Stock Crash: Infra services provider falls 85% from December 2024 peak, halves from IPO price

Shares of Vishnu Prakash R Punglia Ltd. are trading with losses of close to 5% on Thursday, January 1, extending its losses for the second straight session.

However, the stock has gained in only four out of the last 25 trading sessions. At the end of December, the stock had delivered negative returns for eight months in a row.

On Thursday, the stock is also declining on strong volumes, with over 70 lakh shares traded as of 11 AM, which is significantly higher than the 20-day average of 13 lakh shares.

Vishnu Prakash R Punglia's shares had made a record high in December 2024 at ₹345. Today, the stock is down 85% from those levels. The stock has also halved from its IPO price of ₹99.

When we take a look at the company's shareholding pattern, only one Mutual Fund, the Quant Smallcap Fund, has a 4.08% stake in the company at the end of the September quarter. Back in September 2023, the fund had a 2.2% stake in the company.

As of September 2023, Max Life Insurance, Kotak Mahindra Life Insurance Company, Sixteenth Street Asian Gems Fund had a stake in the company. However, at the end of the September quarter in 2025, none of these names feature in the list of public shareholders.

From 47,400 retail shareholders, or those with authorized share capital of up to ₹2 lakh, the number has gone up to 1.2 lakh shareholders, who have a 26.2% stake in the company. Promoters sold some stake in the September quarter, bringing their stake down to 58% from 67% earlier.

Shares of Vishnu Prakash R Punglia are now trading 4.4% lower at ₹50.31. The stock is down 40% over the last one month.