V.L.Infraprojects was incorporated on December 19, 2014. The company is engaged in executing water supply and sewerage infrastructure projects mainly involving the procurement of pipes and their laying, joining, and commissioning with backward integration including all allied civil engineering works like construction of civil work, pumping stations, and installation of electro-mechanical equipment for distribution of water supply from the river to household. It also provides operations & maintenance services for water distribution pipelines.
| Bidding Dates |
|---|
| 23 Jul 2024 - 25 Jul 2024 |
| Subscription |
|---|
| 587.96x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,17,000 | 1 | 1 | 3000 | 4.4 M | ₹39 - ₹42 | 65.39 % | ₹172.0 M - ₹185.2 M | RHP DOC |
V L Infraprojects IPO SUBSCRIPTION STATUS
25 Jul '24V L Infraprojects IPO overall subscription rate was 587.96 times the total available shares
V L Infraprojects IPO retail subscription rate was 1114.49 times in the retail segment
V L Infraprojects IPO non-institutional investor subscription rate was 960.98 times in the non-institutional investor category
V L Infraprojects IPO Qualified Institutional Bidder subscription rate was 107.47 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Jul 2024 (Day 3) | 1114.49x | 960.98x | 107.47x |
24 Jul 2024 (Day 2) | 378.91x | 185.05x | 4.91x |
23 Jul 2024 (Day 1) | 134.47x | 54.32x | 0.47x |
V L Infraprojects 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) | Margins |
| FY24 | 61.4 | 1,139.3 | -17.5 | -43.6 | 9.6% |
| FY23 | 22.3 | 455.6 | 11.4 | 8.6 | 10.4% |
| FY22 | 11.1 | 355.5 | -24.4 | -26.0 | 8.8% |
| FY21 | 8.3 | 307.2 | 4.9 | -6.1 | 8.0% |
V L Infraprojects IPO SUBSCRIPTION STATUS DETAILS
V L Infraprojects had 4.4 M shares on offer
V L Infraprojects IPO offer price was in the range ₹39 - ₹42
V L Infraprojects IPO minimum Investment was ₹117000
V L Infraprojects IPO issue size was ₹ 172.0 M - ₹ 185.2 M
V L Infraprojects had a minimum lot size of 3000 Shares per application
V L Infraprojects NUMBER OF SHARES ON OFFER
V L Infraprojects IPO IMPORTANT DATES
| Issue Open Date | 23 Jul 2024 |
| Issue close Date | 25 Jul 2024 |
| Allotment Date | 26 Jul 2024 |
| Refund Date | 29 Jul 2024 |
| Demat Account Credit Date | 29 Jul 2024 |
| Listing Date | 30 Jul 2024 |
| Listing on Exchange(s) | NSE |
| V L Infraprojects Allotment Status | Exchange |
V L Infraprojects IPO subscription opened on 23 Jul 2024, and closed on 25 Jul 2024
IPO allotment for V L Infraprojects was finalized on Friday, 26 Jul 2024
IPO listing for V L Infraprojects was on NSE on Tuesday, 30 Jul 2024
V L Infraprojects IPO LISTING GAINS
| Issue Price (adjusted) | 42.0 |
| Listing Open Price | 79.8 |
| Listing Close Price | 83.8 |
| Listing Gain% | 90.0% |
| Current Gain% | -30.8% |
V L Infraprojects 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| V L Infraprojects Ltd. | 29 | 45.6 | 5.4 | 0.3 | 0.3 | 16.8 | 8 | 150 | 23.8 | 8.5 | 20.7 | 5.4 | 20.7 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
V L Infraprojects INFORMATION ON IPO ISSUE
About V L Infraprojects
V.L.Infraprojects was incorporated on December 19, 2014. The company is engaged in executing water supply and sewerage infrastructure projects mainly involving the procurement of pipes and their laying, joining, and commissioning with backward integration including all allied civil engineering works like construction of civil work, pumping stations, and installation of electro-mechanical equipment for distribution of water supply from the river to household. It also provides operations & maintenance services for water distribution pipelines.
Object of the Issue
- To meet working capital requirements
- General corporate purposes
V L Infraprojects - PROMOTERS
| Name |
|---|
| Rajagopal Reddy Annam Reddy |
| Mydhili Rajagopal Reddy |
| Nageswara Rao Repuri |
V L Infraprojects Lead Manager to the Issue
Beeline Capital Advisors Private Limited
mb@beelinemb.com
V L Infraprojects Registrar to the Issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
V L Infraprojects Strengths
Focused player
The company has over nine years of extensive experience in successfully executing water supply projects comprising of construction and development of pipelines, water tanks, reservoirs, tunnels, overhead tanks, water treatment plants, and irrigation projects
End-to-end execution capabilities
The company's execution capabilities, comprising strong in-house operations consisting of design, engineering, procurement, construction, and quality assurance teams, are a critical factor that has contributed to the growth story
V L Infraprojects Risks
Geographically concentrated
The majority of the company's revenues are generated from the state of Gujarat. Any adverse development affecting the operations in this region could have an adverse impact on the business, financial condition, and results of operations
Outstanding litigation
The company has certain outstanding litigations against it, an adverse outcome of which may adversely affect the business, reputation, and results of operations
IPO FAQs
The promoters of the company are Rajagopal Reddy Annam Reddy, Mydhili Rajagopal Reddy and Nageswara Rao Repuri.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 39.0 - 42.0.
The IPO application opens on Jul 23, 2024 and closes on Jul 25, 2024.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 117,000.0, the maximum value for this IPO is Rs 126,000.0.
This IPO will be allotted on Jul 26, 2024.
The refund will be credited to your account on Jul 29, 2024.
The allotted shares will be credited to your demat on Jul 29, 2024.
V L Infraprojects Ltd.’s shares listed on the stock exchanges on Jul 30, 2024.