The VVIP Infratech IPO started on July 23 and will end on July 25. The shares are priced between ₹91 and ₹93 each, with a minimum bid of 1,200 shares.
Company Overview
VVIP Infratech is involved in various infrastructure projects, including sewer systems, water treatment plants, and electrical distribution. The company’s founders are Vaibhav Tyagi, Vibhor Tyagi, and Praveen Tyagi.
IPO Subscription Status
On the second day of bidding, the IPO has been heavily oversubscribed, with total demand at 19.01 times the number of shares available. The retail portion was subscribed 27.69 times, and the non-institutional investors (NII) portion was subscribed 18.08 times. Qualified institutional buyers (QIBs) have subscribed 4.50 times.
IPO Details:
- Issue Size: ₹61.21 crore
- New Shares Issued: 6,582,000 shares
- No “Offer for Sale” Component
The funds from the IPO will be used for expenses related to the issue, working capital, capital expenditure, and general corporate purposes.
Grey Market Premium
VVIP Infratech shares are currently trading at a ₹75 premium in the grey market. This means the shares could list at around ₹168, which is 80.65% higher than the highest IPO price of ₹93.
Expert Review
Dilip Davda from Chittorgarh notes that VVIP Infratech mainly focuses on sewage treatment projects. With a strong order book and good financial performance, the IPO is seen as fully valued. It operates in a competitive market, so investors may want to consider investing cautiously.
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