Jodhpur-based Vishnu Prakash R Punglia Limited an integrated Engineering, Procurement and Construction ("EPC") company, which specializes in water supply projects (WSP), has garnered Rs91.77 crore from anchor investors ahead of its initial public offering that opens for public subscription on Thursday, August 24, 2023. The company informed the bourses that it allocated 92,70,000 shares at Rs. 99 per share on Wednesday, August 23, 2023, to anchor investors.
Foreign Investors and Domestic Institutions who participated in the anchor were Quant Mutual Fund, Kotak Mahindra Life Insurance Company Ltd, Max Life Insurance Company Limited, BNP Paribas, Copthall Mauritius Investment Limited, Milky Investment and Trading Company, Societe Generale and Minerva Emerging Opportunities Fund Limited.
Out of the total allocation of 92,70,000 equity shares to the anchor investors, 25,05,000 equity shares were allocated to 1 domestic mutual fund through a total of 5 schemes amounting to Rs 24.80 crore i.e. 27.03% of the Total Anchor Book Size.
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 for the issue.
The public issue with a face value of Rs 10 per equity share is entirely a fresh issue of shares of up 31.20 million equity shares. The Issue also includes a reservation for a subscription by eligible employees of the company.
The Company is proposing to open its initial public offering of Equity Shares (the "Issue") on Thursday, August 24, 2023, and closes on Monday, August 28, 2023. The price band for the Issue has been determined at Rs 94 - Rs 99 per equity share.
The IPO will fetch Rs 308.88 crore at the upper end of the price band. Investors can bid for a minimum of 150 equity shares and in multiples of 150 equity shares thereafter.
The Issue is being made through the Book Building Process, wherein not more than 50% of the Issue shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Issue shall be available for allocation to Non-Institutional Investors and not less than 35% of the Issue shall be available for allocation to Retail Individual Investors.