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Vishnu Prakash R Punglia's IPO is getting good response, subscribed 10.63 times on second day
Vishnu Prakash R Punglia IPO: Vishnu Prakash's IPO was open to investors in the stock market on the previous day. The company's IPO will be open to investors till 28 August 2023. The price band of the company's IPO has been fixed between Rs 94 to Rs 99. The company's IPO will be listed on the stock market next month.
The initial public offer (IPO) of engineering, procurement, and construction (EPC) firm Vishnu Prakash R Punglia Ltd was subscribed 10.63 times on the second day of the offer on Friday. The Rs 308.88-crore public issue received bids for 23,30,33,100 shares against 2,19,30,000 shares on offer, according to NSE data.
Let us tell you that non-institutional investors have shown more interest in the company's IPO. The non-institutional investors category was subscribed 19.39 times, while the retail individual investors (RIIs) quota was subscribed 12.88 times. The Qualified Institutional Buyers (QIB) portion received a 35 percent subscription.
The IPO is a fresh issue of 3.12 crore equity shares, which does not have an offer for sale (OFS) component. The company's IPO has a price band of Rs 94 to Rs 99 per share. Vishnu Prakash R Punglia on Wednesday said it has raised Rs 92 crore from anchor investors.
