Vishnu Prakash R Punglia is set to launch an IPO of Rs. 308.88 crore which will open on August 24, 2023, and close on August 28, 2023. Through this public offer company wants to raise Rs.308.88 Crore from the primary market in terms of fresh issue only, according to the preliminary papers filed to the capital market regulator SEBI and Registrar of Company (ROC).

Vishnu Prakash R Punglia company is engaged in the business of integrated engineering, procurement, and construction (EPC), the company mainly focuses on its four principal operations viz. Road Projects, Water supply projects, Railway projects, and irrigation network projects. The company has undertaken various construction and infrastructure projects from the state and central government along with private projects.  The company’s in-house team delivers projects from design to operation to avoid dependence on other parties for key materials and other things.

The company provides the below-mentioned services:

• Detail engineering for the project
• Procurement of kay materials
• Undertake and maintain projects
• Projection execution at the site
• Management support commissioning and others

The company’s water supply project operations contribute more than 80% of the company’s revenue.  In the fiscal year 2023, the company generated Rs. 1168.40 Crore, and Rs. 785.61 crore in the fiscal year 2022. As on March 2023, the company generate more than 66% in revenue from projects undertaken in the state of Rajasthan only.

Below mentioned some infrastructure projects undertaken by the company from the state and central government departments in multiple locations and segments.

• PHED, Rajasthan
• Water Resources Department, Rajasthan
• Sardar Sarovar Narmada Nigam Ltd
• Rail Vikas Nigam Limited
• State water and Sanitation mission
• Gujrat water supply and sewage board
• Western Railway
• Central Railway

#Object of Vishnu Prakash R Punglia IPO

The company proposed to use the IPO Funds for the below-mentioned purposes:

1. To use maximum funds for capital expenditure nature for the purchase of equipment.
2. To use funds for working capital requirement
3. Rest funds will be used for general corporate purposes.

#Vishnu Prakash R Punglia Strength

1. Company has more than 35 years of experience in the field of construction, and infrastructure in the water supply project segment across multiple locations in the state of Rajasthan.
2. In-house integral model system from design to operation, help to reduce dependence on other vendors for the key materials.
3. The company has a good track record of successfully completion of projects over the year and build a strong position in the market.
4. Undertaken infrastructure projects of state and central government across multiple locations & segments.
5. Experienced and dedicated team management of the company.

#Vishnu Prakash R Punglia Forward Statements

1. The company has certain outstanding litigation on the company.
2. Major portion of projects executed by the company in the water supply project segment only.
3. In fiscal years 2023 & 2022 company has a negative free operating cash flow to debt ratio.
4. The company reported negative cash flow from its operating, investing, and financing activities, which could impact company growth.
5. The company business is concentrated in the state of Rajasthan only.

 #Vishnu Prakash R Punglia IPO Review & Rating

Issue Size	308.88 Crore
Issue Price	Rs. 99 per share
P/E Ratio	9.51
Market Capitalization	1233.97 Crore
Profit – 2023	90.64 Crore
Total Assets – 2023	828.48 Crore
Debt/Equity ratio	0.80
NAV Value	36.11 per share
Promoter holding	90.45%
Listing on Stock Exchanges	NSE & BSE (Mainboard)
IPO Deliver Rating	Five

 

#Vishnu Prakash R Punglia IPO Dates, Price Band, Lot Size & Details

Type of issue	Fresh issue (Book built issue)
Issue Size	308.88 crore
Price band	Rs.94-99 per share
Lot size	150 shares
Face Value	Rs. 10 each share
IPO Open	August 24, 2023
IPO Close	August 28, 2023
IPO Allotment Date	August 31, 2023
Refund Date	September 01, 2023
Listing Date	September 04, 2023
Fresh issue	31,200,000 equity shares

 

#Vishnu Prakash R Punglia Financials Review(million)

The following table set forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022 & 2021.

Category	March 31, 2023	March 31, 2022	March 31, 2021
Total Revenue	11,684.04	7,856.13	4,857.31
Net Worth	3,145.07	1,586.90	1,136.14
Profit after Tax (PAT)	906.43	448.47	189.82
Total borrowings	2,503.74	1,765.77	1,107.82

 

#Vishnu Prakash R Punglia IPO Quantitative Factors

The following table set forth the summary of financial information of the company for the financial year ended March 31, 2023, 2022 & 2021.

Category	March 31, 2023	March 31, 2022	March 31, 2021
Basic EPS	10.41	5.31	2.25
Diluted EPS	10.41	5.31	2.25
Debt/Equity Ratio	0.80	1.11	0.98
R/Ce Ratio	33.72	29.94	19.40
RoNW	38.31	32.94	18.24
NAV	36.11 per share	18.79 per share	13.45 per share

 

#Vishnu Prakash R Punglia IPO comparison with Listed Industry peers

Company	NAV	EPS	RoNW	P/E
V P R P Ltd (IPO)	36.11	10.41	38.31	–
PNC Infra Ltd	167.03	25.67	16.24	13.48
H.G. Infra Engg. Ltd	294.90	75.68	29.38	12.56
NCC Ltd.	98.22	9.77	10.98	16.24

 

 #Vishnu Prakash R Punglia Promoters Details

The company has five promoters’ names are below mentioned.

1. Vishnu Prakash Punglia
2. Manohar Lal Punglia
3. Sanjay Kumar Punglia
4. Kamal Kishor Pungalia
5. Ajay Pungalia

• Pre-offer shareholding 90.45% (84,519,000 equity shares) Post-offer shareholding: 57.06%
• The average cost of acquisition for promoter-selling shareholders: Rs.3.33 per equity share.

