The initial public offering of engineering, procurement, and construction (EPC) firm Vishnu Prakash R Punglia Ltd was subscribed 3.77 times on the first day of subscription on Thursday. The Rs 308.88-crore public issue got bids for 8,27,14,500 shares against 2,19,30,000 shares on offer, as per data available with the NSE.
The portion for non-institutional investors subscribed 6.26 times while the quota for Retail Individual Investors (RIIs) received 4.88 times subscription. The category for Qualified Institutional Buyers (QIBs) was subscribed 5 per cent.
The IPO has a fresh issue aggregating up to 3,12,00,000 equity shares with no Offer for Sale (OFS) component.
The price range for the offer is Rs 94-99 per share.
Vishnu Prakash R Punglia on Wednesday said it has raised Rs 92 crore from anchor investors.
Proceeds from the fresh issuance will be utilised for purchasing capital equipment, funding the working capital requirements of the company, and the balance for general corporate purposes.
The Jodhpur-based company has experience in the design and construction of major infrastructure projects for the central and state governments, with ongoing projects in nine states.
Choice Capital Advisors and Pantomath Capital Advisors are the managers to the offer.
The equity shares are proposed to be listed on BSE and NSE.
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