BR Goyal Infrastructure IPO subscribed nearly 5 times so far on day 2 as retail investors lead: Check lot size and key dates

BR Goyal Infrastructure IPO: The initial public offering of BR Goyal Infrastructure has been subscribed nearly five times on Wednesday, January 8, the second day of bidding.

The BSE SME issue received bids for 2,25,01,000 shares against the 45,26,000 shares on offer, leading to a 4.97 times subscription till 1:40 pm.

The retail portion has been subscribed 8.66 times, while the non-institutional investors (NIIs) category was booked 3.19 times.

The quota for qualified institutional buyers (QIBs) received 47% subscription.

The initial share sale, with a price band of ₹128-₹135 per share, will conclude on Thursday.

The ₹85.21 crore IPO is exclusively a fresh issuance of 63.12 lakh shares. The money generated will be used to fund capital expenditures and the working capital requirement.

The proceeds will also be used for inorganic growth and general corporate purposes.

"The IPO funding will not only help us overcome this hurdle but also be strategically allocated towards capital expenditures, acquisitions, and other growth-oriented initiatives," Brij Kishore Goyal, Chairman and Managing Director (MD) of BR Goyal Infrastructure Ltd, said.

BR Goyal Infrastructure IPO lot size

Retail investors can bid for at least 1,000 shares for a minimum investment of ₹1,35,000. For high-net-worth individuals (HNIs), the minimum investment is ₹2,70,000.

BR Goyal Infra IPO allotment and listing date

• Subscription period: January 7 to January 9
• Basis of allotment: January 10
• Initiation of refunds: January 13
• Credit of shares to Demat: January 13
• Listing: January 14

BR Goyal Infrastructure specialises in infrastructure and road construction projects as an EPC contractor and service provider. It looks after all project phases, from design to site execution.

As of July 2024, the Indore-based firm had revenue of ₹155.51 crore and a post-tax profit of ₹1.97 crore.

Beeline Capital Advisors is the issue's sole book-running lead manager, and Link Intime India Pvt Ltd is the registrar.