Vishnusurya IPO listing: Stock debuts at 7.4% premium at ₹73 on NSE SME

Vishnusurya Projects IPO listed at 73 per share, 7.4% higher than issue price. Vishnusurya IPO GMP at +7, estimated listing price at 75 per share.

Dhanya Nagasundaram
First Published10 Oct 2023, 10:09 AM IST
Vishnusurya IPO lists on NSE SME today.
Vishnusurya IPO lists on NSE SME today.(Photo: Courtesy company website)

Vishnusurya listing date: Vishnusurya Projects and Infra Limited shares made a lukewarm debut on NSE SME today. On NSE SME, Vishnusurya Projects and Infra Limited share price today was listed at 73 per share, 7.4% higher than the issue price of 68.

Vishnusurya Projects IPO price band was set at 68 per equity share of face value of 10 each. Vishnusurya IPO lot size was 2000 equity shares and in multiples of 2000 equity shares thereafter. Vishnusurya Projects and Infra IPO opened for subscription on Friday, September 29, and closed on Thursday, October 5.

Vishnusurya Projects IPO details

Vishnusurya IPO, which is worth 49.98 crores, is completely a fresh issue of 7,350,000 equity share; there is no offer for sale (OFS) component. Bhavani Jayaprakash is the company's promoter.

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The company intends to use the net proceeds from the offering to pay for the following things: the company's working capital needs. General corporate purposes and the partial or whole repayment or prepayment of some existing borrowings obtained by the company.

The registrar for the Vishnusurya Projects and Infra IPO is Cameo Corporate Services Limited, while the book running lead manager is Khandwala Securities Limited. Nikunj Stock Brokers is the market maker for the Vishnusurya Projects and Infra IPO.

Also Read: Vishnusurya Projects IPO: Check subscription status on day 4, GMP, review, other details

The company mines uncut stones and uses crushing facilities and sand washing units to produce aggregates and manufacture sand. In addition to its mining operations, it also work on EPC Projects (building and infrastructure) in all major industries, including water, rail, transportation, resources, and institutional development.

The company is also engaged in buying, selling and providing integrated solutions for drones as a service for surveillance, mapping and surveying purposes, according to Red Herring Prospectus (RHP).

As per the RHP, the listed peers of the company are Rachana Infrastructure Ltd (with P/E of 80.90), Sonu Infratech Ltd (with P/E of 12.32), and AB Infrabuild Ltd (with P/E of 5.60).

Vishnusurya IPO GMP today

Vishnusurya Projects IPO GMP today or grey market premium is +7. This indicates Vishnusurya Projects share price were trading at a premium of 7 in the grey market on Tuesday, according to investorgain.com

Considering the upper end of the Vishnusurya IPO price band and the current premium in the grey market, the estimated listing price of Vishnusurya Projects share price is 75 apiece, which is 10.29% higher than the IPO price of 68.

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

Also Read: Vishnusurya IPO allotment declared. GMP, listing date, how to check allotment status online using PAN card

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First Published:10 Oct 2023, 10:09 AM IST
HomeMarketsIPOVishnusurya IPO listing: Stock debuts at 7.4% premium at ₹73 on NSE SME

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