V.L.Infraprojects Ltd IPO Timeline

V.L.Infraprojects Ltd IPO opens on 23-Jul-2024, and closes on 25-Jul-2024. The V.L.Infraprojects Ltd IPO bid date is from 23-Jul-2024 to 25-Jul-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
V.L.Infraprojects Ltd IPO Opening Date 23-Jul-2024
V.L.Infraprojects Ltd IPO Closing Date 25-Jul-2024
Basis of Allotment 26-Jul-2024
Initiation of Refunds 29-Jul-2024
Credit of Shares to Demat 29-Jul-2024
V.L.Infraprojects Ltd IPO Listing Date 30-Jul-2024

V.L.Infraprojects Ltd IPO Lot Size

V.L.Infraprojects Ltd IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or 126000).

Application Lots Shares Amount
Minimum 1 3000 ₹126000
Maximum 1 3000 ₹126000

V.L.Infraprojects Ltd IPO Details

V.L.Infraprojects Ltd IPO Date 23-Jul-2024 to 25-Jul-2024
V.L.Infraprojects Ltd IPO Face Value Shares of ₹10 per share
V.L.Infraprojects Ltd IPO Price ₹39 to ₹42 per share
V.L.Infraprojects Ltd IPO Lot Size 3000
Issue Size Shares of ₹10 (aggregating up to ₹18.52 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹18.52 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Rajagopal Reddy Annam Reddy, Mydhili Rajagopal Reddy, Nageshwara Rao Repuri.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 To meet working capital requirements
  • 2 General corporate purposes

