GR Infraprojects Limited IPO – Two public issues are lined up over the next week. One is the Initial Public Offering (IPO) of GR Infraprojects Limited (GRIL) which will open on Tuesday i.e. 7 July 2021. The public issue will conclude on 9 July 2021. Another, public issue will be of Clean Science and Technology Limited that will also open on the same day.
Here is all you need to know about GR Infraprojects IPO:
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GRIL is an integrated road engineering, procurement and construction (EPC) company and the company has road and highway projects across 15 States in India, the company said in a media release.
GR Infraprojects Limited IPO – This is what you must know about the IPO:
- The price band of Rs 828 – Rs 837 per equity share of face value of Rs 5 each.
- The issue opens on 7 July (Wednesday) and closes on 9 July (Friday)
- Minimum Bid Lot is 17 Equity Shares and in multiples of 17 equity shares thereafter
- The floor price is 165.60 times the face value of the equity share and the cap price is 167.40 times the Face Value of the equity shares.
- The offer will be a complete Offer for Sale (OFS) up to 1.15 cr equity shares approximately. This offer includes an employee reservation portion as well.
- The offer being only an Offer for Sale, company will not receive any proceeds from the offer, the company release said.
- The OFS comprises of up to 1.142 mln equity shares by Lokesh Builders Private Limited
- Up to 127,000 equity shares by Jasamrit Premises Private Limited
- Up to 80,000 equity shares by Jasamrit Fashions Private Limited
- Up to 56,000 equity shares by Jasamrit Creations Private Limited,
- Up to 44,000 equity shares by Jasamrit Construction Private Limited
- Up to 64,14,029 equity shares by India Business Excellence Fund 1
- Up to 31,59,149 equity shares by India Business Excellence Fund
- Up to 486,126 equity shares by Pradeep Kumar Agarwal
The Offer is being made through the Book Building Process wherein up to 50 per cent of the net offer will be available for allocation to Qualified Institutional Buyers (QIBs), 15 per cent or above of the net offer will be available for allocation to Non-Institutional Bidders and 35 per cent or above of the net offer will be available for allocation to Retail Individual Investors (RIIs).
HDFC Bank Limited, ICICI Securities, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited, Equirus Capital Private Limited are the Book Running Lead Managers (BRLMs) to the offer.