VVIP Infratech share price made a stellar debut on the BSE SME today. VVIP Infratech share price today opened at ₹176.70 per share, 90% higher than the issue price of ₹93.
The initial public offering (IPO) of VVIP Infratech was priced between ₹91 and ₹93 per share, with a face value of ₹10. There were multiples of 1,200 shares up for bid in addition to a minimum of 1,200 shares. The subscription period for the IPO of VVIP Infratech began on Tuesday, July 23, and ended on Thursday, July 25. VVIP Infratech IPO subscription status was 236.92 times on the last bidding day.
The business VVIP Infratech is engaged in the planning, development, and construction of infrastructure projects. These projects include the construction of water tanks, sewer treatment plants, sector development, Jal Jeewan Mission work, electrical distribution, and substations up to 33 KVA. In 2013, the company constructed two 56 MLD STPs using Sequential Batch Reactor (SBR) technology. The company's promoters are Vaibhav Tyagi, Vibhor Tyagi, and Praveen Tyagi.
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 funds from the offering will be utilised for the following objectives: covering the issue expenses, meeting working capital needs, financing capital expenditures, and serving general corporate requirements.
Share India Capital Services Private Ltd is the book running lead manager for the VVIP Infratech IPO, and Maashitla Securities Private Ltd is the registrar for the offering.
VVIP Infratech IPO GMP is +122. This indicates VVIP Infratech share price were trading at a premium of ₹122 in the grey market, according to investorgain.com.
The expected listing price of VVIP Infratech shares was indicated at ₹215 apiece, which is 131.18% more than the IPO price of ₹93, taking into account the top end of the IPO pricing band and the existing premium on the grey market.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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