Shares of Vishnu Prakash R Punglia Ltd. debuted at Rs 165 apiece on the National Stock Exchange, at a premium of 66.67% to their IPO price of Rs 99.
On the BSE, the shares listed at Rs 163.30, a premium of 64.95%.
The shares ended at a premium of 46.26% over the IPO price, though it declined 11.33% from its listing price to end at Rs 144.80 apiece.
The IPO was subscribed 87.82 times on the last day. The bids were led by institutional investors, who subscribed 171.69 times, followed by non-institutional investors at 111.03 times. Retail investors subscribed 32.02 times, while those reserved for employees subscribed 12.97 times.
The company has design and engineering, procurement, project management, and quality management teams along with a fleet of 499 construction equipment and vehicles.
It has in-house teams to deliver projects from design to completion. This reduces their dependency on third parties for key materials, such as ready-mix concrete, stone aggregates, and bitumen, and services like design and engineering, transportation, and logistics required in the development and construction of projects.
The scope of their services includes detailed engineering of the project, procurement of key materials, and project execution at the sites, with overall project management up to the commissioning of these projects.
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