Active Stocks
Fri Dec 01 2023 15:59:55
  1. Tata Steel share price
  2. 129.95 1.56%
  1. Reliance Industries share price
  2. 2,393.45 0.72%
  1. NTPC share price
  2. 269.05 2.97%
  1. ICICI Bank share price
  2. 946.35 1.19%
  1. HDFC Bank share price
  2. 1,555.5 -0.22%
Business News/ Markets / Ipo/  Vishnu Prakash R Punglia IPO: 91.77 crore raised from anchor investors
Back Back

Vishnu Prakash R Punglia IPO: ₹91.77 crore raised from anchor investors

The Jodhpur-based company allocated 92.70 lakh shares at ₹99 per share to anchor investors

The company has fixed the price band for the IPO at ₹94–99 per equity share. Photo: iStockPremium
The company has fixed the price band for the IPO at 94–99 per equity share. Photo: iStock

Ahead of the public issue, an engineering, procurement and construction (EPC) company Vishnu Prakash R Punglia Ltd has raised  91.77 crore from anchor investors on Wednesday.

Its initial public offering (IPO) will open for public subscription on Thursday, August 24, 2023. The issue will close on Monday, August 28, 2023.

The Jodhpur-based company allocated 92.70 lakh shares at 99 per share to anchor investors, Vishnu Prakash R Punglia said in an exchange filing. 

Out of the total allocation of 92.70 lakh equity shares to the anchor investors 25.05 lakh equity shares were allocated to one domestic mutual fund through five schemes amounting to 24.80 crore i.e. 27.03% of the total anchor book size, said the company.

Investors who participated in the anchor allocation were Quant Mutual Fund, Kotak Mahindra Life Insurance Company Ltd, Max Life Insurance Company Ltd, BNP Paribas, Copthall Mauritius Investment Ltd, Milky Investment and Trading Company, Societe Generale and Minerva Emerging Opportunities Fund Ltd. 

Vishnu Prakash R Punglia said the public issue with a face value of 10 per equity share is entirely a fresh issue of shares of up 3.12 crore equity shares.

The company has fixed the price band for the IPO at 94–99 per equity share.

Through the IPO, Vishnu Prakash R Punglia aims to fetch 308.88 crore at the upper end of the price band.

Proceeds from the issue will be utilised for purchasing capital equipment, funding the working capital requirements and the balance for general corporate purposes.

Investors can bid for a minimum of 150 equity shares and in multiples of 150 equity shares thereafter.

The offer also includes a reservation for a subscription by eligible employees of the company.

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. 

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Catch all the Elections News, Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 23 Aug 2023, 08:57 PM IST
Next Story footLogo
Recommended For You

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App