V.L. Infraprojects IPO Subscription Status

V. L. Infraprojects IPO - Day-3 Subscription at 633.63 times

On July 25, 2024, the V.L. Infraprojects IPO received bids for 1,85,14,53,000 shares, well beyond the 29,22,000 shares offered. It means V.L. Infraprojects IPO was oversubscribed by 633.63 times by the end of the 3rd day.
Here are the subscription details for V.L. Infraprojects IPO as of Day 3:

V.L. Infraprojects IPO saw the most interest from retail investors, followed by Non Institutional Investors (NII) and High Net Worth Individuals (HNI) and then Qualified Institutional Buyers (QIB). Usually, QIB and NII/HNI subscriptions increase on the final day, with large HNI and corporate bids coming in then. Institutional bids are also often concentrated on the last day. Final subscription numbers don’t include anchor investor portion or the market making segment.

Here are the details of the subscription by category.

Data Source: NSE

V.L.Infraprojects Limited, founded in 2014 focuses on planning, construction and commissioning services for government projects, especially in water infrastructure and irrigation. They handle water supply and wastewater infrastructure projects including the procurement, laying and commissioning of pipes, as well as civil engineering works like pumping stations and the installation of electro mechanical equipment for water distribution. Its listed peer, according to the RHP is EMS Ltd with a P/E ratio of 13.92.
 

V. L. Infraprojects IPO - Day-2 Subscription at 178.60 times

On July 24, 2024, V.L. Infraprojects IPO saw bids for 52,186,2000 shares, surpassing the 29,22,000 shares available in the offering. This resulted in an overall subscription rate of 178.60 times by the end of Day 2 of the IPO. The subscription details for the V.L. Infraprojects IPO as of the end of Day 2 are as follows:

The IPO subscriptions were mainly driven by retail investors, followed by Non Institutional Investors (NII)/High Net Worth Individuals (HNI) and then Qualified Institutional Buyers (QIB). Generally, QIB and NII/HNI subscriptions surge on the final day, with HNI bids typically increasing due to large HNI and corporate bids. Institutional bids are also usually concentrated on the last day. Here are the category wise subscription details.

Data Source: NSE

V.L.Infraprojects IPO opened for bidding on July 23 and will close on July 25. Share allotment is expected to be finalized by 26 July and stock is set to list on NSE SME platform on Tuesday, 30 July.  The IPO price range is set between ₹39 and ₹42 per share. Retail investors need to buy at least 3,000 shares, which requires a minimum investment of ₹1,26,000. High Net Worth Individuals (HNIs) must apply for at least 2 lots, totaling ₹2,52,000. Beeline Capital Advisors is the lead manager for this IPO and Skyline Financial Services Private Ltd. is the registrar. Spread X Securities is appointed as the market maker for the IPO. 
 
The IPO allocation is divided as follows, no more than 50% for qualified institutional buyers (QIBs), at least 15% for non institutional investors (NIIs) and at least 35% for retail investors. Up to 2,40,000 equity shares are reserved for the market maker portion. 

V.L.Infraprojects Limited, founded in 2014 focuses on planning, construction and commissioning services for government projects, especially in water infrastructure and irrigation. They handle water supply and wastewater infrastructure projects including the procurement, laying and commissioning of pipes, as well as civil engineering works like pumping stations and the installation of electro mechanical equipment for water distribution.