Vishnu Prakash R Punglia shares list with 67% premium at ₹165 apiece on NSE
On BSE, Vishnu Prakash R Punglia shares were listed with 65% premium at ₹163.30 apiece.
PremiumVishnu Prakash IPO Listing: Vishnu Prakash R Punglia Ltd made a stellar debut on stock exchanges on Tuesday. Vishnu Prakash shares were listed at ₹165.00 per share on NSE, a robust premium of 66.66% to the issue price of ₹99 per share.
On BSE, Vishnu Prakash R Punglia shares were listed with 65% premium at ₹163.30 apiece.
However, soon after the listing, Vishnu Prakash share price declined over 10%.
The ₹308.88-crore initial public offering (IPO) of infrastructure company Vishnu Prakash R Punglia Ltd received strong investor response during August 24 to August 28.
Vishnu Prakash IPO was subscribed 87.82 times in total. The public issue received 32.01 times subscription in the retail category and 171.69 times subscription in the Qualified Institutional Buyers’ (QIB) category. The Non-Institutional Investors (NII) category was booked 111.03 times.
Vishnu Prakash IPO total size was ₹308.88 crore, while the IPO price band was ₹94 to ₹99 per equity share. The IPO lot size was 150 shares.
The company proposes to utilise the proceeds from the issue for funding capital expenditure requirements for the purchase of equipment and machinery, funding the working capital requirements of the company and general corporate purposes.
At 10:15 am, Vishnu Prakash R Punglia shares were trading at ₹149.50 apiece, down 8.45% from its listing price on the BSE.
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