Subscribe to G R Infraprojects: Choice Equity Broking
Choice Equity Broking has come out with its report on G R Infraprojects. The research firm has recommended to ''Subscribe'' the ipo in its research report as on July 02, 2021.
July 06, 2021 / 12:46 PM IST
Clean Science and Technology and GR Infraprojects are headed to the market with their initial share-sale offers next week to raise a little over Rs 2,500 crore cumulatively. (Image: Shutterstock)
Choice Equity Broking IPO report on G R Infraprojects
G R Infraprojects Ltd. an integrated EPC focused player, is planning to raise up to Rs. 963cr through an IPO, which opens on 7th Jul. and closes on 9th Jul. 2021. The price band is Rs. 828 - 837 per share. The issue is OFS only. Thus company will not receive any proceeds from the issue. One of the investors i.e. India Business Excellence Fund (a private equity fund from Motilal Oswal) is fully offloading its 9.9% stake through the OFS route.
Valuation and Outlook
However, with concerns on the sustainability of the EPC profitability in the near term, we assign a “Subscribe for Long Term” rating for the issue.
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