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 %.

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