A fantastic new debut on the markets today – Vishnu Prakash R Punglia. As against the IPO price of Rs.99, it got listed on the BSE at Rs.163.30, a premium of 65% though it has come off the highs now and is trading at Rs.148 levels.
The company is engaged in the business of designing and constructing infrastructure projects for the central and state governments, autonomous bodies, and private bodies across nine states and one union territory in India.
The IPO was overall subscribed 87.82 times, with the qualified institutional portion subscribing 171.69 times, while the HNIs category was subscribed 111.03 times and Retail investors at 32.01 times.
In our IPO Analysis, we had concluded, “Company looks promising on the expected growth and inexpensive valuation. Hence, we recommend ‘apply’ to the IPO.”