New Delhi, Aug 25 (PTI) The Initial Public Offer (IPO) of engineering, procurement, and construction (EPC) firm Vishnu Prakash R Punglia Ltd was subscribed 10.63 times on the second day of offer on Friday.

The Rs 308.88 crore-public issue received bids for 23,30,33,100 shares against 2,19,30,000 shares on offer, as per NSE data.

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The category for non-institutional investors received 19.39 times subscription while the quota for Retail Individual Investors (RIIs) was subscribed 12.88 times. The portion for Qualified Institutional Buyers (QIBs) got subscribed 35 per cent.

The IPO has a fresh issue aggregating up to 3.12 crore equity shares with no Offer for Sale (OFS) component.

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The company's IPO has a price range of Rs 94-99 per share.

Vishnu Prakash R Punglia on Wednesday said it has raised Rs 92 crore from anchor investors.

Proceeds from the fresh issuance will be utilised for purchasing capital equipment, funding the working capital requirements of the company, and the balance for general corporate purposes.

The Jodhpur-based company has experience in the design and construction of major infrastructure projects for the central and state governments, with ongoing projects in nine states.

Choice Capital Advisors and Pantomath Capital are the managers to the offer.

The equity shares are proposed to be listed on BSE and NSE.

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