Vishnusurya Projects, a company operating in the mining and manufacturing sector with EPC operations and drone technology, saw its stock price climb on the NSE Emerge to ₹76.65 by 01:30 ET (05:30 GMT) on Tuesday, following its listing at a 7% premium.
The company’s initial public offering (IPO) received significant oversubscription, with the overall subscriptions reaching 44.11 times the available shares. Retail subscriptions were particularly strong at 43.63 times, while non-retail subscriptions were also robust at 36.32 times.
The successful IPO raised ₹50 crore (approximately USD 12 million). Vishnusurya Projects plans to use these funds for working capital, debt repayment, and general corporate purposes. The strong market response to the IPO and the subsequent increase in the stock price reflect investor confidence in the company’s future prospects.