G R Infraprojects IPO subscription Details - Day 2

G R Infraprojects IPO has been subscribed 2.28 times today on July 7, the first day of bidding. Investors have put in bids for 1.85 crore equity shares vs. offer size of 81.23 lakh shares.

Retail investors are at the leading the race, putting in bids 3.25 times their reserved portion, the subscription data available on exchanges showed.

The portion set aside for non-institutional investors has subscribed 2.68 times and that of employees 24 percent, whereas qualified institutional buyers have put in bids for 49 percent of their reserved portion.

GR Infraprojects will raise Rs 963.3 crore through its public issue comprising a complete offer for sale by existing shareholders. Of which, Rs 283 crore has already been raised from anchor investors at a higher end of the price band of Rs 828-837 per share.

G R Infraprojects IPO - Subscription Status

Also Check: G R Infraprojects IPO subscription Status - Day 1

About the Company:

G R Infraprojects Limited is an integrated road engineering, procurement and construction (“EPC”) company with experience in design and construction of various roads/highways projects across 15 States in India and having recently diversified into projects in the railway sector. The company was incorporated in December 1995. The company’s principal business operations are broadly divided into three categories:
(i) civil construction activities
(ii) development of roads, highways on a Build Operate Transfer (“BOT”) basis, including under annuity and Hybrid Annuity Model (“HAM”); and
(iii) manufacturing activities, under which they process bitumen, manufacture thermoplastic road-marking paint, electric poles and road signage and fabricate and galvanize metal crash barriers.

The Company has executed over 100 projects since 2006.