Two IPOs launched on budget day, great GMP... will there be huge profits?

Finance Minister Nirmala Sitharaman presented the country’s budget in the House on Tuesday. This is the first budget of Narendra Modi’s third term. Meanwhile, IPOs of two companies have been launched on the day of the budget. IPOs of VL Infraprojects and VVIP Infratech Limited have opened for retail investors.

V.L. Infraprojects Limited

V.L. Infraprojects Limited, formed by Maydhili Reddy in the year 2013-14, was earlier known as VL. The IPO of this company has opened. It will remain open for investors till July 25 and the allotment of the company’s shares will be done on July 26.

V.L. Infraprojects Limited will issue 44.10 lakh shares in the market during this period. The company has kept the price band of these shares at Rs 39 to Rs 42 per share. Let us tell you, the company’s IPO opened for anchor investors on Monday, 22 July, due to which the company has received Rs 5.24 crore. Investors will have to invest a minimum of Rs 1,26,000 because the company has kept its lot size at 3000 shares.

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