Vishnu Prakash R Punglia Limited IPO
Established in 1986, Vishnu Prakash R Punglia Limited is a company involved in designing and constructing infrastructure projects across 9 states and 1 union territory in India. Their primary operations encompass Water Supply Projects (WSP), Railway Projects, Road Projects, and Irrigation Network Projects.
Over the years, VPRP has secured accreditations from various departments and agencies, such as Jodhpur Development Authority, Public Health Engineering Department, Water Resources Department, Roads and Building Department, Military Engineering Services, and more. These registrations reflect the company’s expertise and capabilities in executing diverse projects.
Notably, in 2021, VPRP was awarded a significant Water Supply Project by the Public Health Engineering Department in Manipur, valued at ₹4332.90 million. This achievement stands in contrast to an earlier project awarded in 2002 by PHED Rajasthan for ₹19.80 million.
Vishnu Prakash R Punglia’s Initial Public Offering (IPO) is a Book Built Issue with a total issue size of ₹308.88 crore. The IPO price range is set at ₹94 to ₹99 per share, and the listing is planned on both the BSE and NSE stock exchanges.
The IPO’s primary purpose is to secure funds for specific objectives, which include financing capital expenditures for equipment and machinery, supporting the company’s working capital needs, and serving general corporate purposes.
A review by [Dilip Davda] suggests that VPRP is an EPC (Engineering, Procurement, and Construction) infrastructure development company operating across multiple states and territories. With a robust order book of ₹3800 crore as of July 15, 2023, the company appears well-positioned. However, based on earnings data from FY23, the IPO is perceived as being fully priced. Savvy investors with insights into the market may consider investing for potential medium to long-term gains.
