G R Infraprojects IPO gets subscribed 102 times, highest in the sector in over a decade

• G R Infraprojects has been looking to raise ₹962 crore with a complete offer for sale (OFS).
  
• The portion kept aside for retail investors was subscribed 12.57 times on the last day of bidding.
  
• The IPO was open for subscription from July 7 to July 9 with a price band of ₹828-837.

G R Infraprojects’ ₹962 crore public issue saw huge demand from investors as it was subscribed 102.58 times on the last day, July 9. The initial public offering (IPO) was majorly oversubscribed by qualified institutional and non-institutional buyers.

Most analysts had pointed out huge opportunities in the infrastructure space with GR Infraprojects for the long term on a strong order book and project execution record.

Category	Subscription Status
Qualified Institutional Buyers	168.58 times
Non-institutional	238.04 times
Retail individual	12.57 times
Total	102.58 times

The IPO offer is a complete offer for sale (OFS) from promoters. Currently, the promoter holds 88.04% stake in the company and after the initial share sale, this stake will come down to 86.54%. The firm’s public holding will increase from 11.96% to 13.46%.

Also, the road sector contractor’s IPO has been the most oversubscribed IPO in the road and highways sector in over a decade.

Company	Year	Total
GR Infraprojects Ltd	2021	102.58 times
HG Infra Engineering Ltd	2018	4.98 times
Bharat Road Network Ltd	2017	1.81 times
Dilip Buildcon Ltd	2016	20.95 times
Sadbhav Infrastructure Project Ltd	2015	2.24 times
MEP Infrastructure Developers Ltd	2015	1.11 times
PNC Infratech Limited Ltd	2015	1.56 times
Ashoka Buildcon Ltd	2010	15.94 times
Jaypee Infratech Ltd	2010	1.24 times
Man Infraconstruction Ltd	2010	62.53 times
IL&FS Transportation Networks Ltd	2010	33.42 times
MBL Infrastructure Ltd	2009	1.97 times
IRB Infrastructure Developers Ltd IPO	2008	4.30 times
KNR Constructions Ltd	2008	1.25 times
J Kumar Infraprojects	2008	2.17 times

GR Infraprojects is an integrated road engineering, procurement and construction (EPC) company proficient in designing and constructing various road/highway projects, across 15 states in India. It has recently diversified into railway projects.

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