Vishnusurya Projects and Infra Ltd Share Price – NSE

Mining & Mineral products, Small Cap

Vishnusurya Projects and Infra announced that the Board of Directors of the Company at its meeting held on 14 November 2023, inter alia, have recommended the interim dividend of Rs 1 per equity Share (i.e. 10%) , subject to the approval of the shareholders.

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Vishnusurya Projects and Infra will hold a meeting of the Board of Directors of the Company on 14 November 2023.

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The scrip was listed at Rs 73, up 7.35% over the initial public offer (IPO) price. The stock was currently frozen at an upper limit of 5% from its listing price.

The counter hit a high of Rs 76.65 and a low of Rs 73. About 30.98 lakh shares of the company changed hands at the counter.

Vishnusurya Projects and Infra's IPO was subscribed 38.01 times. The issue opened for bidding on 29 September 2023 and it closed on 5 October 2023. The price band of the IPO was fixed at Rs 68 per share.

The issue size comprised of fresh issue of 73,50,000 equity shares, aggregating upto Rs 49.98 crore. The promoter and promoter group shareholding will dilute to 62.24% post IPO from 88.74% pre-IPO.

The company intends to utilize the net proceeds from the issue for funding of working capital requirements of the company. The proceeds will also be utilized for repayment/ prepayment, in part or full, of certain outstanding borrowings availed by the firm and general corporate purposes.

Vishnusurya Projects and Infra is 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, the company is engaged in EPC projects (construction and infrastructure) delivered across all key sectors such as water, transportation, rail, resource, and institutional development.

Additionally, the company is also engaged in buying, selling and providing integrated solutions for Drones as a Service for surveillance, mapping and surveying purposes. As on 31 August 2023, the company had 285 employees.

The company recorded revenue from operations of Rs 133.26 crore and net profit of Rs 16.58 crore for the period as on 31 March 2023.

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