Vishnu Prakash R Punglia files DRHP with SEBI for the proposed IPO; Key Details here

Vishnu Prakash R Punglia is into Infrastructure Integrated Engineering, Procurement and Construction and is looking raise funds through Fresh Issue

Vishnu Prakash R Punglia to raise Fresh Issue aggregating up to Rs crores and an Offer for Sale up to Equity Shares through public issue IPO

Vishnu Prakash R Punglia IPO: Vishnu Prakash R Punglia Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue of up to 31,200,000 Equity Shares. Choice Capital Advisors, Pantomath Capital Advisors have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue of up to 31,200,000 Equity Shares.

Objects of the issue:
1) To purchase Capital Equipment amounting to Rs. 58.64 crores, 2) Funding the working capital requirements amounting to Rs.140 crores, and 3) General corporate purposes.

About Company:
Vishnu Prakash R Punglia established in 1986 as partnership firm and in 2013 converted to Pvt. Ltd. Company is into integrated engineering, procurement and construction (“EPC”) 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. Business operations are broadly divided into four categories: (i) Water Supply Projects (WSP); (ii) Railway Projects; (iii) Road Projects and (iv) Irrigation Network Projects.

About Industry:
The Infrastructure sector acts as a catalyst for India’s economic growth as it drives the growth of the allied sectors like townships, housing, built-up infrastructure and construction development projects. In order to become a US$ 5 trillion economy by 2025, infrastructure development is the need of the hour. Government schemes such as National Infrastructure Pipeline (NIP), Jal Jeevan Mission (JJM) and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 would need massive infrastructure development.

Source: SEBI, BSE, NSE, DRHP, Company, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.