Vishnu Prakash R Punglia IPO - Investment Rationale, Issue Details, Financials, Concerns: Nirmal Bang

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang's IPO Report.Vishnu Prakash R Punglia Ltd.'s maiden public issue will open on August 24 and close on August 28. An Engineering, procurement and construction company has fixed a price band of Rs 94-99 Apiece..Objects and details of the issue: The public issue consists of fresh issue of equity shares aggregating upto Rs 309 crore. The net proceeds from the fresh issue will be utilised towards: Funding working capital requirements (Rs 150 crore) and capex for purchase of equipments/machineries (Rs 62 crore)..Investment Rationale: Strong tailwinds in infrastructure to support growth.Focused player in Water Supply Projects.Diversification towards other segments.In-house integrated model.Track record of strong growth; Robust order book provides visibility for future growth as well..Valuation and Recommendation:Vishnu Prakash R Punglia’s niche focus on water supply projects, low revenue base and demonstrated track record of high growth with margin expansion along with reasonable valuations makes the issue attractive compared to listed peers. With strong industry tailwinds likely to persist in water related projects, railways and roads, we believe Vishnu Prakash R Punglia is a decent proxy play on the infrastructure industry offering high growth with good profitability. Thus we recommend to 'Subscribe' to the IPO..Click on the attachment to read the full IPO report:.Vishnu Prakash R Punglia IPO To Open On Aug. 24; Price Band Set At Rs 94-99 Apiece.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Vishnu Prakash R Punglia IPO - Investment Rationale, Issue Details, Financials, Concerns: Nirmal Bang

Vishnu Prakash R Punglia's maiden public issue will open on August 24 and close on August 28.

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