G R Infraprojects IPO

G R Infraprojects Limited (GRIL) is a major infrastructure corporation based in the India.  Rajasthan, Gujarat, Madhya Pradesh, Haryana, Uttar Pradesh, Bihar, Himachal Pradesh, and Jharkhand are among the states where they operate. G R Infraprojects IPO will hit the market in 07th July 2021.

Services

Roads, Flyovers, Bridges, Tower blocks, Air Field Developments, Irrigation, Massive Highways, Road Upgradations, Geometrical Improvements, Implementation of (B.O.T.) Ventures, Assets Protection, Maintenance, and so on are among the EPC services they provide.

Since 1964, it has been operating in the sector of infrastructure growth in India. Their professional performance is reflected in their standards of quality, construction methods, and development planning strategies.

We’ve progressed to become a world-class construction company. They always keep responsibilities in their mind for their employers and societies around the country.

Projects

While they complete the bulk of their projects on their own, they do create project-specific joint ventures and cooperations with other infrastructure and construction firms.

They join hands or conglomerates with other infrastructure and construction firms when a work needs them or their conglomerate partners to fulfill unique enrollment specifications in regards to specified ventures, including requirements linked to unique kinds of knowledge and financial resources.

History

Their company was formed on December 22, 1995 as ‘G. R. Agarwal Builders and Developers Limited’ under the Companies Act, 1956 as a public limited firm.

On January 3, 1996, the RoC Rajasthan granted a certificate of commencement of operations, and in the same year, their Organization purchased the corporation of M/s Gumani Ram Agarwal, a partnership organization.

Their Company ‘s name was revised to ‘G R Infraprojects Limited’ by a resolution passed by their Shareholders on August 24, 2007, because our management believed that the new name represented our Organization’s operations in broader terms.

Financials Trends

Basic and Diluted Earnings Per Share (EPS)

Issue

G R Infraprojects, headquartered in Ahmedabad has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 1.15 crore equity shares on 13 April,  2021.

The Offer does’t includes fresh equity  and an offer for sale(OFS) up to 1.15 crore equity shares of face value of 5 per share, by the promoters.

They got approval from Securities and Exchange Board of India(SEBI) on 22 June, 2021 to float the initial public offering (IPO) in the market.

Prior to the Initial public offering, the promoter and promoter party owns 88.04 percent of the venture, with the remaining shares held by other investors.

Previous IPO plans

This isn’t the first time GRIL has approached SEBI about a public offering. The firm had filed papers for an IPO estimated Rs 1,800 crore in starting of 2018.

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

Basis of The offer

• EPC player with a specialty on road projects;
• A track record of completing projects on schedule;
• Integrated model developed in-house;
• A good credit rating and financial success;
• Promoters with deep knowledge and a skilled management team.

IPO Details

IPO Tentative Date

The G R Infraprojects IPO open on 7 July 2021, and the close on 09th July 2021. The issue may list on 19 July 2021.

Basis of Allotment

G R Infraprojects IPO Allotment Status

Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.

Here, you can find the Allotment Status of GR Infraprojects IPO.

G R Infraprojects IPO GMP (GR Infra IPO GMP)

GR Infraprojects IPO Grey market premium is as follows and you can check GMP of other IPOs as well from links given below:

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G R Infraprojects IPO Review?

Most of the news & articles are suggesting a bumper listing for this IPO. However, It’s best to apply for listing gain & for long term you can reenter after few days for listing.

GR Infra IPO Risk

These are some major Risks:

• A negative impact on their capacity to enter into new strategic deals or to complete pending strategic transactions on the agreed-upon terms and timetables, if at all;
• Capabilities of state governments to control the pandemic’s spread, therefore permitting economic activity and, as a result, allowing them to continue with the building of their ongoing projects;
• Due to the authority’s incompetence or delay in independently verifying the completion of works, either through independent engineers or otherwise, they have been unable to charge their clients on a timely manner.
• Their capacity to carry out construction work on a comparable scale as before, including during lock downs and other time-sensitive situations.

Other threats

• Failure to satisfy their financing arrangements’ commitments, terms, and restrictions might affect their ability to run their business and activities, as well as initiate and complete the Offer.
• Their civil construction division generates the bulk of their income, and their financial position would be substantially and adversely impacted if we were unable to acquire new contracts or if their present contracts were cancelled.
• Their company is currently reliant on road projects in India, which are conducted or granted by authorities and other organisations sponsored by the Government of India or state governments, and thus receive the majority of their revenue from contracts with a small number of government bodies.

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G R Infra IPO Peer Comparison

Promoters

• Vinod Kumar Agarwal
• Ajendra Kumar Agarwal
• Purshottam Agarwal
• Lokesh Builders Private Limited

Promoter Holding