Vishnu Prakash R Punglia, a player in the infrastructure sector, is gearing up for its upcoming Initial Public Offering (IPO).
The IPO window is set to open on August 24 and close on August 28, 2023.
While official subscription for the IPO is yet to start, the company’s IPO shares are already trading at a considerable premium in the gray market, crossing the 40% mark.
IPO Details
The IPO’s price band for Vishnu Prakash R Punglia is marked at Rs 94-99, boasting a premium of Rs 40 even before the IPO’s launch.
Impressively, the gray market premium (GMP) for the company’s shares has already soared to Rs 40.
This premium suggests a premium valuation of over 40%.
In the event that the upper price band of Rs 99 is allotted along with the maintained GMP of Rs 40, Vishnu Prakash R Punglia’s shares could debut at Rs 139.
The IPO’s total value stands at Rs 308.88 crore.
Listing and Allotment
Following the finalization of share allotments on August 31, 2023, Vishnu Prakash R Punglia’s shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 5.
Retail investors are eligible to invest in 1 to 13 lots, with each lot containing 150 shares. As per the IPO terms, investors must commit a minimum of Rs 14,850.
Vishnu Prakash R Punglia specializes in crafting and executing infrastructure projects for various entities, including the Central Government, State Governments, and private organizations.
The company’s upcoming IPO presents an opportunity for investors to be part of its growth story in the dynamic infrastructure sector.
