VL Infraprojects IPO booked over 630 times on day 3: Check allotment status and listing date

The initial public offer (IPO) of VL Infraprojects saw significant investor interest on the third and final day of bidding, on Thursday, July 25, as the issue was subscribed over 630 times.

The NSE SME IPO received bids for over 185 crore shares against 29.22 lakh shares on offer, leading to an overall subscription of a whopping 633.7 times.

The VL Infraprojects IPO is a book-built offering valued at ₹18.52 crore. It comprises an entirely fresh issue of 44.1 lakh shares and is slated for listing on the NSE SME platform.

VL Infraprojects IPO category-wise bidding

The VL Infraprojects IPO saw strong demand across all categories. The retail category was booked 839.49 times with applications for 122.65 crore shares against 14.61 lakh shares on offer for the segment.

Non-institutional investors (NIIs) also showed substantial interest in the IPO, as the portion reserved for the category was booked 726.11 times. NIIs placed bids for 45.52 crore shares against 6.27 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) portion was subscribed 203.73 times with demand for 1.99 crore shares compared to 8,34,000 shares available for the segment.

VL Infraprojects IPO dates and other details

The VL Infraprojects IPO subscription was open from July 23- July 25. The IPO share allotment status is expected to be determined on Friday, July 26. The company will initiate refunds to unsuccessful bidders on July 29. On the same day, shares will also be credited to the Demat accounts of successful applicants. The IPO listing date has been tentatively scheduled as July 30.

VL Infraprojects IPO price band, lot size and other details

The VL Infraprojects IPO price band was set between ₹39 and ₹42 per share. The minimum lot size for an application was 3,000 shares, aggregating to an investment of ₹1,26,000. On the other hand, for high net-worth individuals (HNIs), the minimum investment was two lots, or 6,000 shares, amounting to ₹2,52,000.

VL Infraprojects IPO is a book-building issue worth ₹18.52 crore. The public offer comprised an entirely fresh issue of ₹44.1 lakh shares. The IPO offer size included a market maker portion of 2,40,000 shares and an anchor allocation of 12.48 lakh shares.

For the VL Infraprojects IPO, Beeline Capital Advisors Pvt Ltd is acting as the book-running lead manager, while Skyline Financial Services Private Ltd has been designated as the registrar. Spread X Securities has been appointed as the public issue’s market maker.

VL Infraprojects promoters

Before the IPO, the company’s promoters, Rajagopal Reddy Annam Reddy, Mydhili Rajagopal Reddy and Nageswara Rao Repuri, collectively owned a 90.91% stake in the company. Following the issue, their shareholding will be diluted to 65.39%.

VL Infraprojects IPO objectives

VL Infraprojects will use IPO proceeds to address the company’s working capital needs and for general corporate purposes.

About VL Infraprojects

VL Infraprojects Limited was founded in 2014 and specialises in government project planning, construction and commissioning, with a focus on irrigation and water infrastructure. The company carries out infrastructure projects related to wastewater and water supply, which include pipe procurement, installation, commissioning and laying. The company also offers water pipeline operation and maintenance (O&M) services.