The IPO of GR Infraprojects Begins on July 7

By Angel Broking | Published on 1st July 2021 | 426

The IPO of GR Infraprojects Begins on July 7

An Overview of GR Infraprojects IPO

The initial public offering (IPO) of GR Infraprojects will begin accepting subscriptions on July 7, 2021. There will be no new shares issued, and the public offering is planned to be an offer-for-sale (OFS) of up to 1.15 crore shares by promoters and shareholders. On July 9, 2021, the primary market offering will end. On July 19, the shares are expected to be listed on the BSE and NSE.

Shares in the OFS will be sold by India Business Excellence Fund, India Business Excellence Fund I, Pradeep Kumar Agrawal, Lokesh Builders, and Jasamrit Premises. According to the company’s red herring prospectus, 2.25 lakh shares will be allocated for eligible employees.

GP Infraprojects is an Udaipur-based comprehensive road engineering, procurement, and construction firm. It works on road and highway projects in 15 states across the nation. KNR Constructions, Dilip Buildcon, PNC Infratech,HG Infratech, Ashoka Buildcon, IRB Infrastructure Developers, and Sadbhav Engineering are among GR Infraprojects’ stated competitors.

The issue’s book lead running managers are ICICI Securities, HDFC Bank, Kotak Mahindra Capital, Motilal Oswal Investment Advisor, SBI Capital Markets, and Enquires Capital. The issue’s registrar is KFin Technologies.

About the Company

G R Infraprojects is a full-service road engineering, procurement, and construction firm with extensive experience in developing and building road and highway projects. It primarily works on civil construction projects in the road sector under the EPC and BOT (Build Operate Transfer) models, but it has also expanded into the fabrication of thermoplastic road-marking paints, electric poles, road signage, and metal crash barriers.

It has successfully completed 100+ road construction projects until April 2021, and four BOT projects are now under construction. The company has production sites in Udaipur, Rajasthan, Guwahati, Uttar Pradesh, Assam, and Sandila, as well as a fabrication and galvanising facility in Ahmedabad, Gujarat.

History

R. Agarwal Builders and Developers Limited was established on December 22, 1995 as a public limited company under the Companies Act, 1956.

The RoC Rajasthan issued a certificate of initiation of operations on January 3, 1996, and their organisation purchased M/s Gumani Ram Agarwal, a partnership organisation, the same year.

The Company’s name was changed to ‘G R Infraprojects Limited’ by a resolution passed by their Shareholders on August 24, 2007, because management thought the new name better defined the Organization’s operations.

Competitive Advantages

  1. Expertise in road projects, including state and national highways, culverts, flyovers, airport runways, tunnels, and other similar structures.
  2. Strong project management skills.
  3. A strong track record of financial performance.
  4. Team of seasoned promoters and managers.

IPO Lot Size for G R Infraprojects

The IPO market lot size for G R Infraprojects is 17 shares. An individual retail investor can apply for up to 14 lots.

Objectives of the Issue

  1. Prepayment or repayment of all or a portion of the company’s outstanding borrowings on a consolidated basis.
  2. To achieve the company’s joint goals.

IPO Allotment Status for G R Infraprojects

Transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning bidders subject to the Offer for Sale and allotment of equity stocks subject to the Fresh Issue. The status of the allocation, however, is yet to be revealed.

Further Key Takeaways

IPO Opening Date 07th July, 2021
IPO Closing Date 09th July, 2021
Face Value Rs. 5 per  share
IPO Price Rs. 828 to 837 per equity share
Market Lot 17
Offer for Sale 1.5 crores equity share

FAQs

How to Apply for GR Infraprojects IPO?

If you wish to be one of the public investors in GR Infra’s recent IPO, you must first register a Demat account in order to engage in online trading. With the help of Angel Broking, you may open a Demat account and begin trading in less than 5 minutes. Angel Broking will answer any inquiries you have concerning your Demat account.

When will G R Infraprojects’ initial public offering (IPO) begin?

The G R Infraprojects IPO will begin on July 7, 2021 and end on July 9, 2021.

When will G R Infraprojects IPO be listed?

G R Infraprojects is expected to be listed on the stock exchange on July 19, 2021.

More information about the GR Infraprojects’ initial public offering should be available soon.