V R Infraspace had a modest opening on the NSE SME platform, starting at ₹90 per share, a slight 5.88% increase from its ₹85 issue price. The company, known for its construction and real estate projects in Vadodara, Gujarat, experienced a lukewarm market entry.
The initial public offering (IPO) for V R Infraspace, with a set price of ₹85 per share and a face value of ₹10, ran from March 4 to March 6. The offering’s lot size was 1,600 shares, allowing bids for at least that number and in multiples thereafter.
V R Infraspace Limited is a real estate firm based in Vadodara, Gujarat, specializing in residential and commercial construction projects. With a customer-centric approach, they aim to meet diverse consumer needs while ensuring swift project delivery from inception to completion, thereby reducing risks and enhancing returns. Led by experienced promoter Mr. Vipul Devchand Rupareliya, the company emphasizes visionary growth strategies.
The primary aim of VR Infraspace Limited’s IPO is to fulfill its working capital needs, with a focus on sustaining ongoing projects and managing inventory for projects extending beyond a year. Additionally, funds will be allocated to invest in its subsidiary, M/s. Daxon Technologies, for VR Vivanta’s construction, and for general corporate purposes such as strategic initiatives, branding, and meeting business exigencies.
