Shares of G R Infraprojects were currently trading at Rs 1695, at a premium of 102.51% compared with the issue price of Rs 837 per share.
The scrip was listed at Rs 1700 per share, at a premium of 103.11% to the initial public offer (IPO) price.
So far, the stock has hit a high of 1734.60 and a low of 1550. On the BSE, over 3.35 lakh shares of the company were traded in the counter.
The IPO of G R Infraprojects received bids for 83.33 crore shares as against 81.23 lakh shares on offer. The issue was subscribed 102.58 times.
The non-institutional investors category was subscribed 238.04 times. The qualified institutional buyers (QIBs) category was subscribed 168.58 times. The retail individual investors category was subscribed 12.57 times.
The issue opened for bidding on Wednesday, 7 July 2021, and closed on Friday, 9 July 2021. The price band for the IPO was set at Rs 828-837 per share.
The public issue was a complete offer for sale of up to 1,15,08,704 equity shares, including an employee reservation portion, by existing shareholders. Thus, the company will not receive any proceeds from the offer.
Ahead of the IPO, the company finalized allocation of 33,85,110 equity shares to anchor investors at Rs 837 per share, aggregating to Rs 283.33 crore.
G R Infraprojects (GRIL) is an integrated road engineering, procurement and construction (EPC) company largely focused on road sector. It executes road projects as EPC contractors, construction services providers as well as through PPP model on a BOT basis, with a focus on HAM projects. The company have also recently diversified into projects in the railway sector.
The company reported a consolidated net profit of Rs 953.22 crore and sales of Rs 7,844.13 crore in the year ended 31 March 2021.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
