VVIP Infratech IPO: Listed at ₹176.70 with a 90% Premium on BSE SME

VVIP Infratech IPO had an impressive launch on the BSE SME today, starting at ₹176.70 per share, which is a 90% increase from the issue price of ₹93.

VVIP Infratech IPO was priced between ₹91 and ₹93 per share, with each share having a face value of ₹10. Investors could bid in multiples of 1,200 shares, with a minimum bid of 1,200 shares. The IPO subscription period ran from Tuesday, July 23, to Thursday, July 25, and by the final day, the subscription rate had reached 236.92 times.

VVIP Infratech specializes in the planning, development, and construction of infrastructure projects, including water tanks, sewage treatment plants, sector development, Jal Jeewan Mission work, and electrical distribution and substations up to 33 KVA. In 2013, the company built two 56 MLD sewage treatment plants using Sequential Batch Reactor (SBR) technology. The company's promoters are Vaibhav Tyagi, Vibhor Tyagi, and Praveen Tyagi.

VVIP Infratech IPO details

The VVIP Infratech IPO, valued at ₹61.21 crore, consists of a fresh issuance of 6,582,000 equity shares, each with a face value of ₹10. Notably, there is no "offer for sale" component included.

The proceeds from the IPO will be allocated to various purposes: covering the expenses of the issue, fulfilling working capital requirements, funding capital expenditures, and addressing general corporate needs.

Share India Capital Services Private Ltd is the book running lead manager for the VVIP Infratech IPO, while Maashitla Securities Private Ltd serves as the registrar for the offering. Read about 

To Summarize

VVIP Infratech shares had an outstanding debut on the BSE SME today, opening at ₹176.70 per share, which is 90% above the issue price of ₹93. The initial public offering (IPO) for VVIP Infratech was set within a price range of ₹91 to ₹93 per share, with each share having a face value of ₹10. The funds raised from this offering will be used to cover the issue expenses, meet working capital requirements, finance capital expenditures, and support general corporate purposes.