BR Goyal Infrastructure IPO booked over 44 times so far on last day; check subscription, price band and listing date

The initial public offering (IPO) of BR Goyal Infrastructure Limited is garnering strong demand across investor categories on the third day of bidding on Thursday, January 9.

The BSE SME issue opened for subscription on January 7. The Indore-based construction firm aims to raise ₹85.21 crore from the primary market through the public offer.

The IPO was booked 44.29 times on the last day of subscription led by the Non-Institutional Investors (NIIs). The IPO attracted bids for over 18.26 crore shares against 42.1 lakh shares on offer, as per the BSE data till 1:55 pm.

Retail investors subscribed their quota nearly 50 times with bids for more than 10.36 crore shares against 20.86 lakh shares set aside for the category. The NIIs booked their quota 68 times by applying for over 6 crore shares against 8.9 lakh shares on offer. The Qualified Institutional Buyers (QIBs) applied for nearly 1.82 crore shares against 11.92 lakh shares reserved for them. The QIBs booked their category 15.26 times.

The company’s employees subscribed 89% of 38,000 shares reserved for them, by applying for 34,000 shares.

BR Goyal Infrastructure IPO price band and other details

BR Goyal Infrastructure IPO consists of an exclusively fresh issue of 63.12 lakh shares, and no offer-for-sale (OFS) component.

The company has fixed a price of ₹128 to ₹135 for the IPO. The minimum lot size is 1,000 shares for retail investors. The minimum bid amount for the retail investors is ₹1,35,000 for a single lot size.

Beeline Capital Advisors Private Ltd is the book-running lead manager of the BR Goyal Infrastructure IPO, while Link Intime India Private Ltd is the registrar for the issue.

BR Goyal Infrastructure IPO key dates

The IPO allotment status is expected to be finalised on Friday, January 10. Refunds will be issued on Monday, January 13, and the allottees will also receive shares in their Demat accounts on the same day.

The company has proposed to list shares on the BSE SME on Tuesday, January 14.

About BR Goyal Infrastructure and use of IPO proceeds

BR Goyal Infra specializes in constructing and developing infrastructure projects, including roads, highways, bridges, and buildings. The company is actively involved in projects across various states, such as Madhya Pradesh, Maharashtra, Gujarat, Haryana, Uttar Pradesh, Mizoram, and Manipur.

It primarily provides EPC (Engineering, Procurement, and Construction) services to third parties, mainly government agencies, focusing on sectors like roads and highways, commercial complexes, industrial parks, housing developments, and Hybrid Annuity Mode (HAM) projects.

As per BR Goyal Infrastructure’s RHP, the company plans to allocate ₹8.02 crore from the IPO proceeds for capital expenditures, specifically for purchasing vehicles. This investment aims to strengthen its fleet to enhance support for EPC services.

Additionally, ₹42 crore of the IPO funds will be utilised to meet working capital requirements. A portion of the IPO proceeds will also be directed towards funding inorganic growth through acquisitions, other strategic initiatives, and general corporate purposes.

The infrastructure company’s revenue from operations stood at ₹147.34 crore in the period ended July 31, 2024. The profit after tax (PAT) was ₹1.99 crore in the April-July period of the current financial year 2025.

For the financial year ended March 31, 2024, BR Goyal Infra’s revenue from operations stood at ₹578.80 crore compared to ₹345.29 crore in the preceding fiscal year (FY23). Profit after tax for FY24 stood at ₹21.86 crore compared to ₹16.18 crore in FY23.