Vishnu Prakash R Punglia IPO
Vishnu Prakash R Punglia IPO — date, price band, lot size & details 2023
Vishnu Prakash R Punglia listed on 5 Sep 2023 at ₹165, 66.7% above the ₹99 issue price.
Vishnu Prakash R Punglia designs and builds water supply, railway, road and irrigation projects for central and state governments across 9 states and 1 union territory. Its total income was Rs 1,171.46 crore in FY2023.
Stock price
Vishnu Prakash R Punglia is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 24 Aug 2023
- Close 28 Aug 2023
- Allotment 31 Aug 2023
- Refund/credit 01 Sep 2023
- Listing 05 Sep 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 24 to 28 Aug, 2023 |
|---|---|
| Price Band | ₹94 – ₹99 |
| Face Value | ₹10 |
| Lot Size | 150 Shares |
| Issue Size | ₹308.61 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 9.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,850 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 150 shares at the ₹99 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 150 | ₹14,850 |
| Retail (max) | 13 | 1,950 | ₹1,93,050 |
| S-HNI (min) | 14 | 2,100 | ₹2,07,900 |
| S-HNI (max) | 67 | 10,050 | ₹9,94,950 |
| B-HNI (min) | 68 | 10,200 | ₹10,09,800 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 487.67 crore in FY2021 to Rs 1,171.46 crore in FY2023.
- 02Profit after tax rose from Rs 18.98 crore in FY2021 to Rs 90.64 crore in FY2023.
- 03The pre-issue P/E was 10.21 at the upper band of Rs 99, based on EPS of Rs 9.70.
- 04The whole Rs 308.61 crore issue was fresh capital for working capital and machinery.
- 05The source puts return on net worth at 38.31%.
Risks · 5
- 01As of 15 July 2023, 61.54% of its pending order book was in Rajasthan.
- 02Most work is for government bodies, so payment delays and budget cuts can hurt cash flow. The source puts debt to equity at 0.80.
- 03Total borrowing rose from Rs 110.78 crore on 31 March 2021 to Rs 250.37 crore on 31 March 2023.
- 04Contracts are won by bidding, and margins are thin, with the source putting the PAT margin at 7.74%.
- 05Promoters and the promoter group held 90.45% before the issue and about 67.82% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Vishnu Prakash R Punglia offer document.
| Metric | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 825.48 | 497.81 | 331.05 |
| Total Income | 1,171.46 | 787.39 | 487.67 |
| Profit After Tax | 90.64 | 44.85 | 18.98 |
| NET Worth | 314.51 | 158.69 | 113.61 |
| Total Borrowing | 250.37 | 176.58 | 110.78 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Vishnu Prakash R Punglia RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Vishnu Prakash R Punglia IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹9.70 | ₹7.27 |
| P/E Ratio (x) | 10.21 | 13.62 |
| Market Cap at Offer Price (₹ Cr) | ₹925.09 | ₹1,234.30 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹99 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹279.63 Cr of the issue is earmarked to named objects.
About the company
Its work falls into four groups: water supply projects, railway projects, road projects and irrigation network projects. It holds contractor registrations with bodies such as the Jodhpur Development Authority, Rajasthan PHED, Rajasthan Water Resources Department and Military Engineering Services.
It began in Rajasthan and later expanded to states such as Uttar Pradesh, Uttarakhand, Madhya Pradesh, Gujarat, Haryana, Assam, Manipur and Maharashtra, with ongoing projects in 9 states and 1 union territory.
The IPO was Rs 308.61 crore and was entirely fresh issue. Rs 150.00 crore was planned for working capital and Rs 62.18 crore for equipment and machinery.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Vishnu Prakash R Punglia IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Choice Capital Advisors Pvt.Ltd.
11 issues handled (8 mainboard, 3 SME)Best listing: Adroit Industries (India) (+75.4%). Weakest: Sonaselection India (+3.3%).
Pantomath Capital Advisors Pvt Ltd
19 issues handledBest listing: Aeroflex Industries (+75.9%). Weakest: Glottis (-34.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Vishnu Prakash R Punglia?
The current Grey Market Premium is ₹55, or 56% over the issue price.
What is the Vishnu Prakash R Punglia IPO price band?
₹94 to ₹99, on a face value of ₹10.
When is the allotment?
The basis of allotment is 31 August 2023, with listing on 5 September 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
