GR Infraprojects Listing: Today on Monday 19th July, GR Infraprojects has made a great start in the equity market. Its shares were listed at a premium of 105 per cent or Rs 878.85 against the issue price of Rs 837. Its stock was listed on BSE at a premium of 103.10 percent i.e. Rs 1700 and after that it reached a premium of 107.24 percent i.e. Rs 1734.60. Its shares were listed on NSE at a price of 105 percent i.e. Rs 1715.85. The company’s market valuation on the BSE stood at Rs 16,234.08 crore.
Bumper listing in the stock market of Clean Science and Technology, trading at twice the IPO price
IPO was subscribed 102.58 times
The IPO of Udaipur-based GR Infraprojects was subscribed 102.58 times while 81.23 lakh shares were available under the offer. The qualified institutional buyers category was subscribed 168.58 times, non-institutional category 238.04 times and retail individual investors category 12.57 times. The price band for this IPO of Rs 936 crore was fixed at Rs 828-837 per share.
The company has experience in building roads in 15 states.
Udaipur-based GR Infraprojects is an Integrated Road Engineering, Procurement and Construction (EPC) company with experience in designing and building several road and highways projects in 15 states of the country. Recently, it has taken up some projects in the railway sector. The core business of GR Infra is broadly divided into three categories – Civil Construction Activities under which EPC Services are provided, Roads and Highways on Build Operate Transfer (BOT) basis under Annuity and Hybrid Annuity Model (HAM). Development and manufacturing activities under which the company processes bitumen, thermoplastic road-marking paint, electric poles and road signage.