VR Infraspace shares were listed on a flat note with a premium of just 6% over the IPO price on the NSE SME platform on March 12, 2024. The shares were listed at ₹90 against the IPO price of ₹85.
At 11.05 am, shares were trading at 2.22% lower at ₹88 apiece after touching a high of ₹91 and a low of ₹85.50 in early deals post listing on the bourse.
The allotment for the VR Infraspace IPO was finalized last Thursday, March 7, following an encouraging response from investors. The initial public offer was oversubscribed 91 times during its three-day bidding window.
The issue received bids for 20,70,57,600 shares against the 2,278,400 shares on offer during the three-day subscription window.
The public offer, available for subscription from March 4 to March 6, received 96 times subscriptions from retail investors and 85 times from participants in other categories.
The SME IPO, a fixed-price issue of ₹20.4 crore, was entirely a fresh issue of 24 lakh shares with a face value of ₹10 each.
Link Intime India Private Ltd served as the registrar to the IPO, with Beeline Capital Advisors Pvt Ltd acting as the book-running lead manager for the public offering. Spread X Securities played the role of the market maker for the VR Infraspace IPO.
Investors in the VR Infraspace IPO can check the status of share allotment on the official website of the registrar, Link Intime India Private Ltd.”
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Here’s how to check the allotment status of VR Infraspace IPO:
- Visit ‘Intime India website’ : https://linkintime.co.in/initial_offer/public-issues.html
- Go to ‘Public Issue’ section
- Select ‘VR Infraspace’ from the company’s drop-down menu
- Enter PAN, application number, DP Client ID or Account Number/IFSC
- Click ‘Submit’ button.
It’s important to note that IPO investors can view the allotment status only after the company finalizes the allotment process. Successful bidders will also have access to the number of shares allotted to them.
Alternatively, participants can check the share allotment status on the NSE. They need their PAN number and bank account details to verify their share allotment status.
VR Infraspace Limited initiated refunds for non-allottees on March 11 and credited shares to the Demat accounts of successful applicants on the same day.
VR Infraspace IPO Details
The VR Infraspace IPO price was fixed at ₹85 per share. The minimum lot size for an application was 1,600 shares, requiring a minimum investment of ₹1,36,000 for retail investors. High Net Worth Individuals (HNIs) had to invest in a minimum lot size of 2 lots, equivalent to 3,200 shares, amounting to ₹2,72,000.
The promoters of the company, Vipul Devchand Rupareliya and Sumitaben Vipulbhai Rupareliya, controlled 100% shareholding of the firm before the IPO. After the public issue, their holding was reduced to 72.97%.
About VR Infraspace Limited
Incorporated in 2015, V R Infraspace Limited is engaged in the real estate business, with a primary focus on constructing and developing residential and commercial projects in and around Vadodara, Gujarat.
VR Infraspace offers a range of luxurious and affordable residential properties with various types of accommodations, equipped with features such as security systems, sports and recreational facilities, play areas, and electricity backups. The company provides residential and commercial projects under the brand name ‘VR.’
VR Infraspace has successfully completed residential projects named VR Celebrity Luxuria and VR Imperia, along with a commercial project named VR One Commercial Business Center.
As of September 30, 2023, the company reported a consolidated total income of ₹732.41 lakh and a profit-after-tax of ₹89.54 lakh. The company’s registered office is located in Vadodara, Gujarat, India.
