Vishnu Prakash IPO available for subscription from today. Check details - Hindustan Times

Vishnu Prakash IPO available for subscription from today. Check details

By, New Delhi
Aug 24, 2023 12:52 PM IST

The ₹308.88 crore public offer is open for subscription till August 28.

The initial public offering (IPO) of Vishnu Prakash R Punglia Limited (VPRPL) opened on Thursday, and will be available for subscription till August 28.

Representational Image
Representational Image

VPRPL is a Jodhpur-based infrastructure firm that was established in 1986. According to its website, it is one of India's ‘fastest-growing infrastructure development companies.’

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Here is all you need to know about the Vishnu Prakash IPO:

Subscription: As per HT's sister publication Mint, by 10:48am on day 1 of bidding, the book build issue had been subscribed 0.48 times, and its retail portion, 0.71 times. The NII (non-institutional investor) portion, on the other hand, had been subscribed 0.58 times in this time.

Important Dates: The IPO opens and closes on August 24 and 28, respectively. The tentative date for the allocation of shares is August 31, while these are likely to be listed at the stock exchanges on September 5.

Issue size and share price: Vishnu Prakash aims to raise 309 crore ( 308.88 crore) from this offer. The price band, meanwhile, has been fixed at 94 to 99 per equity share.

Lot size and investment limit: The bidding will be done in lots, with each lot comprising of 150 of the infrastructure development firm's shares. To apply for the IPO, a retail investor will, therefore, require at least 14,850 ( 99*150).

Registrar: Link Intime India has been appointed as the public issue's official registrar.

To apply or not? Yes, according to both Reliance Securities and Sushil Finance. They share their views with Mint here.

(Disclaimer: The views and recommendations made in the Mint report are those of individual analysts or broking companies, and not of Hindustan Times. We advise investors to check with certified experts before taking any investment decisions)

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