VVIP Infratech IPO Subscribed 5.18 Times On Day 1 So Far

VVIP Infratech Limited launched its Initial Public Offering with a book built issue worth Rs 61.21 crores. The entire issue consists of a fresh issue of 65.82 lakh shares, aimed at funding the company's expansion plans and operational requirements. The IPO opened for subscription on Tuesday, July 23.

VVIP Infratech IPO was subscribed 5.18 times on Tuesday, July 23 at 04:03 p.m. as per the market tracking site Chittorgarh.

• Non-Institutional Buyers: 3.7 times.

• Retail Investors: 8.77 times.

• Qualified Institutions: 0.00 times.

• Anchor Investors: 1 time.

Investors can subscribe to the VVIP Infratech IPO from July 23 until July 25. The allotment of shares is expected to be finalised by July 26. The IPO will be listed on the BSE SME platform, with trading anticipated to commence from July 30.

Investors looking to participate in the VVIP Infratech IPO can do so within the price band of Rs 91 to Rs 93 per share. The minimum lot size for retail investors is set at 1200 shares, requiring a minimum investment of Rs 1,11,600. High Net Worth Individuals (HNIs) are required to apply for a minimum of 2 lots, amounting to Rs 2,23,200.

Share India Capital Services Private Limited is acting as the book running lead manager for the VVIP Infratech IPO, with Maashitla Securities Private Limited appointed as the registrar for the issue. Share India Securities will serve as the market maker to facilitate trading activities post-listing.

Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in VVIP Infratech Limited.

Established in 2001 as Vibhor Builders Private Limited, VVIP Infratech Limited is an infrastructure company specializing in civil and electrical contracting. With over two decades of experience, the company undertakes a wide range of projects across Uttar Pradesh, Uttarakhand, NCR Delhi, and other northern regions of India. Its portfolio includes sewerage systems, sewage treatment plants, water tanks, water treatment plants, power distribution, substations up to 33 kVA, and sector development works.

The proceeds from the IPO will be utilized by VVIP Infratech Limited for various purposes:

1. Capital Expenditure: To fund expansion initiatives and infrastructure development projects.

2. Working Capital Requirement: To meet day-to-day operational needs and ensure liquidity.

3. General Corporate Purpose: To support ongoing business activities and strategic initiatives.

4.Issue Expense: To cover expenses related to the IPO process.

In its latest financial results, VVIP Infratech Limited reported robust growth. The company's revenue increased by 35.77%, and profit after tax (PAT) rose by 52.56% between the financial years ending March 31, 2024, and March 31, 2023.