Theranautilus Secures $1.2 Mn in Seed...
19 Nov 2024
Following strong demand for its IPO, VVIP Infratech is set to finalize the share allotment today or tomorrow. Investors can check the allotment status on the Maashitla Securities website, the IPO's registrar.
The company's shares are trading at a ₹95 premium in the unlisted market, indicating potential gains of up to 90% on the expected listing date of July 30. The IPO, priced at ₹93 per share, raised ₹61 crore and was subscribed over 200 times.
The funds from the IPO will support working capital, capital expenditure, and general corporate purposes. VVIP Infratech specializes in civil and electrical infrastructure projects, including sewer systems, water treatment plants, and electrical substations.
The Indian market for water and wastewater treatment technologies is projected to grow from $0.92 billion in 2023 to $1.54 billion by 2028. For the fiscal year ending March 2024, VVIP Infratech reported revenues of ₹216 crore and a net profit of ₹17.78 crore.
Share India Capital is the lead manager for the IPO, with Maashitla Securities as the registrar.
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