GR Infra IPO allotment finalised, Grey Market Premium indicates strong listing

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Image Source : GRINFRA.COM

GR Infraprojects IPO allotment finalised, Grey Market Premium indicates strong listing

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GR Infra IPO allotment status, GR Infra IPO GMP: GR Infraprojects Limited has finalised the allotment of its Rs 963-crore initial public offer (IPO). The IPO was subscribed a whopping 102.58 times. It received bids for 83,33,04,538 shares against 81,23,594 shares.

Initiation of refunds for unsuccessful bidders will begin on July 15 while credit of shares into the Demat Account of subscribers will take place on July 16.

The allotment status is available at the direct BSE website — bseindia.com/investors/appli_check.aspx or at the official website of registrar KFintech — kosmic.kfintech.com/ipostatus/

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The initial public offer (IPO) was of 1,15,08,704 equity shares and had a price range of Rs 828-837 per share. Qualified Institutional Buyers (QIBs) category was subscribed 168.58 times, non-institutional investors 238.04 times and those meant for retail individual investors (RIIs) 12.57 times. Earlier, GR Infraprojects mobilised a little over Rs 283 crore from anchor investors.

Experts predict a strong listing for the IPO. Shares of the company are proposed to be listed on BSE and NSE on July 19. In the grey market, GR Infraprojects shares were quoting at a premium of Rs 490 over the issue price. The shares were trading at Rs 1,327 apiece.

GR Infraprojects is a Udaipur-based leading integrated road engineering, procurement, and construction (EPC) company with experience in the design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.

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