Vishnu Prakash R Punglia Shares Make Strong Market Debut; Jump Nearly 67%

Shares of Vishnu Prakash R Punglia Ltd made a remarkable market debut on Tuesday and listed with a premium of nearly 67 per cent against the issue price of Rs 99. The company is into Engineering, Procurement, and Construction (EPC) works. The stock began the trade at Rs 163.30, up 64.94 per cent from the issue price on the BSE. It further jumped 66.11 per cent to Rs 164.45.

On the NSE, it listed at Rs 165, registering a jump of 66.66 per cent. The company commanded a market valuation of Rs 1,832.27 crore. The Initial Public Offering (IPO) of Vishnu Prakash R Punglia Ltd was subscribed 87.81 times last week, helped by strong engagement from institutional buyers. The Rs 308.88 crore-public issue had a price range of Rs 94-99 per share.

The Jodhpur-based company has experience in the design and construction of major infrastructure projects for the central and state governments, with ongoing projects in nine states.

(PTI)