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GR Infraprojects Ltd had made its debut on the bourses as the market value of its equity shares more than doubled or rose 103 per cent to list at Rs 1,700 on the BSE in Monday’s session against its issue price of Rs 837 per share.
The stock was trading at Rs 1,636 after hitting a high of Rs 1,725 post its listing. Around 167,000 equity shares had changed hands on the counter, the exchange data shows. Rajasthan-based roads and highways construction major raised Rs 963 crore via initial public offer (IPO). The issue witnessed healthy demand from investors as it received 102.58 times bids. The portion set aside for qualified institutional buyers was subscribed 168.58 times and that of non-institutional investors 238.04 times. Retail investors made recommendations for 12.57 times their reserved piece, and employees applied for 1.37 times their portion.
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As of March 31, 2021, GR Infraprojects had an order book of Rs 19,025.81 crore which comprised 16 engineerings, procurement and construction (EPC) projects, 10 hybrid annuity models (HAM) projects, and three other projects.
Stock Covered in the news
