GR Infraprojects IPO Opens For Bidding Today-Price Band at Rs 828 to 837 per share

GR Infraprojects' Rs 963 crores initial public offering (IPO) opens for bidding today i.e. July 7, 2021. The Udaipur-based company's public issue will entirely be an offer-for-sale (OFS) of up to 1.15 crore shares by the promoter and shareholders. The IPO will remain open for three days, till July 9. The company has fixed the price band at Rs 828 to Rs 837 per share. The shares are likely to be listed on the stock exchanges on July 19.

The OFS will include sale of 11,42,400 shares by Lokesh Builders, 1,27,000 shares by Jasamrit Premises and 80,000 shares by Jasamrit Fashions. As many as 2.25 lakh shares will be reserved for eligible employees.

Retail investors can apply for a minimum on lot of 17 shares and in multiples thereof, extending up to 14 lots (238 shares).

Ahead of IPO, GR Infraprojects raised Rs 283 crores from anchor investors, including Smallcap World Fund Inc, Abu Dhabi Investment Authority, BlackRock Global Funds, The Master Trust Bank of Japan, and Fidelity.

GR Infraprojects is in the business of civil construction, manufacturing, and development of roads and highways on a build-operate-transfer (BOT) basis. Its peers include KNR, PNC, and IRB Infra.