|
PNN
Mumbai (Maharashtra) [India], September 29: VishnusuryaProjects and Infra Limited,one of theleading playersin the fields of construction, infrastructure development, mining,andaggregates,has announced its plansto go public with an Initial Public Offering (IPO)openingon September 29, 2023. The Company is aiming to raise4,998.00Lakhs through this IPO, withthe equitysharesproposedto be listed on the Emerge platformof National Stock Exchange of India Limited (NSEEmerge).TheIPO constitutes afresh issueof73,50,000equity sharesofface value of10each. Equity Share Allocation Market Maker portion 3,70,000Equity Shares Retail Individual Investors (RII) 34,90,000Equity Shares Non-Institutional Investors (NII) 34,90,000 Equity Shares The net proceeds from the IPO will be utilised for funding the Companys working capitalrequirements, repaying or prepaying outstanding borrowings, andforgeneral corporate requirements. The Issue will close on05thOctober, 2023. The Lead Manager to the Issue isKhandwalaSecurities Limited. The Registrar to the Issue isCameo Corporate Services Limited. Sanal Kumar V, Whole Time Director & CEO of Vishnusurya Projects and Infra Limited said, " We have executed a diverse range of construction and infrastructure projects, benefiting from our over two decades of experience and the government's emphasis on infrastructure. The application of newer technologies enhances our capabilities in handling intricate infrastructure projects. Additionally, our utilization of state-of-the-art crusher plants and crusher sand plants gives us a production advantage in the Mining division. IPO funding will provide us with necessary working capital requirements which will allow us to take upmorenumber of projects and achieve our long-term vision of becoming a leading infra company. Additionally, the IPO will also enhance our visibility and brand." Rinav Manseta, Associate Director of Khandwala Securities Limited said, " With the continuous emphasis of the government on infrastructure development in the country, there exists a significant opportunity for companies like Vishnusurya. Given their established track record and IPO funding, the company is clearly poised for substantial growth in the years to come. With its impressive capabilities, Vishnusurya is set to excel further in the field of infrastructure." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
|
