SME IPO: VL Infra issue closes today; check GMP, subscription status & more

The initial public offering (IPO) of V.L. Infraprojects continues to receive a massive response from investors as the public issue has been subscribed a whopping 179 times by the second day of subscription. The three-day subscription period to apply for the VL Infra IPO, which opened on Tuesday, July 23, 2024, closes today.

VL Infra IPO has been subscribed 292.84 times in the retail category and 140.48 times in the NII category, while the QIB category has received a subscription of 9.31 times as of July 24, 2024.

VL Infra IPO details

The VL Infra IPO comprises a fresh issue of 4,410,000 shares, aggregating up to Rs 18.52 crore. The public issue is available with a price band of Rs 39 - Rs 42 per share and a lot size of 3000 shares. Investors can bid for a minimum of 3000 shares of VL Infra IPO and in multiples thereof. The minimum amount required by a retail investor to apply for VL Infra IPO is Rs 1,26,000.

VL Infra IPO GMP

The unlisted shares of VL Infra are commanding a strong premium in the grey markets on Thursday. As per several websites that track grey market activities, VL Infra IPO shares are trading at a GMP of Rs 38-67 or 90 per cent - 159 per cent at the upper hand of the IPO price. This indicates solid listing gains for investors.

VL Infra IPO allotment, listing date

The basis of allotment of the VL Infra IPO shares is scheduled for Friday, July 26, 2024, while the shares are likely to be credited to Demat accounts on Monday, July 29, 2024. The tentative listing date of VL Infra IPO is Tuesday, July 30, 2024. The company's shares will be listed on the NSE SME.

VL Infra IPO anchor book

Skyline Financial Services Private Ltd is the registrar for the VL Infra IPO, while Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the public issue. The VL Infra promoters include Rajagopal Reddy Annam Reddy, Nageswara Rao Repuri, and Mydhili Rajagopal Reddy. VL Infra has already raised Rs 5.24 crore from anchor investors on Monday, July 22, 2024.

VL Infra IPO objective

The company intends to use the net proceeds from the public issue to meet working capital requirements and for general corporate purposes.

About V.L. Infraprojects Limited

Formerly known as V.L. Infrastructures, V.L. Infraprojects is a leading infrastructure development company. V.L. Infraprojects specialises in the construction of Residential Buildings, Roads, Irrigation, Water supply, and Gas Supply. The market capitalisation of VL Infra IPO stands at Rs 65.99 crore.