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- Vishnusurya Projects and Infra Ltd
Vishnusurya Projects and Infra Ltd
Vishnusurya Projects are engaged in mining of rough stones and manufacturing of aggregates & Manufacture-sand by using Crushing Plants and Sand washing plants. In addition to mining activities, they are engaged in EPC Projects across all key sectors such as water, transportation, rail, resource, and institutional development.
Their scope of services includes detailed engineering of the project, procurement of key materials, and project execution at the sites with overall project management up to the commissioning of these projects. The Company executed and delivered multiple real estate projects in the past, such as construction of villas, multi storied apartments, specific contracts like compound wall, renovation works, site formation, etc. and design and construction of various infrastructure projects for the government, autonomous and private bodies in state of Tamil Nadu. It is engaged in buying, selling and providing integrated solutions for Drones as a Service for surveillance, mapping and surveying purposes.
The Company completed key projects across diverse market segments and have diversified exposures across property, civil, infrastructure, mining, and aggregates sectors. It acquired a fleet of machinery and equipment to support the execution of EPC project and mining activities. Some key projects completed by the Company include Construction of Compound Wall between Thiruvallikeni and Thirumailai Railway Stations; Construction of Staff Quarters / T-Type Quarters at Egmore, Chennai for Southern Railways; Construction of Office Building of Institute of Dairy Research Centre, Almatti, at Koduvalli, Tiruvallur District for the Public Works Department (PWD); Construction of Retaining Wall for Bridge at Perambur for Corporation of Chennai; etc.
The Company is proposing a Public Offer by raising capital of Rs 500 Crore Fresh Issue Equity Shares.
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Vishnusurya Projects and Infra Ltd IPO Timeline
Vishnusurya Projects and Infra Ltd IPO opens on 29-Sep-2023, and closes on 05-Oct-2023. The Vishnusurya Projects and Infra Ltd IPO bid date is from 29-Sep-2023 to 05-Oct-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Vishnusurya Projects and Infra Ltd IPO Opening Date | 29-Sep-2023 |
| Vishnusurya Projects and Infra Ltd IPO Closing Date | 05-Oct-2023 |
| Basis of Allotment | 10-Oct-2023 |
| Initiation of Refunds | 11-Oct-2023 |
| Credit of Shares to Demat | 11-Oct-2023 |
| Vishnusurya Projects and Infra Ltd IPO Listing Date | 10-Oct-2023 |
Vishnusurya Projects and Infra Ltd IPO Lot Size
Vishnusurya Projects and Infra Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 136000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹136000 |
| Maximum | 1 | 2000 | ₹136000 |
Vishnusurya Projects and Infra Ltd IPO Details
| Vishnusurya Projects and Infra Ltd IPO Date | 29-Sep-2023 to 05-Oct-2023 |
| Vishnusurya Projects and Infra Ltd IPO Face Value | Shares of ₹10 per share |
| Vishnusurya Projects and Infra Ltd IPO Price | ₹68 per share |
| Vishnusurya Projects and Infra Ltd IPO Lot Size | 2000 |
| Issue Size | Shares of ₹10 (aggregating up to ₹49.98 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹49.98 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Bhavani Jayaprakash. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Funding of working capital requirements of the company
- 2 Repayment/prepayment in part or full of certain outstanding borrowings availed by the company
- 3 General Corporate Purposes
Company Financials
Vishnusurya Projects and Infra Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2023 | 117.80 | 133.26 | 17.37 |
| 03-2022 | 114.58 | 96.43 | 21.59 |
| 03-2021 | 76.00 | 63.39 | 2.29 |
| Amount in ₹ Crore | |||
- Experienced Promoter & Management Team.
- Focused on Infrastructure Projects.
- Visible growth with strong order book.
- Industry experience with strong execution capabilities.
- Strong Financial Performance.
- The company does not own certain premises, including the registered office, used by the Company. Disruption of its rights as licensee/ lessee or termination of the agreements with the company licensors/ lessors would adversely impact its operations and, consequently, the company business.
- There are certain outstanding litigations against the Company and by the Company, which if determined against it, could adversely impact its financial conditions.
- There are outstanding litigations against the Group Company and by the Group Company which if determined against it, could adversely impact its financial conditions.
- The Company has reported certain negative cash flows from its operating, investing, and financing activities. Any operating losses or negative cashflows in the future could adversely affect the company results of operations and financial condition.
- There have been instances of delays in payment of statutory dues, i.e. EPFO and ESIC, the Company.
- There have been certain instances of regulatory non-compliances or delays or errors in the past. The company may be subject to regulatory actions and penalties for any such non-compliance or delays or errors and its business, financial condition and reputation may be adversely affected.
- The company is subject to various laws and regulations, including environmental and health and safety laws and regulations. If its fail to obtain, maintain or renew the licenses, permits and approvals required to operate the company business, or fail to comply with applicable laws, its business, results of operations and financial condition may be adversely affected.
- Most of the company businesses are operated in and from the state of Tamil Nadu. Due to this geographic concentration of its business operations, the company results of operations and growth might be restricted to the economic and demographic conditions of Tamil Nadu.
- The auditors' report on the company financial statements contains certain qualifications and matters of emphasis included in the annexure to the auditors' reports issued under Companies.
- The Company has loans which are repayable on demand.
- The company has entered into certain transactions with related parties. These transactions or any future transactions with its related parties could potentially involve conflicts of interest.
- The Company has several contingent liabilities and commitments, which if materialised, could affect its financial position.
- Projects included in the company order book and its future projects may be delayed, modified or cancelled for reasons beyond of the control which may materially and adversely affect the company business, prospects, reputation, profitability, financial condition and results of operation.
