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Today Date : Friday, June 14, 2024

Look forward to delivering better results year after year

Look forward to delivering better results year after year

The Chennai-based Vishnusurya Projects and Infra Limited, among the leading players in the fields of construction, infrastructure development, mining, and aggregates in South India, has made its debut on NSE Emerge at Rs. 76 per share, nearly 12% higher than the issue price of Rs. 68. 

The company’s Initial Public Offering (IPO) opened for subscription on Friday, September 29, and closed on Thursday, October 5. The IPO, based on a fresh issue of 73,50,000 equity shares, garnered an overwhelming oversubscription rate of 44 times. The stock traded with a volume of 31,44,000 shares. Concluding its IPO, the company has raised Rs. 49.98 crore. 

The company’s debt equity ratio is close to one. In the recently concluded financial year (2022-23), the company registered a turnover of Rs. 135 crore. Khandwala Securities Limited was the lead manager of the issue, while Saffron Capital Advisors Private Limited and TRANS Corporate Advisory served as IPO advisors. 

In their comments, Mr. S. Neelakantan, and Mr. V. Sanal Kumar, Directors thanked the investors for their overwhelming support saying “We are a dedicated team of construction experts, service providers, contractors, suppliers, and consultants. We look forward to delivering better results year after year,” they added.