GR Infraprojects Limited IPO
Incorporated in the year 1995, GR Infraprojects is coming up with an IPO amounting to Rs 963.28 crore. The offer is entirely an offer for sale and there is no fresh issue. The offer opens on 7th July. Offer details follow:
What are the offer details of GR Infraprojects IPO?
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| Offer Details | |
| Offer Size | Rs 963.28 crore |
| of which | |
| Fresh Issue | None |
| Offer for sale | 1,15,08,704 equity shares amounting to Rs 963.28 crore |
| Employee reservation portion | 2,25,000 equity shares |
| Price Band | Rs 828- Rs 837 per share |
| Offer Period | July 7-July 9 2021 |
| Offer Structure | QIBs: upto 50% of the offer NIIs: upto 15% of the offer RIIs : upto 35% of the offer |
| Market Lot | Minimum 17 shares (Rs 14229) Maximum 238 shares(14 lots), Rs 1,99,206 |
| Listing on | BSE, NSE |
| BRLM’s | HDFC Bank, ICICI Securities, Kotak Investment Banking, Motilal Oswal, SBI Capital Markets, Equirus |
| Registrar | Kfintech |
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Business Profile of GR Infraprojects
The company is engaged in integrated road engineering, procurement, and construction (“EPC”) projects in the road sector. The road sector includes the construction and development of state and national highways, bridges, culverts, flyovers, airport runways, tunnels, and rail over-bridges across 15 States in India. The Issuer has recently diversified into projects in the railway sector. clients including the National Highways Authority of India, Ministry of Road Transport and Highways, Public Works Department, Government of Rajasthan, and Rajasthan State Road Development Corporation.
The principal business operations are broadly divided into three categories:
- Engineering, Procurement and construction activities
- Build Operate Transfer projects- development of roads, highways on a BOT basis which includes annuity and Hybrid Annuity Model (HAM)
- Manufacturing activities manufacture thermoplastic road-marking paint, electric poles, and road signage and fabricate and galvanize metal crash barriers.
The Issuer also undertakes repair and maintenance of projects in accordance with the contractual arrangements. For BOT projects, in addition to the construction and development of the project, the company is required to operate and manage the project during the concession period.
GR Infra also forms project-specific joint ventures and consortiums with other infrastructure and construction companies.
GR Infra has executed over 100 road construction projects. As of the date of the RHP the company has one operational road project which has been constructed and developed on a BOT (annuity) basis. 14 road projects have been awarded under the HAM, out of which five projects are currently operational, four projects are under construction and construction is yet to commence on five of these projects. As of March 31, 2021, the company had an Order Book of Rs 19025 crore.
The Issuer has an in-house integrated model, under which it has developed inhouse resources with key competencies to deliver a project from conceptualization to completion that includes design and engineering team, three manufacturing units at Udaipur, Rajasthan, Guwahati, Assam, and Sandila, Uttar Pradesh for processing bitumen, thermoplastic road-marking paint and road signage and a fabrication and galvanization unit at Ahmedabad, Gujarat for manufacturing metal crash barriers and electric poles. In addition; the equipment base comprised over 7,000 construction equipment and vehicles as of March 31, 2021.
An in-house integrated model reduces dependence on third-party suppliers for key raw materials, construction equipment, and other products and services required in the development and construction of our projects.
GR Infra RHP:
https://www.sebi.gov.in/filings/public-issues/jun-2021/g-r-infraprojects-limited_50742.html
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