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Jodhpur-based Vishnu Prakash R Punglia Limited is an integrated Engineering, Procurement and Construction (“EPC”) company, which specialises in water supply projects (WSP) has received final

observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO). The company had filed preliminary IPO

papers with Sebi on April 12, 2023. It has experience in major infrastructure projects for the Central and State Government, autonomous bodies, and private bodies with on-going projects at

nine states and one Union territory in India. The public issue with a face value of Rs 10 per equity share is a complete fresh issue of shares up to 31.20 million with no offer-for sale

component. The offer also includes a reservation for a subscription by eligible employees. The proceeds from its fresh issuance, to the extent of Rs 58.64 crore will be utilised for

purchasing capital equipment, Rs 140 crore will be used for funding the working capital requirements of the Company; and general corporate purposes. Choice Capital Advisors Private Limited

and Pantomath Capital Advisors Private Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be

listed on BSE and NSE. VISHNU PRAKASH R PUNGLIA Led by Promoter Vishnu Prakash Punglia, the EPC has a strong operational understanding with a consistent track record in carrying out

infrastructure projects for over three decades. It owns a fleet of about four hundred and eighty-four construction equipment assets which includes crushers, excavators, loaders, dozers,

paver machines, ready mix concrete plants, concrete mixtures, cranes, tractors and transportation vehicles from some of the leading suppliers. Its major activities include constructing,

designing, building, implementing, operating, maintaining and developing Water Supply Projects (WSPs) including Water Treatment Plants (WTPs) along with pumping stations and laying of

pipelines for supply of water, as well as other projects such as Roads, Bridges, Tunnels, Warehouses, Buildings, Railway Buildings including platforms, stations, quarters, administrative

buildings, Rail-Over-Bridges and Waste Water Treatment Plants (WWTPs). It also undertakes operations and maintenance services. VISHNU PRAKASH R PUNGLIA EARNINGS The Company’s revenue from

operations increased from Rs 373.15 crore in FY 2019-20 to Rs 785.61 crore in FY 2021-22 at a Compounded Annual Growth Rate (“CAGR”) of 45.10%, while the profit for the year increased from

Rs 12.65 crore in FY 2019-20 to Rs 44.85 crore in FY 2021-22 at a CAGR of 88.25%. EBITDA has grown at a CAGR of 45.10% from Rs 40.18 crore in FY 2019-20 to Rs 88.64 crore in FY 2021-22. For

the nine months ended December 31, 2022 revenue from operations stood at Rs 712.70 crore and profit after tax stood at Rs 50.74 crore, whereas the EBITDA margin stood at 13.13%.