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Vishnu Prakash R Punglia plans to raise Rs 308.88 crore through an initial public offering. The subscription for the IPO will be open from August 24 to August 28, 2023. The price band is fixed at Rs 94-99 per share.
The IPO comprises of only fresh issue of 3.12 crore shares having a face vlaue of Rs 10 each. Employees of the company will get a discount of Rs 9 to the final issue price. The lot size is 150 shares per lot.
Company Summary
Vishnu Prakash R Punglia Limited is an ISO 9001:2015 certified integrated engineering, procurement and construction (“EPC”) company with experience in design and construction of various infrastructure projects for the Central and State Government, autonomous bodies, and private bodies across nine states and one union territory in India.
The company’s principal business operations are broadly divided into four categories: (i) Water Supply Projects (“WSP”); (ii) Railway Projects; (iii) Road Projects and (iv) Irrigation Network Projects.
The company’s projects include constructing, designing, building, implementing, operating, maintaining and developing Water Supply Projects (“WSPs”) including Water Treatment Plants (“WTPs”) along with pumping stations and laying of pipelines for supply of water.
The company is also involved in projects such as construction of roads, bridges, tunnels, warehouses, buildings, railway buildings including platforms, stations, quarters, administrative buildings, rail-over-bridges and waste water treatment plants.
The infrastructure-based company has design and engineering, procurement, project management and quality management teams along with a fleet of four hundred and ninety nine (499) construction equipment and vehicles. The company’s in-house teams deliver the projects from design to completion, reducing their dependency on third parties for key raw materials.
Company Financials
Period Ended | FY23 | FY22 | FY21 |
Total Assets (Rs in crore) | 825.48 | 497.81 | 331.05 |
Total Revenue (Rs in crore) | 1,171.46 | 787.39 | 487.67 |
EBITDA (Rs in crore) | 159.64 | 88.64 | 47.32 |
EBITDA Margin | 13.63% | 11.26% | 9.70% |
Net Profit (Rs in crore) | 90.64 | 44.85 | 18.98 |
Net Profit Margin | 7.74% | 5.70% | 3.89% |
Return on Capital Employed | 33.72% | 29.94% | 19.40% |
Return on Equity | 38.31% | 32.94% | 18.24% |
Debt-Equity Ratio | 0.8 | 1.11 | 0.98 |
Interest Coverage Ratio | 5.05 | 3.51 | 2.46 |
Company Strengths
- Robust order book across different business segments and geographical regions.
- Well-established client base of various departments of the Central and State Governments.
- Consistent track record of successful completion of projects.
- Undertaking construction business in an integrated manner on the back of competencies and in-house resources to deliver a project from conceptualization till completion.
- The company is a focused player in Water Supply Projects (WSPs) and have executed more than 75 WSPs and also 38 WSPs are under execution as on August 17, 2023.
- Experienced promoters having over 36 years of experience in the construction industry, who are supported by a strong management team with experience in the EPC sector and having a proven track record of performance.
Purpose of the IPO
The net proceeds from fresh issue of shares will be utilized for purchasing capital equipment totalling Rs 62.177 crore; funding the working capital requirements of the Company aggregating up to Rs 150 crore; and general corporate purposes.
Company Promoters
Vishnu Prakash Punglia, Manohar Lal Punglia, Sanjay Kumar Punglia, Kamal Kishor Pungalia, and Ajay Pungalia are promoters of the company.
IPO Details
IPO Subscription Date | August 24 to August 28, 2023 |
Face Value | Rs 10 per share |
Price Band | Rs 94 to Rs 99 per share |
Lot Size | 150 Shares |
Total Issue Size | 3,12,00,000 shares aggregating up to Rs 308.88 crore |
Fresh Issue | 3,12,00,000 shares aggregating up to Rs 308.88 crore |
Issue Type | Book Build Issue IPO |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount |
Retail (Minimum) | 1 | 150 | Rs 14,850 |
Retail (Maximum) | 13 | 1950 | Rs 1,93,050 |
Small HNI (Minimum) | 14 | 2,100 | Rs 2,07,900 |
Small HNI (Maximum) | 67 | 10,050 | Rs 9,94,950 |
Large HNI (Minimum) | 68 | 10,200 | Rs 10,09,800 |
Allotment Details
Event | Date |
Allotment of Shares | August 31, 2023 |
Initiation of Refunds | September 1, 2023 |
Credit of Shares to Demat Account | September 4, 2023 |
Listing Date | September 5, 2023 |
To check allotment, click here