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Vishnu Prakash R Punglia IPO: GMP, Price & Other details

Vishnu Prakash R Punglia IPO: Vishnu Prakash R Punglia IPO worth ₹308.88 crore comprises entirely of a fresh issue of shares. The promoters and early shareholders of the company have not made any offers for sale (OFS). It must be noted that while the fresh issue component injects new capital into the company, it also dilutes EPS and equity. On the other hand, the OFS is just a transfer of shares, so there is no new money injected and the equity is not diminished. The issue has been priced in the range of ₹94 to ₹99 per share, and the IPO allotment price will be determined after the book building of shares is finished during the IPO process.

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Key details of the Vishnu Prakash R Punglia IPO

The fresh issue component of the company IPO will involve the issuance of 3,12,00,000 shares (3.12 crore shares), which at the upper end of the price band of ₹99 would result in a new issue component value of ₹3.8.88 crore. There is no OFS portion in this instance. As a result, the total size of the company’s IPO will also include the issuance of 3,12,00,000 shares, which at the top of the price range of ₹99 would result in a total issue size of ₹308.88 crore. The fresh issue portion also represents the total issue size in the absence of OFS.

The issue opens for subscription on 24th August 2023 and closes for subscription on 28th August 2023 (both days inclusive). The basis of allotment will be finalized on 31st August 2023 and the refunds will be initiated on 01st September 2023. In addition, the demat credits are expected to happen on 04th September 2023 and the stock is scheduled to list on 05th September 2023 on the NSE and the BSE.

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 Vishnu Prakash R Punglia IPO Grey Market Price (GMP) 

The grey market price (GMP) trading typically begins 4-5 days before the opening of the IPO and lasts until the listing date. We already have GMP data for the previous three days for Vishnu Prakash R Punglia Ltd, which should provide a reasonable indication of the listing performance.

The GMP is impacted by 2 factors. First and foremost, the Nifty and Sensex levels as well as the general macro and IPO market conditions have a significant impact on the GMP. Second, because it reflects investor interest in the stock, the extent of the IPO’s subscription across the retail and QIB segments also has a significant impact on the GMP. Strong QIB subscription typically causes a rise in GMP.

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There is one small point to remember here. The GMP is not an official price point, just a popular informal price point. However, in most cases, it has been observed to be a good informal gauge of demand and supply for the IPO. Hence it does give a broad idea of how the listing is likely to be and how the post-listing performance of the stock would be.

GMP frequently serves as a reliable reflection of the true stock story. The GMP trend over time provides insights about which way the wind is blowing more so than the actual price does. Here is a brief GMP summary for the Vishnu Prakash R Punglia IPO for which the data is available.

DateGMP 
23-August-2023₹44
22-August-2023₹44
21-August-2023₹44
20-August-2023₹40
19-August-2023₹42

GMP (grey market price) is an important indicator, albeit informal, of likely listing price. One cannot take this price at face value However, the GMP tends to be quite dynamic and changes direction with the flow of news and events. Investors must note here that this is just an informal indication and has no official acceptance. The best thing one can do with the GMP is to observe the trend closely as that gives the best hints on listing status. Focus on the time series trend than on numbers.

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Brief background of Vishnu Prakash R Punglia Ltd

Vishnu Prakash R Punglia’s revenue from operations increased to Rs 1168.40 crore in the financial year ended March 31, 2023, from Rs 785.61 crore in the year-ago period.

Incorporated in 1986, VPRPL is an integrated EPC company with experience in design and construction of various infrastructure projects for the Central and State Government, autonomous bodies, and private bodies across 9 States and 1 Union territory in India.

The company’s principal business operations are broadly divided into 4 categories: (i) Water Supply Projects (“WSP”); (ii) Railway Projects; (iii) Road Projects and (iv) Irrigation Network Projects.

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