Vision Infra Equipment Solutions IPO Subscribed 3.10 Times On Day Two
The SME IPO will close on September 10. The allotment is expected to be finalised on September 11.
Vision Infra Equipment Solutions Ltd's initial public offering which opened for subscription on September 6 was subscribed more than three times on Monday, the second day of bidding. The company plans to raise Rs 106.21 crores by issuing 65.16 lakh new shares.
The SME IPO is priced between Rs 155 and Rs 163 per share. The minimum lot size for retail investors is 800 shares, requiring a minimum investment of Rs 1,30,400. For High Net-Worth Individuals (HNIs), the minimum lot size is 1,600 shares, amounting to Rs 2,60,800.
The IPO will close on September 10. The allotment is expected to be finalised on September 11, with the shares slated to list on the NSE SME platform on September 13.
Vision Infra Equipment IPO Subscription Status Day 2
The IPO has been subscribed 3.10 times as of 6:00 p.m. on Monday.
Qualified institutional buyers: 4.38 times
Non-institutional investors: 1.31 times.
Retail investors: 3.13 times.
Vision Infra Equipment IPO Details
As per the company's red herring prospectus, of the 65,16,000 shares offered, 18.97% is reserved for qualified institutional buyers, 14.23% for non-institutional investors, 33.2% for retail investors and 28.45% for anchor investors.
Hem Securities Ltd. is the book-running lead manager for the IPO, while Link Intime India Pvt. Ltd. will serve as the registrar. Hem Finlease is the market maker for this issue.
About Vision Infra Equipment Solutions
Founded in 2015, Vision Infra Equipment Solutions Ltd. specialises in providing services across various sectors including airports, smart cities, irrigation, buildings, mining, and railroads.
The company offers rental and reconditioning services for road construction machinery, utilizing both time-based and output-based pricing models. This allows customers to either pay a fixed fee based on usage time or based on the outcomes achieved.
Vision Infra Equipment IPO: Use of Funds and Objectives
The proceeds from the issue will be utilised to fund capital expenditure to purchase additional equipment, meet working capital requirements, and general corporate purposes.
