V L Infraprojects IPO oversubscribed by 415.79x on day 3, retail portion booked 618.30x; check GMP, other key details

V L Infraprojects IPO has began subscriptions on Tuesday, July 23, and will close on Thursday, July 25. The price band for V L Infraprojects' IPO is ₹39 to ₹42 per share, with a face value of ₹10. A minimum of 3,000 shares, as well as multiples of those shares, are available for bidding.

The V L Infraprojects IPO has allotted equity shares to Qualified Institutional Buyers (QIB) up to 8,34,000, Non-Institutional Investors (NII) up to 6,27,000, Retail Individual Investors up to 14,61,000, and Market Makers up to 2,40,000 shares.

V L Infraprojects focuses on the planning, implementation, and completion of government projects, particularly those involving water infrastructure and irrigation. They operate on water supply and sewerage infrastructure projects that include pipe procurement and installation, civil works construction, electromechanical equipment installation, and water distribution pipeline operations and maintenance. The company holds many permissions and registrations in Karnataka, Telangana, and Madhya Pradesh. It is also a Government Approved Contractor in the "AA" Class by the Gujarat government.

According to the red herring prospectus (RHP), the company's listed peer is EMS Ltd (with a P/E ratio of 13.920).

V L Infraprojects IPO subscription status

V L Infraprojects IPO subscription status is 415.79 times, on day 3, so far.

The retail portion was subscribed 618.30 times, and NII portion was booked 418.56 times. The QIB portion booked 58.96 times.

The company has received bids for 1,21,49,46,000 shares against 29,22,000 shares on offer, at 14:09 IST, according to data on chittorgarh.com.

V L Infraprojects IPO subscription status is 62.22 times, on day 1, and the issue was booked 179.22 times. 

V L Infraprojects IPO details

The V L Infraprojects IPO, valued ₹18.52 crore, includes a fresh issuance of 4,410,000 equity shares with a face value of ₹10. There is no "offer for sale" component.

The proceeds of the new issuance will be utilised to achieve the following objectives: working capital requirements and general company purposes.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager for the V L Infraprojects IPO, with Skyline Financial Services Private Ltd serving as the registrar. Spread X Securities is the market maker for the IPO of V L Infraprojects.

V L Infraprojects IPO GMP today

V L Infraprojects IPO GMP is +55. This indicates V L Infraprojects share price were trading at a premium of ₹55 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of V L Infraprojects share price was indicated at ₹97 apiece, which is 130.95% higher than the IPO price of ₹42.

'Grey market premium' indicates investors' readiness to pay more than the issue price.'

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