GR Infraprojects Limited IPO –The Initial Public Offering (IPO) of GR Infraprojects Limited (GRIL) opened on 7 July 2021. The three-day public issue will conclude on 9 July 2021. How has been the response till now for this public issue? Want to know? Here is the update:-

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At 1:48 pm today, the GR Infraprojects Limited IPO shares were subscribed 0.46 time. Out of over 8.12 million shares, just over 3.73 million shares were subscribed. The Retail Individual Investors (RIIs) have show good response till now and subscribes 0.93 times around this time. Meanwhile Qualified Institutional Buyers (QIBs) subscribed 0.01 times around this time. The non-institutional investors subscribed 0.02 times. This information is as per the data available on the NSE Website.  

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Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking said that one must not pick too much from this as this is just the starting. He said that by the end of the day one must expect the subscription to each 100 per cent.  

The start may look slow but the pace of subscription will pick from the second day onward, he added, saying that the IPO has good potential. One may expect maximum action on 9 July – the day when the issue concludes.    

GRIL is an integrated road engineering, procurement and construction (EPC) company and the company has road and highway projects across 15 States in India, the company claimed in a media release.  

GR Infraprojects Limited IPO – This is what you must know about the IPO:  

  1. The price band of Rs 828 – Rs 837 per equity share of face value of Rs 5 each.  
  2. The issue opens on 7 July (Wednesday) and closes on 9 July (Friday)  
  3. Minimum Bid Lot is 17 Equity Shares and in multiples of 17 equity shares thereafter  
  4. The floor price is 165.60 times the face value of the equity share and the cap price is 167.40 times the Face Value of the equity shares.  
  5. The offer will be a complete Offer for Sale (OFS) up to 1.15 cr equity shares approximately. This offer includes an employee reservation portion as well.   
  6. The offer being only an Offer for Sale, company will not receive any proceeds from the offer, the company release said.  

OFS Break-up  

The OFS comprises of up to 1.142 mln equity shares by Lokesh Builders Private Limited  

Up to 127,000 equity shares by Jasamrit Premises Private Limited   

Up to 80,000 equity shares by Jasamrit Fashions Private Limited  

Up to 56,000 equity shares by Jasamrit Creations Private Limited,   

Up to 44,000 equity shares by Jasamrit Construction Private Limited   

Up to 64,14,029 equity shares by India Business Excellence Fund 1   

Up to 31,59,149 equity shares by India Business Excellence Fund   

Up to 486,126 equity shares by Pradeep Kumar Agarwal  

The Offer is being made through the Book Building Process wherein up to 50 per cent of the net offer will be available for allocation to Qualified Institutional Buyers (QIBs), 15 per cent or above of the net offer will be available for allocation to Non-Institutional Bidders and 35 per cent or above of the net offer will be available for allocation to Retail Individual Investors (RIIs).   

HDFC Bank Limited, ICICI Securities, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited, Equirus Capital Private Limited are the Book Running Lead Managers (BRLMs) to the offer.