Schedule of V L Infraprojects
| Issue open date | 23 Jul 2024 |
| Issue close date | 25 Jul 2024 |
| UPI mandate deadline | 25 Jul 2024 (5 PM) |
| Allotment finalization | 26 Jul 2024 |
| Refund initiation | 29 Jul 2024 |
| Share credit | 29 Jul 2024 |
| Listing date | 30 Jul 2024 |
| Mandate end date | 09 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 26 Aug 2024 |
| Lock-in end date for anchor investors (remaining) | 26 Oct 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About V L Infraprojects
Established in 2014, VVIP Infratech 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 construction of civil work, pumping stations, and installation of electro-mechanical equipment’s (pumping machinery) for distribution of water supply from the river to household. The company provides the designing, construction, and commissioning of various government projects especially in the water infrastructure and irrigation segment.
VVIP Infratech is a Government Approved Contractor in “AA” Class with the Government of Gujarat, a Civil/Electrical Contractor License from the Karnataka State Public Works department, Special class registration in the Government of Telangana, and contractor registration in the Government of Madhya Pradesh. The company holds numerous ISO certifications; these include ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety management systems. Over the years, the company has successfully executed approximately 30 projects with a cumulative worth of ₹ 104.86 crores. VVIP Infratech’s execution capabilities have seen significant growth both in relation to the size of projects bid for and executed, as well as the number of projects undertaken simultaneously. As of July 13, 2024, the company is managing 15 ongoing projects with an estimated worth of approximately ₹ 338.80 crores.
Financials of V L Infraprojects
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹18.52 crores |
| Fresh issue | ₹18.52 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 14.80 (79.9%) |
| General corporate purposes | 3.72 (20.1%) |
*All figures except EPS are in ₹ crores
Strengths
- Expertise in Water Supply Projects (WSPs): The company has over 9 years of extensive experience in successfully executing Water Supply Projects (WSPs) comprising the construction and development of pipelines, water tanks, reservoirs, tunnels, overhead tanks, water treatment plants, and irrigation projects. Over the years, the company has built significant experience in executing WSPs. In addition, they have developed substantial financial resilience and managerial capabilities to get prepared to expand into new segments such as railways, roads,, and other diverse sectors.
- End-to-end execution capabilities: VVIP Infratech’s strong in-house operations – which encompass design, engineering, procurement, construction, and quality assurance teams – contribute extensively to the company’s successful growth narrative. It’s efficient supply chain enhances value creation for future projects by leveraging economies of scale.
Risks
- Geographical concentration: The company generates nearly 89% of its revenues from the state of Gujarat. Any adverse development affecting the operations in this region could have an adverse impact on the business, financial condition, and results of operations.
- Working capital-intensive business: The company operates in a working capital-intensive industry. If it experiences insufficient cash flows to meet required payments, there may be an adverse effect on the results of the operations and financial condition.
- Reliance on Top 10 clients: The company relies significantly with nearly 95% of total revenues on top 10 clients. Any disruption in relations with them might adversely affect the company’s business, financial condition, and operating results.
Note:
- The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
- The allotment status will be available by July 27, 2024, on the registrar’s website and the NSE website.