V L Infraprojects’ IPO will start accepting subscriptions on Tuesday, July 23, and will close on Thursday, July 25. The shares will be priced between ₹39 and ₹42 each, with a minimum purchase of 3,000 shares.
The IPO has allocated shares for different types of investors: 8,34,000 shares for Qualified Institutional Buyers (QIB), 6,27,000 shares for Non-Institutional Investors (NII), 14,61,000 shares for Retail Individual Investors, and 2,40,000 shares for Market Makers.
V L Infraprojects focuses on designing and constructing government projects, particularly in water infrastructure and irrigation. They handle water supply and sewerage projects, including pipe installation, civil works, electromechanical equipment setup, and water distribution maintenance. The company is approved as an “AA” Class contractor by the Gujarat government and holds various permits in Karnataka, Telangana, and Madhya Pradesh.
According to the red herring prospectus (RHP), V L Infraprojects’ peer company is EMS Ltd, with a price-to-earnings ratio of 13.920. In the fiscal year 2024, V L Infraprojects reported revenue of ₹11,393.16 lakhs, EBITDA of ₹1,090.40 lakhs, and a net profit (PAT) of ₹614.01 lakhs.
The IPO, valued at ₹18.52 crore, involves a fresh issue of 4,410,000 shares with a face value of ₹10 each. There is no offer-for-sale component. The funds raised will be used to meet working capital needs and for general corporate purposes.
Beeline Capital Advisors Pvt Ltd is the lead manager for the IPO, while Skyline Financial Services Private Ltd is the registrar. Spread X Securities is the market maker for V L Infraprojects’ IPO.
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