At 5:00 pm, out of the full 81,23,594 shares on provide, traders bid for 83,33,04,538 shares.
The promoters and shareholders of the corporate goal to boost Rs 963 crore from main markets. Most analysts had advisable traders to ‘subscribe’ to the difficulty as they consider shares are being supplied at a relatively cheaper valuation.
“GR Infraprojects is bringing the issue at a price band of Rs 828-837 per share at PE multiple 8.5 on FY21 EPS basis. We like the financial performance posted by the company with healthy balance sheet status,” analysts at Hem Securities stated.
“As the company strives to maintain a robust financial position and low debt levels along with an emphasis on a strong balance sheet enable the company to pursue future opportunities for growth. Hence we recommend ‘subscribe’ on the issue both for listing gain and long term purpose,” they added.
As of March 31, the corporate had a wholesome order e book of Rs 19,025.80 crore and comprised 16
tasks, 10 HAM tasks, and three different tasks which provides sturdy income visibility going ahead.
Of the full shares on provide, 50 per cent shall be accessible for allocation on a proportionate foundation to certified institutional patrons (QIBs). Further, not lower than 15 per cent of the provide shall be accessible for non-institutional bidders and the remainder for retail traders. Up to 225,000 shares are reserved for workers. Bidding will be positioned in a whole lot of 17 shares.
GR Infraprojects is an built-in street engineering, procurement, and building firm with expertise in designing and setting up numerous street/freeway tasks throughout 15 states in India and has just lately diversified into tasks within the railway sector.