GR Infraprojects IPO: 8 IMPORTANT things to know about this initial public offering

GR Infraprojects 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 and has recently diversified into projects in the railway sector. The company is all set to open its initial public offering (IPO) for subscription on July 7. Know here all the important details related to the IPO:-

Promoters: The company's promoters are Vinod Kumar Agarwal, Ajendra Kumar Agarwal, Purshottam Agarwal and Lokesh Builders Private Limited.

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Equity Shares: Offer of Equity Shares is up to 11,508,704 equity shares, of which employee reservation portion is up to 225,000 equity shares and net offer is up to 11,283,704 equity shares 

Objective: The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the offer for sale of up to 11,508,704 equity shares by the selling shareholders 

Face Value: Initial Public Offering of up to 11,508,704 equity shares of face value of Rs 5 each 

Open/ Closing Dates: The public issue will open for subscription on July 7, 2021 and will close on July 9, 2021 

Price Band: The price band for the offer has been fixed at Rs 828-837 per equity share. 

Lead Managers:  HDFC Bank, ICICI Securities, Kotak Investment Banking, Motilal Oswal, SBI Capital Markets, Equirus Capital, KFin Technologies are the book running lead managers to the IPO. 

Company Background: G R Infraprojects was incorporated in December 1995 and we have gradually increased our execution capabilities in terms of the size of projects that we have bid for and executed. For example, one of the first road projects that we executed was for the Public Works Department, Rajasthan in 1997 with a Bid Project Cost of ₹ 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 us in 2020 involves a Bid Project Cost of ₹ 27,470.00 million. Our individual Promoters have more than 25 years of experience in the construction industry. Prior to the incorporation of our Company, our individual Promoters were associated with M/s. Gumani Ram Agarwal, a partnership firm engaged in the construction business, which was acquired by our Company in 1996.