#Vishnu Prakash R Punglia IPO Pre-offer and Post-Offer Promoters shareholding

Pre-offer promoter & promoter group shareholding 90.45%

Post-offer promoter & promoter group shareholding 57.06%

#Vishnu Prakash R Punglia IPO Reservation

QIB: Not more than 50% of the offer size i.e 15,450,000 Equity shares

NII:  Not less than 15% of the offer size i.e 4,63,5000 Equity shares

Retail investor (RII): Not less than 35% of the offer size i.e 10,815,000 equity shares

Employee Reservation up to 3,00,000 equity shares

#Vishnu Prakash R Punglia IPO – DRHP & RHP

Draft Red Herring Prospectus (DRHP) – Click to view/download

Red Herring Prospectus (RHP) – Click to view/download

#Vishnu Prakash R Punglia IPO Registrar

Link Intime India Private Limited

Regd. C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli – West,

Mumbai 400083

Tel: +91 8108114949. Email: Email: vishnuprakashrpunglia.ipo@linkintime.co.in

#Vishnu Prakash R Punglia IPO lead manager

#1 Choice Capital Advisors Private Limited

Regd. Office: Sunil Patodia Tower, Plot No. 156-158, J.B. Nagar,

Andheri-East, Mumbai – 400099

Tel: +91-22 67079999, Email: vprp.ipo@choiceindia.com

#2 Pantomath Capital Advisors Private Limited

Regd. Office: Pantomath Nucleus House, Sakivihar Road,

Andheri East, Mumbai – 400072 Maharashtra, India.

Tel: +91-22 61946700, Email: ipo@pantomathgroup.com

#Vishnu Prakash R Punglia IPO Application

Option-1 Apply for IPO through Internet Banking

• Log into your bank account.
• In invest Tab, you will see ASBA, click on it.
• Choose to apply for IPO & Select the ongoing IPO “Vishnu Prakash R Punglia Limited”
• Enter the basic detail like bid quantity, price, PAN, etc. then proceed with payment.
• After the above steps the respective amount will get blocked till the allotment date and after it will get a refund/debited in case of rejection/allotment respectively.

Option-2 Apply for IPO through Broker

• Log into your broker account (Upstox/Zerodha etc.)
• Click on the IPO tab and select the ongoing IPO “Vishnu Prakash R Punglia Limited”
• Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
• Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or get refunded in case no allotment is made to you.

Option-3 Apply for IPO Offline Mode Bank mode

• Visit the nearest branch of your bank
• Fill out the ASBA form and submit it with KYC details
• Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or get refunded in case no allotment is made to you.

Option – 4 Apply for IPO through Stock Exchanges

NSE Form – Click to download

BSE Form – Click to download

Submit the form with your bank/broker.

#Vishnu Prakash R Punglia Company Details

Vishnu Prakash R Punglia Limited (Registered as a company on May 13, 2013) “Originally formed as partnership in year 1986”

Regd. Office: Unit No. 3, 5th Floor, B-wing, Trade Star Premises Co-operative Society Limited, Village Kondivita, Mathuradas Vasanji Road, Near Chakala Metro Station, Andheri – East, Mumbai- 400059

Tel: +91 22 40164020 & Email: compliance@vprp.co.in & Website: www.vprp.co.in 

Investor Grievances/Compliance Officer: Neha Matnani

Group Company:

Vishnu Prakash R Punglia Construction Limited and Vishnu Shree Test Labs Private Limited.

#Vishnu Prakash R Punglia Company Board

Manohar Lal Punglia (67) Managing Director

Vishnu Prakash Punglia (50) Whole-time Director

Sanjay Kumar Punglia (43) Whole-time Director  & CEO

# Vishnu Prakash R Punglia IPO – Frequently Asked Questions (FAQ’s)

Q-1 what is Vishnu Prakash R Punglia IPO Open date?

Ans: Vishnu Prakash R Punglia IPO opening date is August 24 – August 28, 2023.

Q-2 what is Vishnu Prakash R Punglia IPO Close date?

Ans: Proposed Company IPO opening date is August 28, 2023

Q-3 what is Vishnu Prakash R Punglia IPO Listing date?

Ans: Vishnu Prakash R Punglia opening date is September 04, 2023

Q-4 what is Vishnu Prakash R Punglia IPO Minimum investment amount?

Ans: Vishnu Prakash R Punglia IPO minimum investment amount is Rs. 14,850.

Q-5 what is Vishnu Prakash R Punglia IPO offer issue Size?

Ans: Vishnu Prakash R Punglia offers an issue size of Rs. 308.88 crores.

Q-6 what is Vishnu Prakash R Punglia IPO Price Band?

Ans: Vishnu Prakash R Punglia IPO price band is Rs. 94 – Rs. 99 per share.

Q-7 Is any similar segment/sector listed company in India?

Ans: Yes

Q-8 Is this mainboard IPO or SME IPO?

Ans: Vishnu Prakash R Punglia IPO is a mainboard IPO.

Q-9. What are Vishnu Prakash R Punglia’s promoter names?

Ans: Vishnu Prakash R Punglia Promoter Company name are VP Punglia, ML Punglia, SK Punglia, KK Punglia, Ajay Punglia.

Q-10 Vishnu Prakash R Punglia IPO Rating by IPO Deliver Team?

Ans: Five Rating