An impressive 87.8 times subscription was made to Vishnu Prakash R Punglia’s initial public offering (IPO), which was up for subscription last week. According to NSE statistics, 1,92,56,17,350 out of the 2,19,30,000 shares that were offered in the Rs 308.88 crore IPO got bids.
On September 5, Vishnu Prakash shares are expected to list on the BSE and NSE. Thursday, August 31, saw the share distribution.
IPO for Vishnu Prakash: GMP Today
Market watchers claim that Vishnu Prakash R Punglia is presently selling for Rs 54 more on the black market. The grey market premium, or GMP, of Rs 54 is around 54.6% more than the share’s maximum issuance price of Rs 99. This indicates that the grey market anticipates a 54.6% listing gain from the public offering.
Investors’ willingness to pay more than the issue price is indicated by the term “grey market premium.”
How to check the status of the Vishnu Prakash IPO share allocation
How to Access the BSE Website to Check the Vishnu Prakash R Punglia IPO Allotment Status:
1) Enter the URL https://www.bseindia.com/investors/appli_check.aspx to access the official BSE website.
2) Choose ‘Equity’ under ‘Issue Type’.
3) From the dropdown menu next to “Issue Name,” choose “Vishnu Prakash R Punglia.”
4) Enter the Permanent Account Number (PAN) associated with your application.
5) After confirming that you are not a robot, choose “Search” from the menu.
Your screen will display the status of your sharing application.
Regarding the Vishnu Prakash IPO
Engineering, procurement, and construction (EPC) projects are what the business does.
While the non-institutional investor quota only obtained 111.02 subscriptions, the category for Qualified Institutional Buyers (QIBs) attracted 171.69 subscribers.
There were 32 subscriptions to the part reserved for retail individual investors (RIIs).
A new offering of up to 3.12 crore equity shares without an Offer For Sale (OFS) component was included in the IPO. The price per share ranged from Rs 94 to Rs 99.
Anchor investors helped Vishnu Prakash R Punglia finance Rs 92 crore.
The new issuance’s proceeds will be used to pay the company’s working capital needs, purchase capital equipment, and general business purposes using the remaining amount.
With active projects in nine states, the Jodhpur-based business has expertise in the planning and implementation of significant infrastructure projects for the federal and state governments.
The offer’s managers were Choice Capital Advisors and Pantomath Capital Advisors.
It is suggested that the equity shares list on both the BSE and the NSE.
