Let’s have a detailed review of the company and analytics of the G R Infraprojects IPO release date, IPO offer price, subscription, G R Infraprojects Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.

Face ValueRs 5
Price BandRs. 828 to Rs. 837
Listing AtBSE, NSE
Min. Order Quantity17 Shares
Listing Date17 Shares
Offer for SaleRs 9632.8 Million
IPO SizeRs 9632.8 Million
Tick Size1

G R Infraprojects IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.


G R Infraprojects IPO – Summary

G R Infraprojects IPOThey are 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 and have recently diversified into projects in the railway sector.

Their Company was incorporated in December 1995 and they have gradually increased their execution capabilities in terms of the size of projects that they have bid for and executed.

For example, one of the first road projects that they executed was for the Public Works Department, Rajasthan in 1997 with a Bid Project Cost of Rs.26.50 million, whereas the project recently awarded by NHAI, i.e. Vadodara Mumbai Expressway project in the state of Maharashtra on HAM basis, to them in 2020 involves a Bid Project Cost of Rs.27,470.00 million.

The Promoters of this company are VINOD KUMAR AGARWAL, AJENDRA KUMAR AGARWAL, PURSHOTTAM AGARWAL, AND LOKESH BUILDERS PRIVATE LIMITED. The lead managers to the issue are HDFC Bank Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited*, SBI Capital Markets Limited, Equirus Capital Private Limited, and the Registrar to this issue is KFin Technologies Private Limited.


G R Infraprojects IPO Date

The opening and the closing date of the IPO of G R Infraprojects Limited are Jul 7, 2021, and Jul 9, 2021.


G R Infraprojects IPO Subscription

Day / DateQIBNIIRIIEmployeeTotal Subscription
1st Day – 7 July0.49x2.68x3.25x0.24x2.28x
2nd Day – 8 July2.79x6.31x7.50x0.75x5.75x
3rd Day – 9 July168.58x238.04x12.57x1.37x102.58x
Shares Offered or Net Issue2,256,7411,692,5563,949,297225,0008,123,594

The shares subscribed by the public will be updated here.

Check G R Infraprojects IPO LIVE Subscription

  • G R Infraprojects IPO LIVE Bid details on BSE
  • G R Infraprojects IPO LIVE Bid details on NSE

For the Latest Bid details click on the above links.


G R Infraprojects IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.

G R Infraprojects Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing, and more:

Basis of Allotment FinalizationJul 14, 2021
Refunds InitiationJul 15, 2021
Credit of Shares to Demat AccountJul 16, 2021
Share Listing DateJul 19, 2021

GR Infraprojects IPO Price Band / Cash Price

The face value of each share is Rs.5, but the price band of the IPO is Rs.828 to Rs. 837. 


GR Infraprojects IPO Equity Size

This Initial Public Issue of 11,508,704 Equity Shares of Rs.5 each for cash at a price of Rs.[●]  per equity share aggregating to Rs.9632.8 Million.


G R Infraprojects IPO Share Offering

Offer for Sale: 11,508,704 equity Shares, of cash price Rs.[●] aggregating to Rs.9632.8 Million.

Issue Size: 11,508,704 Equity Shares of Rs.5 each, aggregating to Rs.9632.8 Million

Net Offer: The Offer less the Employee Reservation Portion


GR Infraprojects IPO – Live Performance

The listing date of this IPO is Jul 19, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.


G R Infraprojects IPO Grey Market Premium

The G R Infraprojects Limited IPO Grey Market Premium price is Rs 560, the Kostak rate is Rs 0 and the Subject to Sauda is Rs 0. 


GR Infraprojects IPO – Company Overview

Their principal business of civil construction comprises EPC and BOT projects in the road sector. They have, since 2006, executed over 100 road construction projects.

They have one operational road project which has been constructed and developed by them on a BOT (annuity) basis and 14 road projects which have been awarded to them under the HAM, out of which five projects are currently operational, four projects are under construction and construction is yet to commence on five of these projects.

The company also has experience in constructing state and national highways, bridges, culverts, flyovers, airport runways, tunnels, and rail over-bridges. They are 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 and have recently diversified into projects in the railway sector.

Their principal business operations are broadly divided into three categories:

(i) civil construction activities, under which they provide EPC services;

(ii) development of roads, highways on a Build Operate Transfer (“BOT”) basis, including under annuity and Hybrid Annuity Model (“HAM”); and

(iii) manufacturing activities, under which they process bitumen, manufacture thermoplastic road-marking paint, electric poles, and road signage and fabricate and galvanize metal crash barriers.


G R Infraprojects IPO – Financial Statements

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

Financial Summary:

Amount (in INR & Million)
31-Mar-2131-Mar-20Mar-19
Total Assets1,01,160.4577,834.1658,287.31
Total Revenue79,069.4364,237.0553,255.30
*Total Expense65,823.0452,696.2143,178.42
Profit After Tax9,532.218,008.327,166.38

Earnings per Equity Share (in Million)

31-Mar-2131-Mar-20Mar-19
Basic & Diluted98.3182.5973.91

G R Infraprojects IPO – Promoters

The Promoter of this company is:

  1. VINOD KUMAR AGARWAL,
  2. AJENDRA KUMAR AGARWAL,
  3. PURSHOTTAM AGARWAL AND
  4. LOKESH BUILDERS PRIVATE LIMITED

List of Related Parties (Key Managerial Personnel)

  • Ajai Kumar Singh Chauhan, President, and Head (contracts management)
  • Anand Rathi, Chief Financial Officer
  • Sudhir Mutha, Company Secretary, and Compliance Officer

G R Infraprojects IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Up to 11,508,704 Equity Shares aggregating up to Rs.9632.8 Million
of which:
Offer for SaleUp to 11,508,704 Equity Shares aggregating up to Rs.9632.8 Million
Of which:
Employee Reservation PortionUp to 225,000 Equity Shares aggregating up to Rs.[●] Million
Net OfferNot less than 11,283,704 Equity Shares
Of which:
QIB PortionNot more than 5,641,851 Equity Shares
Non-Institutional PortionNot less than 1,692,556 Equity Shares
Retail PortionNot less than 3,949,297 Equity Shares
 Equity Shares outstanding prior to the Issue96,689,010 Equity Shares
 Equity Shares outstanding after the IssueX Equity Shares

G R Infraprojects IPO Issue Object

The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges.

