GR Infraprojects IPO: The IPO of the Road Engineering, Procurement, and Construction (EPC) company will launch on July 7. The company will issue 1,15,08,704 equity shares through the issue. The company’s issue price band has been fixed at Rs 828-837. This price band is 165.60-167.40 times the face value of Rs 5.
his IPO is purely an offer for sale. In this, promoters, promoter groups, and investors will sell their stakes.
Promoters will be in profit, Lokesh Builders will sell 11,42,400 equity shares due to offer for sale. On the other hand, Jasmeet Premises will sell 1.27 lakh equity shares, Jasmeet Fashions 80,000 equity shares, Jasmeet Creations 56,000 equity shares, and Jasmeet Construction 44,000 equity shares in the offer for sale.
India Business Excellence Fund and India Business Excellence Fund 1 will exit from GRIL through this IPO. That is, both these funds will sell their entire stake in 95.73 lakh shares in this IPO. Apart from these, the company’s investor Pradap Agarwal will also sell some of his 5 lakh equity shares.
GR Infraprojects has appointed HDFC Bank, ICICI Securities, Kotak Mahindra Bank, and Motilal Oswal as investment advisors for this IPO. At the same time, SBI Capital Markets and Enquires Capital are the book lead running managers. Whereas the registrar of this public issue is KFin Technologies.
listed. In this IPO, 2.25 lakh shares are reserved for the employees of the company. GRIL’s peer companies that have been listed on the stock market include KNR Constructions, PNC Infratech, HG Infra Engineering, Dilip Buildcon, Ashoka Buildcon, IRB Infrastructure Developers, and Sadbhav Engineering.
GR Infraprojects IPO Full Details
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