Vishnu Prakash R Punglia Limited, a prominent and one of the fastest-growing infrastructure development companies, has made a significant announcement regarding an order received by the company.
As detailed in the official report VPRPL-B&G JV, a Joint Venture with Vishnu Prakash R Punglia Limited at the helm, has bagged an order from the Office of Municipal Board in Piparcity, Rajasthan. The estimated contract value of the project is Rs 73.07 crore as per the press release.
The order is for providing laying, jointing, testing, and commissioning of the Sewerage System and all ancillary works along with Design, construction, supply, installation, testing, and commissioning (Civil, Mechanical, Electrical, instrumentation, and other necessary works) of Sewage Pumping Station.
Sewage Treatment Plant based on the SBR process with provision for treated wastewater reuse including 1 year defect liability with 10 years O&M for Nagar Palika Piparcity,” is set to bring a transformation to the sewage and wastewater management system in Piparcity.
Today, the shares of the company opened the day at Rs 174.99, almost flat compared to the previous day’s closing price of Rs 173.31 on the BSE. Finally, they concluded the day at Rs 170 apiece representing a 1.91% decline from the previous day’s closing price.
IPO and Subscription details:
This month, the Vishnu Prakash R Punglia stock made its debut in the Indian market. It was listed with a stellar premium of 65% at Rs 163 per share on the BSE. During the IPO, the issue price was fixed at Rs 99 per share. Based on this issue price, the shares have generated an impressive 72% return.
Observing the subscription history during its IPO then on the final day of the IPO window August 28, 2023, the IPO witnessed a subscription rate of 87.82 times. The public issue received an overwhelming response, with the retail category being subscribed 32.01 times, the QIB category achieving a subscription rate of 171.69 times, and the NII category reaching a subscription rate of 111.03 times.
Vishnu Prakash R Punglia Limited specializes in designing and constructing infrastructure projects for Central and State Governments, autonomous bodies, and private entities across 9 States and 1 Union territory in India. The company’s primary business operations are categorized into four main areas: Water Supply Projects (WSP), Railway Projects, Road Projects, and Irrigation Network Projects.
Here is the chart presentation of the stock on the daily time frame:
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.