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GR Infrastructure Projects IPO: Can it cruise on the capital market highway?

Sector tailwinds, proven execution track record, better margin profile and valuation discount to peers mean the IPO has all the ingredients to perfrom well at the bourses

July 07, 2021 / 10:58 AM IST
GR Infrastructure Projects IPO: Can it cruise on the capital market highway?

Highways (Representative image)

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The road construction sector is a key focus area of the government and it plans to invest about Rs 17 lakh crore over FY21-25, which is about 1.6x higher compared to FY16-20. The sector was among the few to be unaffected by COVID-19, and it reported a mid-single digit top line growth in FY21. The second wave of COVID-19 is unlikely to have any material impact as most of the labour has remained in the project sites, and with buoyant...

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