VVIP Infratech IPO booked 73.22x on the third bidding day so far, NII, retail portion see huge demand; check GMP

The VVIP Infratech IPO subscription period began on Tuesday, July 23, and it closes on Thursday, July 25. The initial public offering (IPO) of VVIP Infratech is priced between ₹91 and ₹93 per share, with a face value of ₹10. There is a minimum of 1,200 shares up for bid, as well as multiples of those.

The company VVIP Infratech is involved in the planning, development, and building of infrastructure projects, including those involving sewers, treatment plants for them, water tanks, Jal Jeewan Mission work, sector development, electrical distribution, and substations up to 33 KVA. In 2013, the business built two 56 MLD STPs with Sequential Batch Reactor (SBR) technology.

The company's promoters are Vaibhav Tyagi, Vibhor Tyagi, and Praveen Tyagi.

As per the red herring prospectus (RHP), the company's listed peers are EMS Ltd (with a P/E of 13.92), and Vishnusurya Projects and Infra Ltd (with a P/E of 16.62).

Between March 31, 2024, and March 31, 2023, VVIP Infratech Limited's profit after tax (PAT) climbed by 52.56% and its revenue by 35.77%, respectively.

VVIP Infratech IPO subscription status

VVIP Infratech IPO subscription status is 73.22 times, on day 3, so far.

The retail portion was subscribed 91.74 times, and NII portion was booked 120.03 times. The qualified institutions buyers portion has been subscribed 5.64 times.

The company has received bids for 32,01,09,600 shares against 43,71,600 shares on offer, at 12:53 IST, according to data on chittorgarh.com.

VVIP Infratech IPO subscription status was 6.21 times on the first day of bidding, and the issue was booked 26.40 times on day 2. 

VVIP Infratech IPO details

The VVIP Infratech IPO, valued ₹61.21 crore, includes a fresh issuance of 6,582,000 equity shares with a face value of ₹10. There is no "offer for sale" component.

The business plans to use the issue's proceeds for the following purposes: issue expense, working capital requirement, capital expenditure, and general corporate purpose.

The VVIP Infratech IPO's book running lead manager is Share India Capital Services Private Ltd, while the issue's registrar is Maashitla Securities Private Ltd.

VVIP Infratech IPO GMP today

VVIP Infratech IPO GMP is +75. This indicates VVIP Infratech share price were trading at a premium of ₹75 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 VVIP Infratech share price was indicated at ₹168 apiece, which is 80.65% higher than the IPO price of ₹93.

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

VVIP Infratech IPO review

Contributing editor at Chittorgarh, Dilip Davda, claims that the firm mostly focuses on STP-related services when it comes to infrastructure operations. As of March 31, 2024, it had an order book of over Rs. 477 crore, and it had increased both its top and bottom lines during the periods under review. FY24 super results suggest that the issue is fully valued. It competes in a crowded and very competitive market. Sensible investors may park modest sums of money for a medium duration.

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