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 ₹94 to ₹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 ₹10 per Equity Share is entirely a Fresh Issue of up to 31.2 million shares. The offer also includes a reservation for a subscription by eligible employees.
The Company through its IPO will fetch Rs 293.28 crore - Rs 308.88 crore at the lower and upper end of the price band.
Led by Promoter Vishnu Prakash Punglia, the EPC 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 eighty-four 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 ₹485.73 crore in financial year ended March 31, 2021 to ₹785.61 crore in financial year ended March 31, 2022 and further to ₹1168.40 crore 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%.
As on July 15, 2023, it has an Order Book of ₹3,799.53 crore.
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.