Vishnusurya Projects And Infra, founded as Surya Developers and Promoters on May 17, 1996, mines rough stones and manufactures aggregates and manufacture-sand through crushing and sand washing plants. Besides mining, the company also handles EPC projects in sectors like water, transportation, rail, resources, and institutional development.
| Bidding Dates |
|---|
| 29 Sep 2023 - 04 Oct 2023 |
| Subscription |
|---|
| 38.01x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,36,000 | 1 | 1 | 2000 | 7.3 M | ₹68 | 70.13 % | ₹499.8 M | RHP DOC |
Vishnusurya Projects IPO SUBSCRIPTION STATUS
05 Oct '23Vishnusurya Projects IPO overall subscription rate was 38.01 times the total available shares
Vishnusurya Projects IPO retail subscription rate was 41.43 times in the retail segment
Vishnusurya Projects IPO non-institutional investor subscription rate was 34.59 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
05 Oct 2023 (Day 4) | 41.43x | 34.59x | - |
04 Oct 2023 (Day 3) | 18.24x | 2.54x | - |
03 Oct 2023 (Day 2) | 8.47x | 1.29x | - |
29 Sep 2023 (Day 1) | 1.29x | 0.28x | - |
Vishnusurya Projects FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY23 | 165.8 | 1,323.7 | 107.2 | -2.6 |
| FY22 | 78.5 | 764.6 | -109.0 | -174.3 |
| FY21 | 40.3 | 632.2 | 217.0 | 187.8 |
Vishnusurya Projects IPO SUBSCRIPTION STATUS DETAILS
Vishnusurya Projects had 7.3 M shares on offer
Vishnusurya Projects IPO offer price was ₹68
Vishnusurya Projects IPO minimum Investment was ₹136000
Vishnusurya Projects IPO issue size was ₹ 499.8 M
Vishnusurya Projects had a minimum lot size of 2000 Shares per application
Vishnusurya Projects NUMBER OF SHARES ON OFFER
Vishnusurya Projects IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2023 |
| Issue close Date | 04 Oct 2023 |
| Allotment Date | 09 Oct 2023 |
| Refund Date | 09 Oct 2023 |
| Demat Account Credit Date | 10 Oct 2023 |
| Listing Date | 10 Oct 2023 |
| Listing on Exchange(s) | NSE |
| Vishnusurya Projects Allotment Status | Exchange |
Vishnusurya Projects IPO subscription opened on 29 Sep 2023, and closed on 04 Oct 2023
IPO allotment for Vishnusurya Projects was finalized on Monday, 09 Oct 2023
IPO listing for Vishnusurya Projects was on NSE on Tuesday, 10 Oct 2023
Vishnusurya Projects IPO LISTING GAINS
| Issue Price (adjusted) | 68.0 |
| Listing Open Price | 73.0 |
| Listing Close Price | 76.7 |
| Listing Gain% | 7.3% |
| Current Gain% | 135.3% |
Vishnusurya Projects Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Vishnusurya Projects And Infra Ltd. | 160 | 393.8 | 11.7 | 0.8 | 1.2 | 15.2 | 9.7 | 357.7 | 31.8 | 35.6 | 21 | 13.7 | 14.8 |
| Larsen & Toubro Ltd. | 4064.2 | 571797.3 | 34.5 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 106.6 | 112590.4 | 641.5 | 4.4 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 231.1 | 48189 | 55.1 | -1.7 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 94.9 | 25631.1 | 35.6 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1309.6 | 22364.4 | 21.5 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Vishnusurya Projects INFORMATION ON IPO ISSUE
About Vishnusurya Projects
Vishnusurya Projects And Infra, founded as Surya Developers and Promoters on May 17, 1996, mines rough stones and manufactures aggregates and manufacture-sand through crushing and sand washing plants. Besides mining, the company also handles EPC projects in sectors like water, transportation, rail, resources, and institutional development.
Object of the Issue
- Funding of working capital requirements of the company
- Repayment/prepayment, in part or full, of certain outstanding borrowings availed by the company
- General corporate purposes
Vishnusurya Projects - PROMOTERS
| Name |
|---|
| Bhavani Jayaprakash |
Vishnusurya Projects Lead Manager to the Issue
Khandwala Securities Limited
ipo@kslindia.com
Vishnusurya Projects Registrar to the issue
Cameo Corporate Services Limited
priya@cameoindia.com
Vishnusurya Projects Strengths
Infrastructure Projects
The company reported income of about Rs 140.3 crore from executing various EPC projects. Its focus on construction, roads, and infrastructure has allowed it to bid for multiple projects
Strong order book
As of August 31, 2023, the company is working on 5 ongoing projects, including 1 road construction and 4 EPC projects, with a total order book value of Rs 2,355 crore
Strong financial performance
Despite challenges like COVID-19, the company shows strong financial performance. Its total income grew at a 45% CAGR YoY from FY21 to FY23, while its profit surged at a 102.7% CAGR YoY
Vishnusurya Projects Risks
Outstanding litigations
The company faces ongoing litigations both against and by it, which could negatively affect its financial condition if resolved unfavorably
Negative cash flows
The company reports negative cash flows from its operating, investing, and financing activities. Future operating losses or negative cash flows could harm the business
Geographic concentration
Much of the company's business operates in and from Tamil Nadu. This geographic focus could limit growth and make it vulnerable to Tamil Nadu's economic and demographic conditions
IPO FAQs
The promoter of the company is Bhavani Jayaprakash.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 68.0 - 68.0.
The IPO application opens on Sep 29, 2023 and closes on Oct 04, 2023.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 136,000.0, the maximum value for this IPO is Rs 136,000.0.
This IPO will be allotted on Oct 09, 2023.
The refund will be credited to your account on Oct 09, 2023.
The allotted shares will be credited to your demat on Oct 10, 2023.
Vishnusurya Projects And Infra Ltd.’s shares listed on the stock exchanges on Oct 10, 2023.