PNN
Mumbai (Maharashtra) [India], July 18: V.L.Infraprojects Limited, Specializing in executing water supply and sewerage infrastructure projects, has announced its plan to go public with an Initial Public Offering (IPO) on July 23, 2024. The company is aiming to raise Rs 18.52 Crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.
* Total Issue Size - 44,10,000 Equity Shares of Rs 10 each * Issue Size - Rs 18.52 Crores (At Upper Band) * Price Band - Rs 39 - Rs 42 Per Share * Lot Size - 3,000 Equity Shares
The issue size is Up To 44,10,000 equity shares at a face value of Rs 10 each.
Equity Share Allocation
* QIB Anchor Portion - Up To 12,48,000 Equity Shares
* Qualified Institutional Buyers (QIB) - Up To 8,34,000Equity Shares
* Non-Institutional Investors (NII) - Up To 6,27,000Equity Shares
* Retail Individual Investors (RII) - Up To 14,61,000Equity Shares
* Market Maker - Up To 2,40,000 Equity Shares
The net proceeds from the IPO will be utilized to meet working capital requirements, Public Issue Expenses, and general corporate purposes. The bidding for the Anchor portion will open on July 22, 2024. The issue will open for subscription for all other categories on July 23, 2024 and close on July 25, 2024.
The Book Running Lead Manager to the Issue is Beeline Capital Advisors Private Limited. The Registrar to the Issue is Skyline Financial Services Private Limited.
Rajagopal Reddy Annam Reddy, Chairman& Managing Director of V.L.Infraprojects Limited expressed, V.L. Infraprojects Limited announced its IPO to strengthen operational capabilities and expand in water infrastructure and irrigation projects. As a leading government-approved contractor in "AA" Class with the Government of Gujarat, V.L. Infra specializes in designing, constructing, and maintaining critical water supply and sewerage infrastructure. The IPO proceeds will fortify working capital, cover public issue expenses, and drive strategic growth initiatives, affirming V.L. Infra's commitment to becoming a key player in the engineering and construction sector.
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