Led by promoter Vishnu Prakash Punglia, the Jodhpur-based construction company aims to garner Rs 308.88 crore via public issue of 3.12 crore equity shares comprising only fresh issue.
Analysts are impressed with the company’s consistent top-line growth, operational efficiencies, healthy order pipeline, etc. Its concentration in Rajasthan and high rate of unsecured loans are the only worrying factors. The issue closes pens August 28