Vishnu Prakash R Punglia submits draft for an IPO to SEBI

17 Apr 2023 CW Team

Construction company Vishnu Prakash R Punglia. from Jodhpur has submitted draft papers to the Securities Exchange Board of India (SEBI) in order to raise money through an IPO.

A new issue of up to 31.20 million shares is included in the IPO. The issue's main managers are Choice Capital Advisors and Pantomath Capital Advisors.

The proceeds from the new issue, worth Rs 580 million, would be used to cover the costs of capital expenditures for the purchase of machinery and equipment. Additionally, the company intends to use Rs 1.4 billion for working capital needs.

This business, which specialises in integrated engineering, procurement, and construction (EPC), has a wealth of experience designing and building infrastructure projects for numerous organisations, including the Central and State Governments, autonomous bodies, and private businesses, throughout nine Indian States and one Union Territory. Water Supply Projects (WSP), Railway Projects, Road Projects, and Irrigation Network Projects are the company's four main business segments.

Its operational revenue for FY22 increased significantly from Rs 4.85 billion to Rs 7.85 billion. Compared to the same period previous year, the net profit was Rs 440.85 million as opposed to Rs 180.98 million. The EBITDA margin increased from 9.7 % to 11.26 %.

Also read:
DMRC lowest bidder for Mumbai Metro Line 3
Arunachal govt to build 50 mini hydropower plants in Chinese border

Infrastructure Urban

17 Sep 2025

ICMM CEO Rohitesh Dhawan Visits Hindustan Zinc

Hindustan Zinc, India’s only and the world’s largest integrated zinc producer, hosted Rohitesh Dhawan, President & CEO of the International Council on Mining and Metals (ICMM), at its flagship Sindesar Khurd Mine (SKM) in Rajasthan. The visit follows Hindustan Zinc’s induction as the first Indian company into ICMM, marking a significant milestone for India’s mining sector on the global sustainability stage.Dhawan, accompanied by run Misra, CEO of Hindustan Zinc, and the senior leadership team, toured Sindesar Khurd Mine – the world’s fourth-largest silver-producing mine – to ..

Amit Gupta Appointed CFO of Vedanta Jharsuguda Unit

Vedanta Aluminium has announced the appointment of Amit Gupta as Deputy Chief Financial Officer of its aluminium business and Chief Financial Officer of its Jharsuguda unit in Odisha.Gupta has been associated with the Vedanta Group since 2018, beginning as Group Head – FP&A at Vedanta Resources. With over two decades of cross-sector experience, he brings strong expertise in financial strategy, project finance, and business transformation.Prior to this role, he served as CFO of Bharat Aluminium Company (BALCO), where he led finance operations for more than four years. He has also held sen..

Adani Power To Build 2,400 MW Plant in Bihar

Adani Power on Saturday (September 13, 2025) announced plans to set up a 2,400 MW ultra super-critical power plant in Bihar at an investment of $3 billion (around Rs 26.48 billion).The company has signed a 25-year Power Supply Agreement (PSA) with Bihar State Power Generation Company Ltd (BSPGCL) to supply electricity from the project, which will be located at Pirpainti in Bhagalpur district.The PSA follows a Letter of Award issued by BSPGCL to Adani Power on behalf of North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) in August. Adani P..