Mumbai, ,22nd August 2023:Jodhpur-based Vishnu Prakash R Punglia Limited is an integrated Engineering, Procurement and Construction (“EPC”) company, which specializes in water supply projects (WSP) has fixed the price band at ₹94to ₹99per Equity Share for its maiden public offer. The initial public offering (“IPO” or “Offer”) of the Company will open on Thursday, August 24, 2023, for subscription and closes on Monday, August 28, 2023. Investors can bid for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter.

The Public Issue of face value of ₹10 per Equity Share is entirely a fresh issuance of equity shares up to 31,200,000.

Led by Promoter Vishnu Prakash Punglia, the EPC Company has a strong operational understanding with a consistent track record in carrying out infrastructure projects for over three decades. It owns a fleet of about four hundred and ninety-nine construction equipment assets which includes including crushers, excavators, loaders, dozers, paver machines, ready mix concrete plants, concrete mixtures, cranes, tractors and transportation vehicles from some of the leading suppliers.

Its major activities include constructing, designing, building, implementing, operating, maintaining and developing Water Supply Projects (WSPs) including Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for supply of water, as well as other projects such as Roads, Bridges, Tunnels, Warehouses, Buildings, Railway Buildings including platforms, stations, quarters, administrative buildings, Rail-Over-Bridges and Waste Water Treatment Plants (WWTPs). It also undertakes operations and maintenance services.

The Company’s revenue from operations has increased from ₹4,857.31 million in financial year ended March 31, 2021 to ₹7,856.13 million in financial year ended March 31, 2022 and further to ₹11,684.04 million in financial year ended March 31, 2023 showcasing a CAGR of 55.1%, profit after tax stood at Rs 90.6 crore, whereas EBITDA margin stood at 13.7%.

Choice Capital Advisors Private Limited and Pantomath Capital Advisors Private Limited are the book running lead managers and Link Intime India Private Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.

DISCLAIMERS:VISHNU PRAKASH R PUNGLIALIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an Initial Public Offer (“IPO”) of its Equity Shares and has filed the Red Herring Prospectus (”RHP”) dated August 17, 2023 with RoC. The RHP is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e., BSE at www.bseindia.com and NSE at www.nseindia.com and is available on the websites of the Book Running Lead Managers (“BRLMs”), i.e. Choice Capital Advisors Private Limited at www.choiceindia.com and Pantomath Capital Advisors Private Limited at www.pantomathgroup.com. Potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section titled “Risk Factors” on page 46 of the RHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. Specified attention of the investors is invited to “Risk Factors” on page 49 of the DRHP and page 46 of the RHP.

DISCLAIMER CLAUSE OF SEBI: It is to be distinctly understood that submission of the Red Herring Prospectus (“RHP”) to the Securities and Exchange Board of India (SEBI) should not in any way be deemed or construed that the same has been cleared or approved by SEBI. SEBI does not take any responsibility either for the financial soundness of any scheme or the project for which the issue is proposed to be made or for the correctness of the statements made or opinions expressed in the RHP. The lead managers, has certified that the disclosures made in the RHP are generally adequate and are in conformity with the Regulations. This requirement is to facilitate investors to take an informed decision for making investment in the proposed issue.The investors are advised to refer to pages 434 of the RHPfor the full text of the disclaimer clause of SEBI.

DISCLAIMER CLAUSE OF BSE:

“BSE Limited (“the Exchange”) has given vide its letter dated June 06, 2023, permission to this Company to use the Exchange’s name in this offer document as one of the stock exchanges on which this company’s securities are proposed to be listed. The Exchange has scrutinized this offer document for its limited internal purpose of deciding on the matter of granting the aforesaid permission to this Company. The Exchange does not in any manner: –

a) warrant, certify or endorse the correctness or completeness of any of the contents of this offer document; or b) warrant that this Company’s securities will be listed or will continue to be listed on the Exchange; or c) take any responsibility for the financial or other soundness of this Company, its promoters, its management or any scheme or project of this Company and it should not for any reason be deemed or construed that this offer document has been cleared or approved by the Exchange. Every person who desires to apply for or otherwise acquires any securities of this Company may do so pursuant to independent inquiry, investigation and analysis and shall not have any claim against the Exchange whatsoever by reason of any loss which may be suffered by such person consequent to or in connection with such subscription/acquisition whether by reason of anything stated or omitted to be stated herein or for any other reason whatsoever”.

DISCLAIMER CLAUSE OF NSE (the Designated Stock Exchange):

“As required, a copy of this Offer Document has been submitted to National Stock Exchange of India Limited (hereinafter referred to as NSE). NSE has given vide its letter Ref.: NSE/LIST/2317 dated June 08, 2023, permission to the Issuer to use the Exchange’s name in this Offer Document as one of the Stock Exchanges on which this Issuer’s securities are proposed to be listed. The Exchange has scrutinized this draft offer document for its limited internal purpose of deciding on the matter of granting the aforesaid permission to this Issuer. It is to be distinctly understood that the aforesaid permission given by NSE should not in any way be deemed or construed that the offer document has been cleared or approved by NSE; nor does it in any manner warrant, certify or endorse the correctness or completeness of any of the contents of this offer document; nor does it warrant that this Issuer’s securities will be listed or will continue to be listed on the Exchange; nor does it take any responsibility for the financial or other soundness of this Issuer, its promoters, its management or any scheme or project of this Issuer.