- The company requires certain approvals and licenses in the ordinary course of business, some of the approvals require to be updated with the new registered office of the Company. Any failure to successfully obtain/renew/update such registrations may adversely affect its operations, results of operations and financial condition.
- The company presently do not own the trademark or logo under which its currently operate and if third parties infringe the trademark, logo and intellectual property that the company use, its business and reputation would be adversely affected.
- The company may not be able to generate or obtain the capital its need for further expansion.
- The company agreements with various banks for financial arrangements contain restrictive covenants for certain activities and if the company is unable to get their approval, it might restrict its scope of activities and impede the company growth plans.
- The requirements of being a listed company may strain its resources and impose additional requirements.
- The company may be unable to enforce its rights under some of the company agreements on account of inadequate stamping and not registering the agreements or other reasons.
- The company may not be able to successfully manage the growth of its operations and execute the company growth strategies which may have an adverse effect on its business, financial condition, results of operations and future prospects.
- The company ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- The deployment of funds is entirely at the company discretion and as per the details mentioned in the chapter titled "Objects of the Issue".
- Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by the company Promoter may adversely affect the trading price of the Equity Shares.
- The company is required to furnish bank guarantees as part of its business. The company inability to arrange such guarantees or the invocation of such guarantees may adversely affect its cash flows and financial condition.
- The company operates in a competitive industry and its failure to successfully compete may adversely affect the company business, financial condition and results of operations, and prospects.
- The Company depends on the knowledge and experience of the Promoter and other Key Managerial Personnel for its growth. The loss of their services may have a material adverse effect on the company business, financial condition and results of operations.
- The average cost of acquisition of Equity Shares held by the company Promoter could be lower than the Issue Price.
- The company's business is capital intensive. If its experience insufficient cash flows to meet required payments on the company debt and working capital requirements, there may be an adverse effect on the results of its operations.
- Any inability to maintain its equipment assets or manage the company employees or inadequate workloads may cause underutilization of its workforce and equipment bank, and such underutilization could reduce the company ability to sweat its assets which may have an impact on the company profitability.
- Increase in the prices of construction materials, fuel, labour and equipment could have an adverse effect on the company business, results of operations and financial condition.
- Obsolescence, destruction, theft, breakdowns of the company major plants or equipment or failures to repair or maintain the same may adversely affect its business, cash flows, financial condition and results of operations.
- The company Promoter and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs; their interests may conflict with your interests as a shareholder.
- In addition to the company existing indebtedness for its existing operations, the company may incur further indebtedness during the course of business. The company cannot assure that its would be able to service the company existing and/ or additional indebtedness.
- Compliance with, and changes in, environmental, health and safety laws and regulations or stringent enforcement of existing environmental, health and safety laws and regulations may result in increased liabilities and increased capital expenditures may adversely affect the company cash flows, business results of operations and financial condition.
- The company Promoters, Directors and Promoter Group members/entities have provided personal guarantees for loan facilities obtained by the Company Revocation of any or all of these personal guarantees or withdrawal of such property may adversely affect its business operations and financial condition.
- Some of the company Group Companies have incurred losses and has a negative net worth in past financial years.
- The company relies on its information technology systems for the company operations and its reliability and functionality is critical to the success of the company business. In the event of any failures in its information technology systems, it may have a material adverse impact on the company operations and financial condition.
- Maintain focus on infrastructure projects.
- Expansion of its geographical footprint.
- The Company intends to enter into joint venture arrangements with other infrastructure companies to bid and execute large value projects.
- Leverage core competencies with enhanced in-house integration.
- Diversification of business activities.
- Strategic location of Mines and crusher Plant.
Vishnusurya Projects and Infra Ltd IPO Promoter Holding
| Pre Issue Share Holding | 86.66% |
| Post Issue Share Holding | 60.78% |
Vishnusurya Projects and Infra Ltd IPO Subscription Status (Bidding Detail)
The Vishnusurya Projects and Infra Ltd IPO is subscribed - times on Oct 05, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | - |
Vishnusurya Projects and Infra Ltd IPO Prospectus
Vishnusurya Projects and Infra Ltd IPO Listing Date
| Listing Date | 10 Oct 23 |
| BSE Script | 91873 |
| NSE Symbol | VISHNUINFR |
| Listing In | NSE - SME |
| ISIN | INE0PQ001012 |
| IPO Price | ₹68 |
| Face Value | ₹10 |
Vishnusurya Projects and Infra Ltd IPO Registrar
Cameo Corporate Services Ltd
Phone: +91 44 40020741/40020706/
Email: investor@cameoindia.com
Website: www.cameoindia.com
Vishnusurya Projects and Infra Ltd IPO Lead Manager(s)
- Khandwala Securities Ltd
FAQs on Vishnusurya Projects and Infra Ltd IPO
Vishnusurya Projects and Infra Ltd IPO, which opens for subscription from 29-Sep-2023 to 05-Oct-2023 has an issue size of ₹49.98 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Vishnusurya Projects and Infra Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Vishnusurya Projects and Infra Ltd IPO Opens for subscription from 29-Sep-2023 to 05-Oct-2023.
The lot size of Vishnusurya Projects and Infra Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹136000 and ₹136000 respectively.
Allotment date for Vishnusurya Projects and Infra Ltd is 10-Oct-2023 and refund of application amount (in case allotment is not received) will begin from 11-Oct-2023. If your allotment goes through, then shares will be credited in your Demat account by 11-Oct-2023.
The registrar for Vishnusurya Projects and Infra Ltd IPO is Cameo Corporate Services Ltd. You can check your IPO allotment status on the registrar's website.
The shares of Vishnusurya Projects and Infra Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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