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Upcoming IPO: G R Infraprojects Limited

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G R Infraprojects Limited, an Engineering, Procurement and Construction (EPC) company with experience in designing and construction activities and road/highway projects, will launch its initial public offer (IPO) on July 7, 2021. The offer will close on July 9, 2021 and the company has fixed the price band at Rs. 828-837 per equity share.

About G R Infraprojects Limited

G R Infraprojects Limited is an integrated road Engineering, Procurement and Construction (EPC) company with experience in the design and construction of various road/highway projects across 15 States in India. The company recently diversified into projects in the railway sector. It mainly undertakes civil construction projects under the EPC and BOT (Build Operate Transfer) basis in the road sector but also diversified into manufacturing activities of thermoplastic road-making paints, electric poles, road signages, and fabricating metal crash barriers.

The Company was incorporated in December 1995 and executed its first projects for the Public Works Department, Rajasthan in 1997 with a Bid Project Cost of  Rs.2.65 Cr, whereas the project recently awarded by NHAI, i.e. Vadodara Mumbai Expressway project in the state of Maharashtra on HAM basis, to the GR Infra IPO in 2020 involves a Bid Project Cost of Rs.2747 Crores.

The company has 3 manufacturing units at Udaipur (Rajasthan), Guwahati (Assam), and Sandila (Uttar Pradesh) for processing bitumen, thermoplastic road-marking paint and road signage and a fabrication and galvanization unit at Ahmedabad, Gujarat for manufacturing metal crash barriers and electric poles

Till April 2021, it has completed 100+ road construction projects successfully, and currently, 4 BOT projects are under construction.

G R Infraprojects Limited IPO Issue Details

OPENS ON: July 7, 2021
CLOSES ON: July 9, 2021
Price band: Rs. 828-837 per share
Lot size: 17 shares
One lot costing: Rs. 14,229
Face Value: Rs. 5 per share
Listing on: NSE, BSE
Issue size: Rs. 960 crores (Fresh issue: Nil  + Offer For Sale: Rs. 960 cr)
Shareholding: Promoter holding will stand at  86.54%  post-issue from  88.04 % pre-issue.

Will list on the exchange on 19th July 2021.

Objects of the issue:

  • To achieve the share listing benefits on the BSE and NSE.
  • To make an offer for sale of up to 11,508,704 shares, aggregating to Rs. 960 crores.

Interesting facts about G R Infraprojects Limited IPO:

  • Well established player in Construction activity. Completing projects in time in the last 20 years. GRIL has a track record of completing projects ahead of schedule. In fiscal 2019, the company completed a state HAM project 13 months ahead of schedule and has received an early completion bonus in October 2020. 
  • The company is going to list at PEof 8.51Xwith a market cap of Rs.80,929 million, while its peers namely KNR Constructions Ltd and PNC Infratech Ltd are trading at 16.6X and 15.10X respectively.
  • Strong project execution capabilities.
  • Expertise in road projects i.e. state and national highways, culverts, flyovers, airport runways, tunnels, etc.

Get the complete coverage of the G R Infraprojects Limited’s IPO in the MSFL Research Report Here. To apply for G R Infraprojects Limited’s IPO, visit our website Marwadi Shares & Finance Ltd.

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