Vishnu Prakash R Punglia Ltd IPO

Vishnu Prakash R Punglia Limited was originally formed as a partnership firm under the Partnership Act, 1932 in the name of M/s Vishnu Prakash Pungalia, pursuant to a deed of partnership dated August 14, 1986. Further, vide deed of partnership dated April 02, 1999, the name of the partnership firm was changed to M/s. Vishnu Prakash R. Pungalia, with introduction of new partners. Further, vide deed of partnership dated June 01, 2001, the name of the partnership firm was changed from Vishnu Prakash R. Pungalia to M/s. Shree Ji Construction Co. Further, vide deed of partnership dated March 01, 2002, the name of the partnership firm was changed from M/s. Shree Ji Construction Co., to M/s. Vishnu Prakash R Pungalia. The constitution of the firm was changed on May 10, 2003 with the admission of new partner. The constitution of the firm was further changed with the admission of new partners with effect from October 10, 2003. The constitution of the firm was further changed on November 02, 2003 due to the demise of a partner. The constitution of the firm was further changed with the admission of new partners and retirement of certain existing partners with effect from June 01, 2004 and the final certificate of registration was issued by the Office of the Registrar of Firms, Jodhpur, Rajasthan on June 04, 2004. The said partnership was thereafter converted to a public limited company with the name `Vishnu Prakash R Punglia Limited', pursuant to a deed for joint stock company dated April 01, 2013 (Deed) and following the procedure specified under Part IX of the Companies Act, 1956. A certificate of incorporation reflecting the legal status of the Company was granted by the Registrar of Companies, Maharashtra, Mumbai dated May 13, 2013. Pursuant to the said Deed, Vishnu Prakash Punglia, Ram Jeevan Punglia, Manohar Lal Punglia, Vijay Punglia, Kamal Kishor Pungalia, Anil Punglia, Pushpa Devi Pungalia, Pushpa Pungalia, Sanjay Kumar Punglia and Ajay Pungalia, partners of M/s. Vishnu Prakash R Pungalia, agreed to subscribe to the share capital of the Company in proportion to the capital contributed by them in the partnership firm.

The Infrastructure sector acts as a catalyst for India's economic growth as it drives the growth of the allied sectors like townships, housing, built-up infrastructure and construction development projects. In order to become a US$ 5 trillion economy by 2025, infrastructure development is the need of the hour. The Government has launched the National Infrastructure Pipeline (NIP) combined with other initiatives such as ake in India' and the production-linked incentives (PLI) scheme to augment the growth of infrastructure sector. Historically, more than 80% of the Country's infrastructure spending has gone towards funding for transportation, electricity and water & irrigation. Centre's share in NIP is 39% whereas State and Private sector's share is 39% and 22% respectively. The Jal Jeevan Mission (JJM) has been initiated on August 15, 2019 by the Government of India with the intention to provide Functional Household Tap Connections (FHTC), with access to safe and adequate drinking water, to every rural household in the country by 2024. Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 aims through water source conservation, rejuvenation of bodies of water and wells, recycling and reuse of treated used water, and rainwater harvesting, to make water in the cities secure and self-sustainable.

Vishnu Prakash R Punglia Limited is an ISO 9001:2015 certified integrated engineering, procurement and construction (EPC) company with experience in design and construction of various infrastructure projects for the Central and State Government, autonomous bodies, and private bodies across 9 States and 1 Union territory in India. Its principal business operations are broadly divided into four categories: (i) Water Supply Projects (WSP); (ii) Railway Projects; (iii) Road Projects and (iv) Irrigation Network Projects. Its major projects include constructing, designing, building, implementing, operating, maintaining and developing Water Supply Projects (WSPs) including Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for supply of water, as well as other projects such as Roads, Bridges, Tunnels, Warehouses, Buildings, Railway Buildings including platforms, stations, quarters, administrative buildings, Rail-Over-Bridges and Waste Water Treatment Plants (WWTPs).