Vision Infra Equipment Solutions IPO booked 66.73x on Day 3 so far; check GMP, subscription status, other key details

Vision Infra Equipment Solutions' initial public offering (IPO) subscription period commenced on Friday, September 6 and will conclude on Tuesday, September 10. The prices for the Vision Infra Equipment Solutions IPO fall within the range of ₹155-163 per share, with a face value of ₹10. There are multiple shares available, and a minimum of 800 shares are open for bidding.

Established in 2015, Vision Infra Equipment Solutions offers services related to airports, smart cities, irrigation, structures and industries, mining, railroads, etc.

Road construction equipment rental, exchange, and reconditioning are all included in the company's service offering. Two methods of pricing are available for renting out road construction equipment: time-based pricing and output-based pricing. The time-based pricing approach imposes a predetermined cost on clients, who pay for the equipment according to how it is used or for how long. On the other hand, under output-based pricing, the client pays for the service according to the results or outcomes that the service produces.

According to the red herring prospectus (RHP), the company mentioned that there are no Indian listed companies involved in a business similar to theirs, so it's not feasible to make an industry comparison for their company.

The Vision Infra Equipment Solutions IPO is expected to allocate shares on Wednesday, September 11, and the shares will be added to the demat accounts of the allottees on Thursday, September 12. The IPO is divided into 50% for QIB, 35% for retail investors, and 15% for the NII segment.

Retail investors must invest a minimum of ₹1.304 lakh, based on the minimum lot size of 800 shares for an application. For HNIs, the minimum bidding size is two lots, equivalent to 1600 shares, with a total investment of ₹2.608 lakh at the upper price band.

Vision Infra Equipment Solutions reported a total revenue of ₹349 crore and a PAT of ₹26.68 crore for FY 24.

Vision Infra Equipment Solutions IPO subscription status

Vision Infra Equipment Solutions IPO subscription status is 66.73 times, on day 3, so far.

The retail portion was subscribed 21.33 times, and NII portion was booked 180.36 times. Qualified Institutions Buyers is booked 60.94 times.

The company has received bids for 28,86,88,800 shares against 43,26,400 shares on offer, at 16:13 IST, according to data on chittorgarh.com

Vision Infra Equipment Solutions IPO subscription status was 2.08 times, on day 1, and the issue was booked 3.10 times on second bidding day.

Vision Infra Equipment Solutions IPO details

Vision Infra Equipment Solutions IPO, valued ₹106.21 crore, includes a fresh issuance of 6,516,000 equity shares with a face value of ₹10. There is no "offer for sale" component.

The funds raised from the offering will be used to support the following purposes: financing the acquisition of extra equipment for capital expenditures, meeting working capital needs, and general corporate use.

Hem Securities Limited serves as the book running lead manager for the Vision Infra Equipment Solutions IPO, with Link Intime India Private Ltd acting as the registrar for the issue. Hem Finlease is designated as the market maker for the Vision Infra Equipment Solutions IPO.

Vision Infra Equipment Solutions IPO GMP today

Vision Infra Equipment Solutions IPO GMP is +70. This indicates Vision Infra Equipment Solutions share price were trading at a premium of ₹70 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vision Infra Equipment Solutions share price was indicated at ₹233 apiece, which is 42.94% higher than the IPO price of ₹163.

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

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