V R Infraspace Limited has set the price band for its Initial Public Offering (IPO) at ₹85 per share, with a face value of ₹10 each. The IPO subscription window is scheduled to open on Monday, March 4, and will close on Wednesday, March 6. Each lot of the V R Infraspace IPO comprises 1,600 shares, and investors can bid for a minimum of 1,600 shares, with multiples thereof. The issue price stands at 8.50 times the face value.
V R Infraspace Limited, headquartered in Vadodara, Gujarat, specializes in construction and real estate development, focusing on residential and commercial projects. The company caters to both middle-class and upper-class consumers, offering a diverse portfolio of residential apartments at reasonable prices.
The residential buildings developed by V R Infraspace boast various amenities, including playgrounds, sports facilities, security systems, and backup electricity.
According to the red herring prospectus (RHP), the company’s listed peers include Samor Reality (with a P/E of 135.23) and Laxmi Goldorna House Ltd (with a P/E of 343.68).
Between March 31, 2022, and March 31, 2023, V R Infraspace Limited witnessed a significant increase in profit after tax (PAT) by 229.16%, accompanied by a revenue growth of 35.16%.
The V R Infraspace IPO, valued at ₹20.40 crore, consists entirely of a fresh issue of 2,400,000 equity shares with a face value of ₹10 each. The proceeds from the IPO will be allocated towards various purposes, including meeting working capital requirements, funding the subsidiary M/s Narnarayan Enterprise, covering issue expenses, and general corporate purposes.
Link Intime India Private Ltd serves as the registrar for the V R Infraspace IPO, while Beeline Capital Advisors Pvt Ltd acts as the book running lead manager. Spread X Securities has been appointed as the market maker for the offering.
Currently, the grey market premium (GMP) for V R Infraspace IPO stands at ₹0, indicating that shares are trading at the issue price of ₹85 with no premium or discount, as per investorgain.com. Grey market premium reflects investor sentiment regarding willingness to pay above the issue price.
