Public Market

IPO

EPC player Vishnu Prakash R Punglia collects Rs.92-Cr from anchor investors

CNBC TV18  

Jodhpur-based engineering, procurement, and construction (EPC) firm Vishnu Prakash R Punglia Ltd has raised INR 92 crore from anchor investors ahead of its initial public offering (IPO). The company has decided to allocate 92.7 lakh equity shares to anchor investors at INR 99 apiece, the upper end of the price band. Quant Mutual Fund, Kotak Mahindra Life Insurance Company Ltd, Max Life Insurance Company Ltd, BNP Paribas, Copthall Mauritius Investment Ltd, Milky Investment and Trading Company, Societe Generale and Minerva Emerging Opportunities Fund Ltd are among the anchor investors. The company has fixed a price band of INR 94-99 per share for its maiden public issue, which comprises a fresh issue of 3.12 crore equity shares. There is no Offer for Sale (OFS) component. Proceeds from the fresh issuance will be used for purchasing capital equipment and for funding the working capital requirements of the company. The IPO will fetch INR 293.28 crore and INR 308.88 crore at the lower and upper ends of the price band, respectively. Choice Capital Advisors and Pantomath Capital Advisors are the book-running lead managers.