Their Company expects that listing of the Equity Shares will enhance their visibility and brand and provide liquidity to its existing Shareholders. Their Company will not directly receive any proceeds from the Offer and all proceeds from the Offer will be received by the Selling Shareholders, in proportion to the Equity Shares offered by them in the Offer for Sale.

G R Infraprojects IPO – Business Strategy

  • Continued focus on their road EPC business
  • Pursue other segments within the EPC space
  • Leverage core competencies with enhanced in-house integration
  • Strengthen internal systems and continue to focus on technology and operational efficiency
  • Financial discipline coupled with a strategy to monetize assets

G R Infraprojects IPO – Basis of 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:

  • focused EPC player with road projects focus;
  • established track record of timely execution;
  • in-house integrated model;
  • strong financial performance and credit rating; and
  • experienced Promoters with a strong management team.

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-2198.3123.95411.63
31-Mar-2082.5926.45
Mar-1973.9132.14

G R Infraprojects IPO: Competitive Peers

Face Value (Rs.)P/EEPS  (Rs.)Return on Net Worth (%)NAVTotal Income (Rs. in Million)
G R Infraprojects Limited598.3123.95%411.6379,069.43
Listed Peers
KNR Constructions Limited215.2014.4920.79%69.67 29,552.56
PNC Infratech Limited212.9019.3716.28%119.01 58,988.93
HG Infra Engineering Limited1010.5836.3122.27%163.0426,171
Dilip Buildcon Limited1017.4231.927.84% 248.58 1,02,104.96
Ashoka Buildcon Limited510.619.8444.60%22.06 51,218.72
IRB Infrastructure Developers Limited1048.743.33 1.70%196.3554,875.29
Sadbhav Engineering Limited11.6546.2149.53%93.338,621.55

G R Infraprojects IPO Lead Managers

Lead Managers
HDFC Bank Limited,

ICICI Securities Limited,

Kotak Mahindra Capital Company Limited,

Motilal Oswal Investment Advisors Limited*,

SBI Capital Markets Limited,

Equirus Capital Private Limited

G R Infraprojects IPO Registrar to offer

Registrar to the Offer
KFin Technologies Private Limited
Selenium Tower-B, Plot 31 and 32, Gachibowli, Financial
District, Nanakramguda, Serilingampally, Hyderabad – 500032, Telangana, India
Telephone: +91 40 6716 2222
E-mail: gril.ipo@kfintech.com
Website: www.kfintech.com
Investor grievance e-mail: einward.ris@kfintech.com
Contact person: M Murali Krishna
SEBI registration number: INR000000221

G R Infraprojects IPO – Other Details

  • Statutory Auditor – B S R & Associates LLP
  • Legal Counsel to the Company – B S R & Associates LLP
  • Bankers to the Company –  Axis Bank Limited, Bank of India, Export-Import Bank of India, HDFC Bank Limited, IDFC FIRST Bank Limited, IndusInd Bank Limited, Punjab National Bank, State Bank of India, Union Bank of India, Yes Bank Limited


G R Infraprojects IPO Review by Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

 


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    G R Infraprojects IPO Review FAQs

    What is the Issue Size of G R Infraprojects IPO?

    The Company is making an initial public offer of 11,508,704 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.

    What is the Price band of G R Infraprojects IPO?

    The price band for this particular IPO, i.e. G R Infraprojects IPO ranges between Rs. 828 to Rs. 837. As far as the face value of the share is of concern, it is Rs.5 per share.

    What is the G R Infraprojects IPO Open Date?

    The opening and closing dates for G R Infraprojects IPO have been updated. The IPO is set to open on Jul 7, 2021, while the closing date is set at Jul 9, 2021.

    What is the G R Infraprojects IPO Allotment Date?

    They also have the news regarding the respective allotment dates of G R Infraprojects IPO. Basis of Allotment finalization is on Jul 14, 2021, refund initiation is on Jul 15, 2021, credit of shares is on Jul 16, 2021, and share listing date is on Jul 19, 2021.

    What is the G R Infraprojects IPO Listing Date?

    Shares of G R Infraprojects shall be listed in the exchanges on Jul 19, 2021. The date, when the listing would be done, is stagnant on Jul 19, 2021.

    Who is the Registrar of G R Infraprojects IPO?

    One of the reputed registrars is managing the issue of G R Infraprojects IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.

    Who is the Promoter of G R Infraprojects IPO?

    Here are the promoters of G R Infraprojects – VINOD KUMAR AGARWAL, AJENDRA KUMAR AGARWAL, PURSHOTTAM AGARWAL, AND LOKESH BUILDERS PRIVATE LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.

    What is the GMP of G R Infraprojects IPO?

    They have obtained the GMP of G R Infraprojects IPO and it is Rs 560. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.

    Is G R Infraprojects IPO good for Investment?

    They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.

    What is the PAT of G R Infraprojects Company?

    They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 9,532.21, 2020 is 8,008.32, 2019 is 7,166.38. 


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