Choice Capital Advisors celebrates 87 times IPO subscription of Vishnu Prakash R Punglia Ltd’s (VPRPL) shares

Aug 31st , Mumbai, India –  Choice Capital Advisors is celebrating the success of Vishnu Prakash R Punglia Limited (VPRPL)’s initial public offering wherein the issuer garnered over 87 times subscription of its equity shares on offer. VPRPL is a renowned infrastructure construction company from Rajasthan that had appointed Choice Capital Advisors as the lead Book Running Lead Manager (BRLM) for this IPO.

VPRPL, with more than 36 years of experience, specializes in executing Engineering, Procurement, and Construction (EPC) projects. The company is prominently recognized for its Water Supply Projects (WSPs) and is actively engaged in various infrastructure segments such as Railways, Roads, and Irrigation networks. Currently managing 51 projects valued at 3,799 crore rupees across 9 states and 1 union territory, VPRPL showcases a strong national presence.

Commenting on the celebration Mr. Arun Poddar- Choice International Limited said –“The success of Vishnu Prakash R Punglia Ltd. (VPRPL)’s IPO has been phenomenal in many ways. Choice Group’s decision to enter the capital market advisory business has got a flying start and it is a manifestation of our business strategy and acumen. The remarkable 87 times oversubscription is a testament to the investor community’s strong faith in VPRPL’s growth potential as well as our presentation of investment opportunity to the right audiences in the right markets at the right time.”

This is the maiden IPO on main board from Choice Capital Advisors which worked wonders. As the BRLM, Choice’s strategic guidance played a pivotal role in the resounding success of VPRPL’s IPO.

VPRPL’s IPO that opened on August 24 came to a close on August 28 as per SEBI norms. The IPO involved sale of shares in the range of Rs 94-99 aimed to raise Rs 308.61 crore. With this extraordinary subscription response, VPRPL marks a significant milestone in its growth journey.