IPO Alert: GR Infraprojects opens on 7 July 2021

Blog | IPO

With the Indian government focusing heavily on infrastructure to revive the economy, companies from this sector have become the markets’ darling. As the excitement around this sector continues to grow, another infra company is set to hit the bourse. We bring you all the key details about the latest IPO—GR Infraprojects.

Key details

  • Price band: ₹828–837 per share
  • Lot size: 17 shares
  • IPO size: ₹952–₹963 crore
  • Fresh issue: NA
  • Cost per lot: ₹14,229
  • Issue opens: 7 July 2021
  • Issue closes: 9 July 2021
  • Basis of allotment date: 14 July 2021 
  • Initiation of refunds: 15 July 2021
  • Credit of shares to demat account: 16 July 2021
  • Expected listing date: 19 July 2021

About GR Infraprojects

Incorporated in 1995, GR Infraprojects focuses on designing and constructing roads and highways. It has recently diversified into railway projects. The company has undertaken projects across 15 states and currently has an order book of ₹19,025 crore. 

The infra company provides engineering, procurement and construction (EPC) services primarily for civil construction activities like road infrastructure. This segment accounts for around 68% of the company’s total revenue. It has also constructed roads and highways on Build, Operate and Transfer (BOT) as well as Hybrid Annual Model (HAM) basis.

Over the last three years, the company has delivered strong financial performance. During FY19–21, its revenue grew at a CAGR of 22%, whereas its profit rose at a CAGR of 15%.    

About the issue

The IPO issue of ₹963 crore is entirely an offer for sale. 

IPO allocation quota

QIB NIB Retail
50% 15% 10%

To know more about the IPO, read its red herring prospectus here. The issue opens on 7 July 2021 and you can subscribe to GR Infraprojects with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!