Infrastructure (EPC) projects company Vishnu Prakash R Punglia Ltd is launching its IPO from August 24 to August 28, with an equity share price range of ₹94 to ₹99. The anchor investor auction starts on August 23. Investors can bid for a minimum of 150 equity shares and in multiples of 150 thereafter, with a face value of ₹10 per share.
The IPO allocation includes up to 50% for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Investors, with 3,00,000 equity shares set aside for employees.
The allotment of shares will be finalized by August 31, refunds will be initiated on September 1, and shares will be credited to allottees’ demat accounts by September 4. Trading of Vishnu Prakash R Punglia Ltd shares on BSE and NSE is expected to begin on September 5.
This IPO consists entirely of a fresh issue of up to 31.20 million shares, with no offer for sale (OFS) component. The company plans to utilize ₹58.64 crore of the proceeds for capital equipment purchases and allocate ₹140 crore for working capital needs and other corporate purposes.