V.L. Infraprojects IPO Allotment Update: After receiving a robust response from investors during the bidding period from July 23 to July 25, attention now turns to the allotment procedure for V.L. Infraprojects.
The allotment for the V.L. Infraprojects IPO is expected to be finalised today. Investors can monitor their allotment status through the registrar, Skyline Financial Services Private. Ltd.
With oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis. For those who do not receive an allotment, V.L. Infraprojects will commence the refund process for the application money on July 26, 2024.
Concurrently, allotted shares will be credited to investors’ demat accounts on the same day following the refund process. V.L. Infraprojects is an SME IPO, with shares slated to be listed on the NSE SME platform, tentatively scheduled for July 30, 2024.
Steps to check the V.L. Infraprojects IPO allotment status on the register’s website
If you have applied for the V.L. Infraprojects IPO, you can check your allotment status on the website of the IPO registrar.
Use the Skyline Financial Services URL, https://www.skylinerta.com/ipo.php to directly input your login details.
Step 1: Click the link above to visit the V.L. Infraprojects IPO.
Step 2: Pick the initial public offering from Dropbox; the name will only appear once the allocation is complete.
Step 3: Select the PAN, Demat Account, or Application Number to view the status.
Step 4: The screen will show the IPO status as well as the total number of shares allotted.
About V.L. Infraprojects
The company is engaged in executing water supply and sewerage infrastructure projects mainly involving the procurement of pipes and their laying, joining, and commissioning with backward integration, including all allied civil engineering works like the construction of civil work, pumping stations, and installation of electro-mechanical equipment (pumping machinery) for the distribution of water supply from the river to households. It also provides operations and maintenance services for water distribution pipelines.
The company began its operations by focusing on water pipeline projects in Gujarat. It has since expanded its services to encompass all aspects of road construction, irrigation, water infrastructure, and environmental projects. The company has a locational presence in the states of Madhya Pradesh, Telangana, Maharashtra, and Gujarat.
It generates a majority of its revenue from water pipeline construction, including O&M Services, which in FY24 accounted for 80%, according to the company’s DRHP report.
V.L. Infraprojects IPO details
The IPO size of V.L. Infraprojects was ₹18.52 crore, consisting of 44.1 lakh newly issued shares. The IPO price was set in the range of ₹39 to ₹42 per share. Beeline Capital Advisors Pvt. Ltd. is the bookrunner and lead manager of the V.L. Infraprojects IPO, and the market maker for the V.L. Infraprojects IPO is Spread X Securities.
The company proposes that proceeds from the fresh issue will be utilised to meet working capital requirements and general corporate purposes.
V.L. Infraprojects IPO subscription status
The V.L. Infraprojects IPO saw robust demand, being subscribed to over 636 times. In monetary terms, the IPO attracted bids worth ₹7,807 crore.
The retail category was subscribed to 844 times, with bids for 1,23,34,11,000 shares against the offered 1,461,000 shares, according to Chittorgarh. While the NII and QIB portions were subscribed to 726 and 203 times, respectively.
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