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GR Infraprojects share makes strong debut, lists at 105% premium to IPO price

GR Infraprojects share makes strong debut, lists at 105% premium to IPO price

The share made its debut at Rs 1,715.85 against initial public offering (IPO) issue price of Rs 837, clocking gain of 105% on NSE

GR Infraprojects share doubles investor wealth on market debut GR Infraprojects share doubles investor wealth on market debut

Share of GR Infraprojects listed 105% higher to its issue price on NSE today.  The share made its debut at Rs 1,715.85 against initial public offering (IPO) issue price of Rs 837, clocking gain of 105% on NSE.

On BSE, the share made its debut at a premium of 103.10%. listing at Rs 1,700 against IPO price of Rs 837. Total 3.76 lakh shares changed hands amounting to turnover of Rs 63 crore on BSE. The share hit an intra day high of Rs 1,734.60.

 Market cap of the firm rose to Rs 16,307 crore on BSE.

 On NSE, market cap of the firm rose to Rs 16,182 crore. Total 69.62 lakh shares changed hands amounting to turnover of Rs 1,165 crore.

The IPO had a price band of Rs 828-837 per share.

 The issue was open from July 7 to July 9, 2021. GR Infraprojects on July 6 mobilised a little over Rs 283 crore from anchor investors.

On final day, the issue was subscribed a whopping 102.58 times.

The IPO received bids for 83.33 crore shares against 81.23 lakh shares on offer on July 9.

The category for qualified institutional buyers (QIBs) was subscribed 168.58 times, non-institutional investors 238.04 times and those meant for retail individual investors (RIIs) 12.57 times.

The initial public offer (IPO) comprised sale of 1,15,08,704 equity shares.

HDFC Bank, ICICI Securities, Kotak Mahindra Capital Company, Motilal Oswal Investment Advisors, SBI Capital Markets, and Equirus Capital were the managers of the offer.

Udaipur-based GR Infraprojects is a leading integrated road engineering, procurement, and construction (EPC) company with experience in the design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.