B R Goyal Infrastructure IPO – Review, Allotment Status, Subscription, Date & more

B R Goyal Infrastructure is a construction companies of India, releasing its IPO this year. The issue size of this IPO is Rs. 3044.50 lakhs. It is another SME IPO of 2018. In this Article, we will discuss in detail about B R Goyal Infrastructure IPO along with in-depth understanding of B R Goyal Infrastructure IPO Subscription, Price band, B R Goyal Infrastructure IPO Issue Size, Equity Shares, Company Background & more.

B R Goyal Infrastructure IPO Review & Ratings

B R Goyal Infrastructure IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.4/10
Industry Ranking 6.3/10
Company Background6.6/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.6/10
Promoters Reputation6.3/10
Retail Appetite 6.6/10
Top Brokers Review6.3/10
Overall Ratings 6.5/10
Star Ratings★★★☆☆

Summary of B R Goyal Infrastructure IPO

B R Goyal Infrastructure IPOB R Goyal Infrastructure Private Limited is one of the fastest growing construction companies of India focusing on infrastructure customer segment including highways, airports, bridges and culverts and other civil works related to Infrastructure. Company has made Initial Public Issue of 33,45,600 Equity Shares of Rs.10 each at a cash price of Rs.91 aggregating upto Rs.3044.50 lakhs.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

i) total revenue has shown growth from Rs. 10265.99 lakhs to Rs.13850.69 lakhs, representing a CAGR of 16.26%

ii)  EBITDA has shown growth from Rs. 1,485.70 lakhs to Rs.2300.09 lakhs.

iii) The profit after tax has shown growth from Rs.260.36 lakhs to a profit of Rs.608.98 lakhs,representing a CAGR of 52.94%.

The Promoter of this company Brijkishore Goyal, Gopal Goyal and Rajendra Kumar Goyal. The lead manager to the issue is SYSTEMATIX CORPORATE SERVICES LIMITED and the Registrar to this issue is LINKINTIME INDIA PRIVATE LIMITED.


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B R Goyal Infrastructure IPO Date

The opening and the closing date is not yet known.

B.R. Goyal IPO Subscription

 Subscription
Day 1X
Day 2 X
Day 3X
Day 4 X
Day 5 X

The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.

B R Goyal IPO Allotment Status

The details of allotment of shares made by the company to the public will be updated herein once the company is through with the allotment process.

B.R. Goyal IPO Price Band

The IPO is priced at Rs.91 per share which includes a premium of Rs.81 per share.

B.R. Goyal  IPO Issue Size

The Issue Size is 33,45,600 Equity Shares of Rs 91 each and aggregating up to Rs 3044.50 Lakhs.

B R Goyal IPO Equity Share Offer

Issue of upto 33,45,600 Equity Shares of face value of Rs.10 each by the company.



B R Goyal Infrastructure – Company Overview

B.R.Goyal Infrastructure  was originally set as a partnership firm in 1986 in the name and style of M/s. Balkrishna Ramkaran Goyal. The partnership firm was founded by Balkrishna Goyal, Gopal Goyal and Sarla Goyal and was subsequently converted into a private limited company in 2005.  Company is engaged in the construction and development of infrastructure projects such as roads, highways and bridges since inception and has a well-established presence in Indore, Madhya Pradesh.
Our business may be broadly divided into the following four categories:
(i) Civil construction services, including Engineering Procurement Construction (EPC) services;
(ii) Ready Mix Concrete (RMC) manufacturing; and
(iii) Wind power generation.

Competitive Strengths of B.R.Goyal Infrastructure Limited:

  • Established roads and highways sector focused construction developer.
  • Efficient business model.
  • Strong Order Book with growing project portfolio.
  • Technology enabled project management capabilities.
  • Experienced management team.
  • Strong Credit Rating.

Business strategies of B.R.Goyal Infrastructure Limited:

  • Continue focusing on the roads and highways sector.
  • Enhancing execution efficiency.
  • Selectively expand our geographical footprint.
  • Develop relationship with our clients and optimize our client mix.
  • Promotion of our brand recognition.
  • Diversify beyond projects in the roads and highways sector by leveraging existing capabilities.

B R Goyal Infrastructure Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-1731-Mar-1631-Mar-1531-Mar-1431-Mar-13
Total Assets15,060.3113,122.5612,198.8610,712.899,908.69
Total Revenue13,850.6913,752.7810,265.9911,216.7511,916.41
Total Expense11,550.6012,077.488,780.309,552.7610,562.64
Profit After Tax 500.83347.82247.78298.52402.21

Earnings per Equity Share (in Lakh)

31-Dec-1731-Mar-1731-Mar-1631-Mar-1531-Mar-14
Basic and Diluted49.0223.8020.9627.9031.17

From the above statements, one could find that the B R Goyal Infrastructure Limited may perform well.


