GR Infraprojects on Thursday stated it has mounted a worth band of Rs 828-837 a share for its Rs 963-crore preliminary share sale.
The three-day preliminary public provide (IPO) will open on July 7 and conclude on July 9. Bidding for anchor buyers will open on July 6, based on the corporate.
The difficulty can be an entire provide on the market (OFS) of 1,15,08,704 fairness shares by promoter and investor promoting shareholders. The provide contains an worker reservation portion as effectively.
Lokesh Builders will promote 11,42,400 fairness shares via a proposal on the market, Jasamrit Premises 1,27,000 fairness shares, Jasamrit Fashions 80,000 fairness shares, Jasamrit Creations 56,000 fairness shares, and Jasamrit Construction 44,000 fairness shares.
In addition, India Business Excellence Fund will provide 64,14,029 fairness shares, India Business Excellence Fund 31,59,149 fairness shares and Pradeep Kumar Agarwal may also promote 4,86,126 fairness shares via provide on the market.
The IPO will fetch Rs 963.37 crore on the higher finish of the worth band.
The public difficulty being solely a proposal on the market, the corporate won’t obtain any proceeds from the provide.
Half of the difficulty measurement has been reserved for certified institutional consumers, as much as 35 per cent for retail buyers, and the remaining 15 per cent for non-institutional consumers.
This is the corporate’s third try and go public. It had filed preliminary papers with capital markets regulator Sebi in April to lift funds via an preliminary share-sale.
Earlier in May 2018, GR Infraprojects had filed draft papers with the markets regulator to lift an estimated Rs 1,800 crore via an IPO.
Priot to that, in September 2016 as effectively, the corporate had filed IPO papers with Sebi and obtained the regulator’s go-ahead to launch the general public difficulty. It, nonetheless, didn’t go in for the general public difficulty then.
Udaipur-based GR Infraprojects is a number one built-in highway engineering, procurement and building (EPC) firm with expertise in design and building of varied highway and freeway tasks throughout 15 states in India. It has lately diversified into tasks within the railway sector.
In the final three fiscal years, the corporate’s income from operations elevated from Rs 3,295 crore in fiscal 2018 to Rs 6,373 crore in fiscal 2020 at a compound annual progress fee or CAGR of 39 per cent, whereas the revenue surged from Rs 413 crore in fiscal 2018 to Rs 799 crore in fiscal 2020.
As on March this yr, the corporate had an order ebook of Rs 19,000 crore.
HDFC Bank, ICICI Securities, Kotak Mahindra Capital Company, Motilal Oswal Investment Advisors, SBI Capital Markets, Equirus Capital are the ebook working lead managers to the difficulty.
The fairness shares provided are proposed to be listed on BSE and NSE.