Vishnusurya Projects and Infra IPO

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Vishnusurya Projects and Infra Limited IPO is all set to open from 29th September to 5th October 2023. The company is involved in the business of mining rough stones and manufacturing aggregates and manufacture-sand. The IPO includes a fresh issue of 7,350,000 shares worth ₹49.98 cr. The share allotment date is 10th October, and the IPO will be listed on 13th October, on the stock exchanges. The price band is ₹68 per share and the lot size is 2000 shares.    

Khandwala Securities Limited is the book-running lead manager for this IPO, while Cameo Corporate Services Limited is the registrar. 

Objectives of Vishnusurya Projects and Infra IPO

Vishnusurya Projects and Infra plans to utilize the raised capital from the IPO to:
●    Prepay or repay in full or partial the borrowings obtained. 
●    For working capital requirements.
●    General corporate purpose.
 

Established in 1996, Vishnusurya Projects and Infra is involved in the business of mining rough stones and manufacturing aggregates and manufacture-sand by utilizing Crushing Plants and Sand washing plants. There are a total of three business verticals in which the company operates. 

Engineering, Procurement, and Construction (EPC): In property development and real estate, the company has a range of offerings such as Commercial and Mixed Development Construction, IT and Institutional Space development, Retail (Malls), Office buildings, Industrial Parks, Residential Projects, Luxury Villas, Resorts, Factories and Warehouses, Stadiums, Exhibition and Convention Centers, Entertainment venues, Industrial Construction, and Brownfield Development.

Mining of Aggregates and Manufactured Sand: The company possesses and manages two quarries located in Tamil Nadu, India. The first quarry is situated in Aruppukottai, Virudhunagar District, Tamil Nadu, which covers 105 acres. This facility handles all aspects of rock breaking and rock auguring operations, with a crushing machine capable of producing 250 tonnes per hour and 100 tonnes of sand washing at the same time. The second facility, dedicated to aggregates and manufactured sand production, is situated in Vandavasi, Tiruvannamalai District, Tamil Nadu, approximately 100 km from Chennai. Here, a crushing machine can handle 350 tonnes of material and 150 tonnes of sand washing simultaneously.

Drones or Unarmed Aerial Vehicles (UAVs): The company also specializes in drones and unarmed aerial vehicles for various purposes.

Vishnusurya Projects and Infra holds the esteemed Class I contractor accreditation from several governmental departments and agencies, including the Greater Chennai Corporation (GCC), the Government of Tamil Nadu Water Resources Department, the Tamil Nadu Water Supply and Drainage Board, and the Highways Department. This enables the company to actively participate in and execute projects awarded by various other government departments and agencies.

Peer Comparison

●    Rachana Infrastructure Limited
●    Sonu Infratech Limited
●    A B Infrabuild Limited