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Strong listing of GR Infra, 105% premium over issue price listed at Rs 1,715

There has been a tremendous listing of GR Infra shares in the market today. The company’s shares are listed on the NSE at a premium of about 105 percent i.e. Rs 1715. Whereas the issue price of the company was Rs 837.

GR Infra’s IPO opened on 7 July and closed on 9 July. The company is going to raise Rs 962 crore from its issue. The issue price of the company was Rs 828-837. The issue of the company was subscribed 100 times.

The portion of retail investors in GR Infra was subscribed 12.57 times. There was 168.58 times subscription in the Qualified Institutional Buyers category. While the non-institutional investors’ category had 238.04 times subscription.

Udaipur-based GR Infra is a leading Integrated Road, Engineering, Procurement and Construction (EPC) company. Recently the company has diversified its business in the railway sector in the railway sector.

What was the opinion of the analysts?

The analyst has given a strong thumbs up to the IPO of road construction company GR Infraprojects (GRIL). Market experts said that the valuation of this IPO is quite attractive. Its financial figures are quite strong. Its return on equity is much better as compared to other peers. The company has very little debt. Its promoter is very experienced.

In addition, the management of the company is very strong. The company does business in different countries of the world, has a good order book and has a good track record of completing projects in stipulated time. These are all the factors that made the IPO attractive.

 

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