Bumper listing of Vishnu Prakash IPO on NSE and BSE, profit of Rs 9900 on one lot

The listing of shares of infrastructure company Vishnu Prakash R Punglia Limited took place on Tuesday. The stock was listed on NSE at Rs 165 per share, a premium of 66.66 percent over its issue price of Rs 99. At the same time, the share was listed on BSE at Rs 163.30 per share with a premium of 65 percent.

There has been a decline of about 15 percent in the shares of Vishnu Prakash R Punglia Limited after listing. As of 11 a.m., the stock was trading on NSE at Rs 148.70 per share, up 50.30 percent. At the same time, on BSE the stock was trading at Rs 149.00 per share with a rise of 50.39 percent.

The price band of this IPO was fixed at Rs 94 to Rs 99 per share and its lot size was 150 shares. An investment of Rs 14850 (150*99) was made by the investor for one lot in the IPO. In such a situation, due to the listing of the stock at Rs 165 on NSE, investors have made a profit of Rs 9900 on one lot.

The IPO of Vishnu Prakash R Punglia Limited was open from 24 August to 28 August. It got a decent response from investors. The size of this IPO was Rs 308.88 crore. The IPO was subscribed 87.82 times. The retail category was subscribed 32.01 times, while the quota reserved for QI was subscribed 171.69 times. The NII category was subscribed 111.03 times.

The money raised by the company in the IPO will be used to meet working capital requirements and purchase new equipment.