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GR Infraprojects Ltd has fixed a price band of Rs 828-837 apiece for its initial public offering. The firm has said that its issue will open for subscription on 7 July and close on 9 July.
The issue consists of an offer for the sale of 11.51 million shares by existing promoters and shareholders. An OFS comprises 6.41 million shares by India Business Excellence Fund I, 3.16 million shares by India Business Excellence Fund, 1.14 million shares by Lokesh Builders Pvt. Ltd, 4.86 lakh shares by Pradeep Kumar Agrawal, 1.27 million shares by Jasamrit Premises Pvt. Ltd.
On the upper-end issue price, the firm will raise nearly Rs 963.39 crore via IPO. HDFC Bank Ltd, ICICI Securities Ltd, Kotak Mahindra Capital, Motilal Oswal Investment Advisor, SBI Capital Markets, Enquires Capital are the book lead running managers to the issue.
For the fiscal year 2020, the company reported a total income of Rs 6,421.06 crore against Rs 5,323.11 crore a year ago. Net profit for the period stood at Rs 799.23 crore versus Rs 714.51 crore last year.
As of December 2020, its total borrowings were at Rs 4,202.51 crore, while its net worth was Rs 3,725.06 crore. The complete order book stood at Rs 18,221.98 crore.
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