issuance of equity shares up to 31,200,000.

Led by Promoter Vishnu Prakash Punglia, the EPC Company has a strong operational understanding with a consistent track record in carrying out infrastructure projects for over three decades. It owns a fleet of about four hundred and ninety-nine construction equipment assets which includes including crushers, excavators, loaders, dozers, paver machines, ready mix concrete plants, concrete mixtures, cranes, tractors and transportation vehicles from some of the leading suppliers.

Its major activities include constructing, designing, building, implementing, operating, maintaining and developing Water Supply Projects (WSPs) including Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for supply of water, as well as other projects such as Roads, Bridges, Tunnels, Warehouses, Buildings, Railway Buildings including platforms, stations, quarters, administrative buildings, Rail-Over-Bridges and Waste Water Treatment Plants (WWTPs). It also undertakes operations and maintenance services.

The Company’s revenue from operations has increased from Rs 4,857.31 million in financial year ended March 31, 2021 to Rs 7,856.13 million in financial year ended March 31, 2022 and further to Rs 11,684.04 million in financial year ended March 31, 2023 showcasing a CAGR of 55.1%, profit after tax stood at Rs 90.6 crore, whereas EBITDA margin stood at 13.7%.

Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited are the book running lead managers and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.