B R Goyal Infrastructure IPO – Promoters

The Promoter of this company are:  Brijkishore Goyal, Gopal Goyal and Rajendra Kumar Goyal.

List of Related Parties (Key Managerial Personnel)

  • Dasharath Tomar
  • Sharif Sayyed
  • Shweta Motwani

Interest in the promotion of the Company

1. Brijkishore Goyal, Promoter and Director of our Company is also the Director of SIPL and holds 10,36,900 shares constituting 32.40% of the paid up share capital of SIPL.
2. Gopal Goyal, Promoters and Directors of our Company is also the Directors of SIPL and holds 10,15,850 equity shares constituting 31.75% respectively of the paid up share capital of SIPL.


B R Goyal Infrastructure IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
Issue of Equity Shares by the CompanyIssue of upto 33,45,600 Equity Shares of face value of Rs.10 each fully paid of the Company for cash at price of Rs. 91 per Equity Share aggregating Rs. 3044.50 lakhs
 Of which:
Market Maker Reservation PortionUpto 1,68,000 Equity Shares of face value of Rs. 10 each fully paid of the Company for cash at price of Rs. 91 per Equity Share aggregating Rs. 152.88 lakhs
 Net Issue to the Public Upto 31,77,600 Equity Shares of face value of Rs.10 each
fully paid of the Company for cash at price of Rs.91 per
Equity Share aggregating Rs. 2,891.62 lakhs
 Of which:
 Retail Investors Portion up to 2 LakhUpto 15,88,800 Equity Shares of face value of Rs. 10 each fully paid of the Company for cash at price of Rs. 91 per Equity Share aggregating Rs 1455.82 lakhs will be available for allocation to Retail individual investors up to Rs. 2.00 Lakhs
 Non-Retail Investors Portion Above 2 LakhUpto 15,88,800 Equity Shares of face value of Rs. 10 each fully paid of the Company for cash at price of Rs. 91 per Equity Share aggregating Rs. 1445.81 lakhs will be available for allocation to investors above Rs. 2.00 Lakhs
 Equity Shares outstanding prior to the Issue86,96,352 Equity Shares of face value of Rs. 10 each
 Equity Shares outstanding after the IssueUpto 1,20,41,952 Equity Shares of face value of Rs. 10
each

B R Goyal Infrastructure IPO Issue Object

These are the IPO Issue Objects of the company

  • To Meet working capital requirement.
  •  To meet General Corporate Purposes.

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B R Goyal Infrastructure IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Established Roads & Highways sector focused on construction developer
  •  Effective business model.
  • Strong order book with growing project portfolio.
  • Technology enabled project management capabilities
  •  Experienced management team.
  •  Strong financial performance and credit ratings

The relevant quantitative factors are:

  • Earning Per Share(EPS)-
Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-152.996.45%46.44
31-Mar-163.406.82%49.84
31-Mar-177.0012.32%56.84
  • Industry P/E Ratio:
ParticularsP/E ratio
Average36.30
Highest257.90
Lowest3.80

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B R Goyal Infrastructure IPO Lead Managers

Lead Managers
SYSTEMATIX CORPORATE SERVICES LIMITED
A/603-606, The Capital, Plot No. C 70, G Block, Bandra-Kurla Complex,
Bandra (East), Mumbai 400 051, Maharashtra.
Tel: +91-22-6704 8000
Fax:+91-22-6704 8022
Email: brgipo@systematixgroup.in
Website: www.systematixgroup.in
Contact Person: Manish Tejwani/ Ritu Sharma
SEBI Registration No: INM 000004224
Validity of Registration: Permanent

B R Goyal Infrastructure IPO Registrar to offer

Registrar to the Offer
LINKINTIME INDIA PRIVATE LIMITED
C-101, 247 Park, L B S Marg, Vikhroli West,
Mumbai 400083, Maharashtra.
Tel: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: brgoyal.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058
Validity of Registration: Permanent

Other Details:

  • Legal Counsel to the Issue – Rajani Associates
  • Peer Review Auditor/ Statutory Auditor *- M/s. Mahesh C. Solanki & Co.; Chartered Accountants
  • Bankers to the Company – Axis Bank, ICICI Bank and HDFC Bank Limited

B.R.Goyal Infrastructure IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

The ratings would be updated once the financials and the other details of the IPO are released.


 IPO Grey Market Premium

The B.R.Goyal Infrastructure IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.


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B.R.Goyal Infrastructure IPO News

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