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Business News/ Markets / Ipo/  V R Infraspace IPO: Price band, issue size, GMP, key details to know
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V R Infraspace IPO: Price band, issue size, GMP, key details to know

V R Infraspace IPO price band set at ₹85 apiece, with a lot size of 1,600 shares. The IPO opens on March 4 and closes on March 6. Company specializes in residential and commercial developments in Vadodara, Gujarat.

V R Infraspace IPO price band has been set at ₹85 apiece of face value of ₹10 each. (https://vrinfraspace.in/)Premium
V R Infraspace IPO price band has been set at 85 apiece of face value of 10 each. (https://vrinfraspace.in/)

V R Infraspace IPO price band has been set at 85 apiece of face value of 10 each. V R Infraspace IPO will open for subscription on Monday, March 4, and close on Wednesday, March 6. V R Infraspace IPO lot size consists of 1,600 shares. Investors can bid for a minimum of 1,600 shares and in multiples thereof. The issue price is 8.50 times of the face value.

V R Infraspace Limited is a construction and real estate development business based in and around Vadodara, Gujarat, that specialises in building and developing residential and commercial developments.

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Also Read: IPO and FPO issuance could reach 4-5% of India's market cap, says Jefferies; lists 3 key reasons

The company has launched initiatives for both middle-class and upper-class consumers. The portfolio of residential apartments offered by the firm includes a range of sizes and types of accommodations. The company's focus has been on creating luxurious yet reasonably priced residential real estate.

The residential buildings of the company are constructed with various features including play grounds, sports and recreational facilities, security systems, and backup electricity.

As per the red herring prospectus (RHP), the company's listed peers are Samor Reality (with a P/E of 135.23), and Laxmi Goldorna House Ltd (with a P/E of 343.68).

Between March 31, 2022, and March 31, 2023, V R Infraspace Limited's profit after tax (PAT) climbed by 229.16% while its revenue rose by 35.16%.

Also Read: GPT Healthcare share price dips after strong listing. Buy, sell or hold?

V R Infraspace IPO details 

V R Infraspace IPO, which is worth 20.40 crore, comprises a fresh issue of 2,400,000 equity shares with a face value of 10. This is a completely a fresh issue, and there is no offer-for-sale component.

The net proceeds from the fresh offering will be used for the following purposes: meeting working capital requirements, funding the subsidiary M/s Narnarayan Enterprise, covering issue expenses, and general corporate purposes.

The registrar for the V R Infraspace IPO is Link Intime India Private Ltd, and the book running lead manager of the offering is Beeline Capital Advisors Pvt Ltd. Spread X Securities is the market maker for the V R Infraspace IPO. 

Also Read: Owais Metal and Mineral Processing IPO allotment to be out soon; GMP, steps to check Owais Metal IPO allotment status

V R Infraspace IPO GMP today 

V R Infraspace IPO GMP or grey market premium was 0, which meant shares were trading at their issue price of 85 with no premium or discount in the grey market according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: JG Chemicals IPO: Price band set at 210-221 per share; check issue details, key dates, more

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 29 Feb 2024, 02:33 PM IST
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