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GR Infraprojects IPO subscribed 2.28 times on day 1; NII portion booked 2.68 times

Anand Rathi believes GR Infraprojects is poised to deliver healthy growth on the topline as well as the bottomline on the back of its strong order book

July 07, 2021 / 05:52 PM IST
Representative image

Representative image

  • bselive
  • nselive
Todays L/H

The public offer of road EPC company GR Infraprojects has been subscribed 2.28 times so far on July 7, the first day of bidding. Investors have put in bids for 1.85 crore equity shares against offer size of 81.23 lakh shares.

Retail investors are at the forefront, putting in bids 3.25 times their reserved portion, the subscription data available on exchanges showed.

The portion set aside for non-institutional investors has subscribed 2.68 times and that of employees 24 percent, while qualified institutional buyers have put in bids for 49 percent of their reserved portion.

GR Infraprojects is planning to raise Rs 963.3 crore through its public issue comprising a complete offer for sale by existing shareholders. Of which, Rs 283 crore has already been raised from anchor investors at a higher end of the price band of Rs 828-837 per share.