Vishnu Prakash R Punglia shares make strong market debut; settle with over 47 pc premium

Shares of Vishnu Prakash R Punglia Ltd made a remarkable market debut on Tuesday and ended with a premium of over 47 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. During the day, it jumped 66.11 per cent to Rs 164.45.

Shares of Vishnu Prakash R Punglia Ltd made a remarkable market debut on Tuesday and ended with a premium of over 47 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. During the day, it jumped 66.11 per cent to Rs 164.45. Shares of the company finally ended at Rs 145.93 apiece, rallying 47.40 per cent.

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.

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.