Company Financials

V.L.Infraprojects Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 56.91 114.00 6.14
03-2023 28.36 45.65 2.23
Amount in ₹ Crore
  • Experienced Promoters and Management Team.
  • Focused player in Water Supply Projects (WSPs).
  • End-to-end execution capabilities.
  • Optimal Utilization of Resources.
  • Long-standing relationships with its customers.
  • Majority of its revenues are generated from state of Gujarat. Any adverse development affecting its operations in this region could have an adverse impact on its business, financial condition and results of operations.
  • Significant portion of its revenues is concentrated from a limited number of clients. The loss of any of its significant clients may have an adverse effect on the company's business, financial condition, results of operations, and prospect.
  • Its business is working capital intensive involving relatively long implementation periods. The company requires substantial financing for its business operations. Its indebtedness and the conditions and restrictions imposed on by its financing arrangements could adversely affect the company's ability to conduct its business.
  • Its failures to perform in accordance with the standards prescribed in work order of its client could result in loss of business or compensation payment.
  • The company has certain outstanding litigation against it, an adverse outcome of which may adversely affect its business, reputation and results of operations.
  • Its positioning in terms of size/operation in the state of Gujarat may not be maintained.
  • Its Restated Financial Statements are reviewed and Signed by the Peer Review Auditors who is not Statutory Auditors of the Company as required under the provisions of ICDR.
  • Projects undertaken through a joint venture may be delayed on account of the performance of the joint venture partner or, in some cases, significant losses from the joint venture may have an adverse effect on its business, results of operations and financial condition.
  • There is no assurance of customer continuity in its business and the company is required to submit bids for each project on a competitive basis.
  • Bidding for a tender involves various management activities such as detailed project study and cost estimations. Inability to accurately estimate the cost may lead to a reduction in the expected rate of return and profitability estimates.
  • Its ongoing projects are exposed to various implementation risks and uncertainties and may be delayed, modified or cancelled for reasons beyond its control, which may adversely affect the company's business, financial condition and results of operation.
  • The company operates in the construction industry where there are low entry barriers. Its failure to successfully compete may adversely affect the company's business, financial condition, results of operations and prospects.
  • The company has entered into a number of related party transactions and may continue to enter into such transactions under Ind AS 24, in the future, and there can be no assurance that its could not have achieved more favourable terms had such transactions not been entered into with related parties.
  • Its profitability and results of operations may adversely be affected in the event of any disruption in the supply of materials or an increase in the price of materials, fuel costs, labour etc.
  • The company cannot assure that the construction of its projects will be free from any or all defects, which may adversely affect its business, financial condition, results of operations and prospects.
  • Its business requires the company to obtain and renew certain registrations, licenses and permits from government and regulatory authorities and the failure to obtain and renew them in a timely manner may adversely affect its business operations and some of the approvals are required to be transferred in the name of V.L.Infraprojects Limited'.
  • The company may be unable to identify or acquire new projects and its bids for new projects may not always be successful, which may stunt its business growth. Further, any delay in the commencement or cancellation of the projects awarded to it may adversely affect its business, prospects, reputation, profitability, financial condition and results of operation.
  • Its inability to successfully implement the company's business plan, expansion and growth strategies could have an adverse effect on its business, financial condition, cash flows and results of operations.
  • The company has certain contingent liabilities that have not been provided for in the Company's financials which if materialized, could adversely affect its financial condition.
  • Any failures to accurately estimate the overall risks, revenues or costs in respect of a project, may adversely affect its profitability and results of operations. Its actual cost in executing a contract or in constructing a project may vary substantially from the assumptions underlying its bid. The company may be unable to recover all or some of the additional expenses, which may have a material adverse effect on its results of operations, cash flows and financial condition.
  • Failures to successfully implement its business strategies may materially and adversely affect the company's business, prospects, financial condition and results of operations.
  • The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
  • It operations may be adversely affected in case of industrial accidents, physical hazards and similar risks at its construction sites, which could expose the company to material liabilities, loss in revenues and increased expenses.
  • The company has incurred substantial indebtedness which exposes it to various risks which may have an adverse effect on its business and the results of operations.
  • The Company has in the past has made certain inadvertent erroneous filings under Companies Act, 2013. Further, there have also been instances where the Company has inadvertently filed incorrect information with the RoC in its statutory filings.
  • There have been certain discrepancies in its corporate records and compliances in past. While the company has not been subjected to any penalty till date, the company is not sure any such non-compliance shall not occur in future.
  • Risks Associated with Unsecured Loans:
  • Its lenders have charge over the company movable and immovable properties in respect of finance availed by the company.
  • Its success depends largely on the skill, experience and continued efforts of its senior management, skilled professionals and unskilled workers and the company ability to attract and retain skilled and unskilled personnel.
  • The company is exposed to the risks of malfunctions or disruptions of information technology systems.
  • A significant number of its project contracts prescribe a requirement for maintaining retention money during the defect liability period. Any dispute or delay to obtain a release of such retention monies in a timely manner or at all may have an adverse impact upon its profitability, results of operations and financial position.
  • The company may need to raise additional capital in the future for working capital and its may not be able to do so on favourable terms or at all, which would impair its ability to operate the company's business or achieve its growth objectives, which may have an adverse effect on its results of operations and business.
  • Wage pressures and increases in operating costs in India may prevent it from sustaining its competitive advantage and may reduce the company profit margins.
  • Its business is capital intensive. Difficult conditions in the global capital markets and the global economy generally may adversely affect its business and results of operations and may cause it to experience limited availability of funds. The company cannot assure you that its will be able to raise sufficient financing on acceptable terms, or at all.
  • The company source a large part of its new orders from its relationships with its customers, both present and past. Any failure to maintain its long-standing relationships with the company existing customers or forge similar relationships with new ones would have a material adverse effect on its business operations and profitability.
  • Its may not be able to adequately protect the company intellectual property, which could harm the value of its brand and services.
  • Its Promoters and members of Promoter Group or third party have provided their personal guarantees to certain loan facilities availed by it, which if revoked may requires alternative guarantees, repayment of amounts due or termination of the facilities.
  • The company faces significant competition and if its fail to compete effectively, its business, prospects, financial condition and results of operations will be adversely affected.
  • Dependence on Permit Extensions and Potential Project Delays.
  • The company engage sub-contractors and other agencies in its business. The timely and successful completion of its projects in certain cases depends upon the cooperation of its sub-contractors, and any failure or delay in successful completion could adversely affect the quality of its developments and adversely affect its profitability, business and reputation.
  • Its reliance on raw material suppliers for the company's business operations exposes it to a variety of risks which could materially disrupt its operations.
  • The company could be adversely affected if its fail to keep pace with technical and technological developments in the construction industry.
  • Its operations could be adversely affected by strikes, work stoppages or increased wage demands by its employees or labour contractor or sub- contractor any other kind of disputes with its employees or labour contractor or subcontractor.
  • The company requires certain regulatory and statutory approvals and licenses required in the ordinary course of its business, and the failure to obtain, maintain and renew these approvals in a timely manner or at all, may adversely affect its business and operations.
  • The Company had negative cash flow from operating activity in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
  • The average cost of acquisition of Equity shares by its Promoters is lower than the Issue price.
  • Its Promoters will continue jointly to retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
  • Within the parameters as mentioned in the chapter titled "Objects of this Issue" of this Draft Red Herring Prospectus, the Company's management will have flexibility in applying the proceeds of this Issue. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • In the event there is any delay in the completion of the Issue, or delay in schedule of implementation, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
  • The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
  • Certain data mentioned in this Draft Red Herring Prospectus has not been independently verified.
  • Any future issuance of Equity Shares may dilute your shareholdings, and sale of the Equity Shares by its major shareholders may adversely affect the trading price of the company Equity Shares.
  • Its ability to pay dividends in the future will depends upon the company's future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • Certain information contained in this Draft Red Herring Prospectus is based on management estimates and the company cannot assure you of the completeness or accuracy of the data.
  • Industry information included in this draft red herring prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • Delays in GST and EPF Returns.
  • Its insurance coverage may not adequately protect us against possible risk of loss.
  • The company benefit from its relationship with its Promoters and its business and growth prospects may decline if the company cannot benefit from this relationship.
  • Third party statistical and financial data in this Red Herring Prospectus may be incomplete or unreliable.
  • The Company is dependent on few suppliers for purchase of product. Loss of any of these large suppliers may affect its business operations.
  • Continue to enhance our project execution capabilities.
  • Leveraging its market skills and relationship.
  • Maintaining edge over competitors.
  • Expand its geographical footprint.

