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G R Infraprojects Ltd IPO

Closed

IPO Details

  • Open Date 07-Jul-21
  • Close Date 09-Jul-21
  • Lot Size 17 Equity Shares
  • IPO Size ₹ ₹ 952.92 - 963.28 Cr Cr
  • IPO Price Range ₹ 828 - 837
  • Min Investment ₹ 14229
  • Listing Exchange NSE, BSE
  • Basis of Allotment 14-Jul-21
  • Refunds 15-Jul-21
  • Credit to Demat Account 16-Jul-21
  • Listing Date 19-Jul-21

G R Infraprojects Ltd IPO Subscription Status

G R Infraprojects IPO Subscription Status

Category

 Subscription Status
Qualified Institutional (QIB) 168.58 Times
Non-Institutional (NII) 238.04 Times
Retail Individual 12.57  Times
Employee 1.37 Times
Total 102.58  Times

 

G R Infraprojects IPO Subscription Details (Day by Day)

Date QIB NII Retail Employee Total
July 7, 2021 17:00 0.49x 2.68x 3.25x 0.24x 2.26x
July 8, 2021 17:00 2.79x 6.31x 7.50x 0.75x 5.75x
July 9, 2021 17:00 168.58x 238.04x 12.57x 1.37x 102.58x

IPO Synopsis

The offer is fully comprised of an offer for sale of 11,508,704 shares aggregating up to ₹963.28  
crores at the upper price band. The proceeds would go directly to such selling shareholders. The objective of offer is to provide the company with brand visibility once it’s shares get listed on the exchanges.

About G R Infraprojects Ltd

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.

G R Infraprojects - Financials

Particulars (Rs million)

FY19

FY20

FY21

Revenue from Operations

52,825.84

63,726.99

78,441.29

EBITDA

13,263.07

16,370.84

19,125.41

EBITDA Margin (%)

24.90

25.49

24.19

PAT

7,166.38

8,008.32

9,532.21

PAT Margin (%)

13.46

12.47

12.06

EPS

73.91

82.59

98.31

RoNW (%)

32.14

26.45

23.95

Net Debt to Equity (x)

0.86

0.87

1.07


Competitive Strengths:

Focus on EPC projects with a Pan-India presence
G R Infraprojects Limited is focused on EPC projects which executes a range of construction projects involv-ing varying degrees of complexity. The company’s focused approach would enable them to benefit from future market opportunities and expand into new markets. This combined with the company’s technical experience and pricing, will be critical in competing in the industry.

G R Infraprojects Limited’s Order Book primarily comprised of EPC and HAM projects in the road sec-tor across the states of Uttar Pradesh, Madhya Pradesh, Maharashtra, Gujarat, Chhattisgarh, Rajasthan, Andhra Pradesh, Bihar, Manipur, Odisha and Himachal Pradesh. In addition to these, they also have railway projects in Andhra Pradesh and Madhya Pradesh and an optical fibre project spread across the states of Bihar, Odisha, West Bengal, Andaman and Nicobar Islands, Jharkhand and Sikkim. This shows the pan-India presence that the company has.

Established track record of timely execution 
G R Infraprojects Limited has more than 25 years of experience in the business which enables them in efficient project management and execution of projects with the help of trained and skilled     manpower, efficient deployment of equipment and an in-house integrated model. In the last three years, all the projects were completed within the scheduled time. In addition, in Fiscals 2021, 2020, and 2019, of the total projects completed by the company, 50.00%, 50.00% and 80.00% of such projects were completed before the scheduled completion date, respectively. Timely completion of the projects also enables them to get a bonus.

Risks:

  • Continued effect of Covid-19 pandemic on the company’s business and operations is highly uncertain and cannot be predicted.
  • Failure to obtain new contracts would materially affect the company’s business.
  • Business is dependent on road projects awarded by the GoI or the State Governments and any adverse change in their policies may lead to contracts getting terminated, renegotiated or foreclosed. This would have a material impact on the company’s business

How to apply for IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

Contact Details of G R Infraprojects Ltd IPO

Contact Information

G R Infraprojects Limited
Revenue Block No. 223, Old Survey No.384 /1, 384/2
Paiki and 384 / 3, Khata No. 464, Kochariya,
Ahmedabad, Gujarat - 382220

Phone: +91 294 248 7370
Email: cs@grinfra.com
Website: https://www.grinfra.com/

G R Infraprojects Ltd IPO Register

KFintech Private Limited

KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India - 500 032.

Phone: 04067162222, 04079611000
Email: gril.ipo@kfintech.com
Website: https://karisma.kfintech.com/

G R Infraprojects Ltd IPO Lead Manager

  1. Equirus Capital Private Limited
  2. HDFC Bank Limited
  3. ICICI Securities Limited
  4. Kotak Mahindra Capital Company Limited
  5. Motilal Oswal Investment Advisors Pvt Ltd
  6. SBI Capital Markets Limited