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Ahead of IPO, GR Infraprojects raises Rs 283 crore from anchor investors

Out of the total allocation, as many as 19,18,298 equity shares or 56.67 percent of the total anchor investors allocation have been allocated to 13 mutual funds that have applied through a total of 38 schemes.

July 06, 2021 / 10:19 PM IST
 
 
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Road sector contractor GR Infraprojects on July 6 has garnered Rs 283.33 crore from 47 anchor investors ahead of IPO opening.

The company informed exchanges that under anchor investors (AIs) portion in the public issue of GR Infraprojects, as many as 33,85,110 equity shares have been subscribed at Rs 837 per equity share, a higher end of the price band.

Smallcap World Fund Inc, Abu Dhabi Investment Authority, BlackRock Global Funds, The Master Trust Bank of Japan, and Fidelity among global investors participated in the anchor book offer.

Out of the total allocation, 19,18,298 equity shares (i.e. 56.67 percent of the total anchor investors allocation) have been allocated to 13 mutual funds that have applied through a total of 38 schemes, said the company in its statement filed with exchanges.

Also readGR Infraprojects IPO: 10 key things to know before subscribing the public issue

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Domestic investors including HDFC Trustee, Aditya Birla Sun Life, UTI MF, Axis MF, Kotak MF, HDFC Life Insurance, Sundaram MF and Motilal Oswal MF invested in GR Infraprojects via anchor book.

The road engineering, procurement and construction (EPC) company is planning to raise Rs 962 crore through public issue during July 7-9, at a higher end of the price band of Rs 828-837 per equity share.

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The public issue is a complete offer for sale of up to 1,15,08,704 equity shares, including an employee reservation portion, by existing shareholders.

GR Infraprojects is an EPC company with experience in design and construction of various road and highway projects across 15 states in India and having recently diversified into projects in the railway sector.

Its principal business operations are broadly divided into three categories - civil construction activities; development of roads, highways on a build operate transfer (BOT) basis; and manufacturing activities.
Moneycontrol News
first published: Jul 6, 2021 10:19 pm

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