On Tuesday, shares of Vishnu Prakash R Punglia Ltd. made an impressive market debut and concluded the day with a premium of more than 47 per cent over the Rs. 99 issue price.
The company is into Engineering, Procurement, and Construction (EPC) works.
The shares opened for trading at Rs 163.30, up 64.94 per cent from the BSE issue price. It increased 66.11 per cent throughout the day to Rs 164.45. The company’s shares eventually closed up 47.40% at Rs 145.93 per share.
On the NSE, it listed at Rs 165, registering a jump of 66.66 per cent. Shares of the firm settled at Rs 144.80 each, a gain of 46.26 per cent.
The company commanded a market valuation of Rs 1,818.93 crore.
In volume terms, 24.42 lakh shares of the company were traded on the BSE and over 3.34 crore shares on the NSE during the day.
Last week, the Initial Public Offering (IPO) of Vishnu Prakash R Punglia Ltd. subscribed 87.81 times as much interest to the active participation of 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.
