Qualified institutional buyers will have 50 percent of the total offer reserved, while retail investors have a 35 percent reservation. The remaining 15 percent will be reserved for non-institutional buyers
The initial public offering (IPO) of GR Infraprojects is going to open from 7 July (Wednesday). The GR Infraprojects IPO will close on 9 July (Friday).
A price band of Rs 828-837 per equity share has been fixed.
The company is going to offer 1,15,08,704 equity shares for subscription. The price band of GR Infraprojects IPO is 165.60-167.40 times the face value of the equity shares which is Rs 5.
GR Infraprojects plans to raise Rs 963 crore through this IPO. The road engineering, procurement and construction (EPC) company is based in Rajasthan.
According to a report in Moneycontrol, as many as 11,42,400 equity shares are going to be sold through an offer for sale (OFS) by the promoter of the company, Lokesh Builders.
A total of 1.27 lakh equity shares will be sold by Jasamrit Premises. Whereas, promoter Jasamrit Fashions will be selling 80,000 equity shares. While Jasamrit Creations is going to sell 56,000 equity shares, Jasamrit Construction will sell 44,000 equity shares.
Other investors who would be selling the shares are India Business Excellence Fund I (64,14,029 equity shares) and India Business Excellence Fund (31,59,149). Pradeep Kumar Agarwal, a shareholder in the company, is going to sell 4,86,126 equity shares through OFS.
According to a report in Economic Times, up to 2,25,000 equity shares will be reserved for the employees of the company. They will be getting a discount of 42 percent to the final price.
Qualified institutional buyers will have 50 percent of the total offer reserved for them while for retail investors, there is a 35 percent reservation. The remaining 15 percent portion will be reserved for non-institutional buyers.