G R Infraprojects IPO makes a strong listing on exchanges with over 100% premium, shares open at ₹1700
- Shares of
G R Infraprojectslist at over 100% premium from its price band of ₹828-837 per share.
- The IPO was subscribed 102.58 times on the last day of the bidding.
- The market capitalisation of the company stood at ₹15,950 crore.
Post listing, the market capitalisation of the company stood at ₹15,950 crore, according to BSE data.
At 10:28 a.m., on July 19, shares of G R Infraprojects were trading at ₹1,640.
AdvertisementThe grey market premium of the stock had indicated a 60-70% premium over the issue price. The company was looking to raise ₹962 crore through the public issue of shares.
During the three days of bidding, the initial public offering (IPO) had received a good response from investors considering it was oversubscribed 102.58 times on the last day of bidding.
Most analysts had recommended subscribing to the IPO on huge opportunities in the infrastructure space and strong order book and project execution record of the company.
The issue was open for subscription between June 7 and June 9.
The public issue consists of ₹121 crore by promoters, ₹801 crore by private equity arms of Motilal Oswal and ₹40 crore by other shareholders.
G R 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 also recently diversified into railway projects.
AdvertisementSEE ALSO: Clean Science and Technology IPO: Shares list at 100% premium on exchanges
IT engineers, web developers and more — State governments are inviting applications for paid internships
Popular on BI
- Elon Musk sparks another Shiba Inu rally ‘to the moon’ — other Shiba coins follow suit
- Elon Musk’s puppy, a new strategy to burn tokens, and altcoins playing catch up — the perfect storm for cryptocurrency Shiba Inu to skyrocket
- Apple M1 Pro and M1 Max vs M1: Here’s what Apple improved with its new custom chips
- Best gaming mouse for battle royale games in India
- Best tablets for professional use in India
- Ethereum may offer the best returns, but investors have been pulling away over the last two weeks
- Google starts starts testing new safety section for apps, feature to go live in February 2022
- Horlicks and Boost maker HUL sees slowdown in food segment in the last three months