V.L.Infraprojects Ltd IPO Promoter Holding

Pre Issue Share Holding 86.36%
Post Issue Share Holding 62.12%

V.L.Infraprojects Ltd IPO Subscription Status (Bidding Detail)

The V.L.Infraprojects Ltd IPO is subscribed 588 times on Jul 25, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 588

V.L.Infraprojects Ltd IPO Prospectus

V.L.Infraprojects Ltd IPO Listing Date

Listing Date 30 Jul 24
BSE Script 92973
NSE Symbol VLINFRA
Listing In NSE - SME
ISIN INE0QXL01015
IPO Price ₹42
Face Value ₹10

V.L.Infraprojects Ltd IPO Registrar

Skyline Financial Services Pvt

Phone: 011-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com

V.L.Infraprojects Ltd IPO Lead Manager(s)

  1. Beeline Capital Advisors Pvt Ltd

FAQs on V.L.Infraprojects Ltd IPO

V.L.Infraprojects Ltd IPO, which opens for subscription from 23-Jul-2024 to 25-Jul-2024 has an issue size of ₹18.52 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for V.L.Infraprojects Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

V.L.Infraprojects Ltd IPO Opens for subscription from 23-Jul-2024 to 25-Jul-2024.

The lot size of V.L.Infraprojects Ltd is 3000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹126000 and ₹126000 respectively.

Allotment date for V.L.Infraprojects Ltd is 26-Jul-2024 and refund of application amount (in case allotment is not received) will begin from 29-Jul-2024. If your allotment goes through, then shares will be credited in your Demat account by 29-Jul-2024.

The registrar for V.L.Infraprojects Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.

The shares of V.L.Infraprojects Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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