VVIP Infratech shares made a robust start on their stock market debut on July 30, after listing at Rs 176, a premium of 90 percent over the issue price of Rs 93 on the BSE SME platform.
With an investment of Rs 1,11,600 (1 lot size of 1,200 shares), the profit per lot for the VVIP Infratech IPO is Rs 1,00,440.
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The Rs 61.21-crore public offer, which is a fresh issue of 65.82 lakh shares, received robust investor interest as the issue was subscribed over 236 times. NIIs were at the forefront, buying 457 times their allotted quota. Retail investors followed, purchasing 191 times their portion. QIBs bought 168 times of the allotted portion.
VIP Infratech focuses on a variety of infrastructure projects, including sewerage systems, sewage treatment plants, water tanks, water treatment plants, sector development, power distribution, and substations up to 33 kVA, as well as initiatives under the Jal Jeevan Mission.
The company plans to utilise the proceeds from the issue to achieve several key objectives, including capital expenditure, meeting working capital requirements, addressing general corporate purposes, and covering issue expenses.
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