GR Infra shares list at a premium of 103% over issue price: Check details here

GR Infra shares list at a premium of 103% over issue price: Check details here

New Delhi (Anish Yande): GR Infraproject’s IPO has was subscribed 103 times. GR Infraprojects made a strong market debut on Monday. The shares were listed at Rs 1,715.85, at a 105 per cent premium to its issue price of Rs 837, on the NSE.

On BSE, the shares were listed at Rs 1,700, at an increase of 103.11 per cent.

Check all details of the GR Infraprojects’ share listing here.

GR Infraprojects subscriptions:

GR Infraprojects’s initial public offering (IPO) was subscribed 103 times. 

GR Infra’s qualified institutional buyers subscribed 168.58 times to their reserved portion. 

Non-institutional investors subscribed 238.04 times out of the reserved portion. Retail investors have issued bids 12.57 times of the reserved portion.  GR Infraprojects employees had applied for 80 per cent of their portion.

Key things to know about the GR Infraprojects IPO:

GR Infraprojects IPO amounts up to 1,15,08,704 equity shares. The price band for the issue is fixed at Rs 828 to 837 per share at a face value of Rs 5 per equity share. GR Infraprojects initial public offering includes a complete offer for sale by promoter and promoter group. 

The engineering company’s IPO opened on July 7 and closed on July 9. GR Infraprojects’s offer for the sale of equity shares amounts up to 1.15 crore shares by the promoters.

The book running lead managers to the issue were  Motilal Oswal Investment Advisors,  Kotak Mahindra Capital Company, ICICI Securities,  SBI Capital Markets, HDFC Bank, and Equirus Capital. 

GR Infraprojects is a road engineering and construction company based in Udaipur. The company develops roads, highways, and civil construction activities.  GR Infraprojects develops and operates projects across 15 states in India. 

GR Infraprojects owns three manufacturing facilities Udaipur in Rajasthan,  at Guwahati in Assam, and Sandila in Uttar Pradesh. The company has recently diversified into projects in the railway sector. The road engineering and construction company have a robust order book of around Rs 19,000 crore.

Image Credit: Google

READ ALSO :  Good News: Another coronavirus medicine in India ... This injection will end COVID-19

Source link