Aug 23, 2023
By: Sourabh Jain
Credit: Vishnu Prakash R Punglia
Jodhpur-based Vishnu Prakash R Punglia is all set to begin its initial public offering (IPO) from August 24.
Credit: Vishnu Prakash R Punglia
The IPO will open on August 24 and close on August 28.
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Vishnu Prakash R Punglia has fixed a price band of ₹94-₹99 per share for its public issue.
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Vishnu Prakash R Punglia is looking to raise ₹308.88 crore from the current IPO, which is a completely fresh issue.
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Investors can bid for a minimum of 150 shares and in multiples of 150 shares thereafter.
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Vishnu Prakash R Punglia is an integrated engineering, procurement and construction (EPC) company, which specialises in water supply projects.
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As of March 31, 2023, Vishnu Prakash R Punglia owns a fleet of 484 construction equipment assets. It operates in nine states and one union territory across the country.
Credit: Vishnu Prakash R Punglia
The company’s income was ₹1,168 crore in FY23, up from ₹725 crore in FY22. The company had a restated net profit of ₹90.6 crore in FY23, up from ₹44.8 crore in FY22.
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The company's business is concentrated in Rajasthan, and orders in the state constitute 61.5 percent of its order book. Any adverse impact in the region can impact its business and financial condition.
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Its projects are exposed to various implementation and other risks, including risks of time and cost overruns, and uncertainties. They are also dependent on their subcontractors, which exposes them to risks like their availability and performance.
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