NN360.PNG

G R Infraprojects Limited’s IPO to Open on Wednesday

News Desk, News Nation 360 : G R Infraprojects Limited (“GRIL” or “Company”), an integrated road engineering, procurement and construction (“EPC”) company with experience in design and construction of various road/highway projects across 15 states in India and has recently diversified into projects in the railway sector, is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, July 07, 2021, and close on Friday, July 09, 2021. The price band for the Offer has been determined at Rs. 828 – Rs. 837 per Equity Share. The Company and the Investor Selling Shareholders have, in consultation with the book running lead managers to the Offer (the “BRLMs”), consider participation by Anchor Investors, whose participation shall be one Working Day prior to the bid/offer opening Date, i.e. Tuesday, July 06, 2021. The Offer is being made in terms of Rule 19(2)(b) of the

Mr. Vinod Kumar Agarwal, Chairman, GR Infraprojects Limited.jpg

Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made in accordance with Regulation 6(1) of the SEBI ICDR Regulations, through the Book Building Process wherein not more than 50% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders. The Offer will be a complete offer for sale of up to 1,15,08,704 Equity Shares (“Offer for Sale”). The Offer includes an employee reservation portion as well. The Offer for Sale comprises of up to 11,42,400 Equity Shares by Lokesh Builders Private Limited, up to 127,000 Equity Shares by Jasamrit Premises Private Limited, up to 80,000 Equity Shares by Jasamrit Fashions Private Limited, up to 56,000 Equity Shares by Jasamrit Creations Private Limited, up to 44,000 Equity Shares by Jasamrit Construction Private Limited, up to 64,14,029 Equity Shares by India Business Excellence Fund 1 and up to 31,59,149 Equity Shares by India Business Excellence Fund, and up to 486,126 Equity Shares by Pradeep Kumar Agarwal. The Offer being only an Offer for Sale, Company will not receive any proceeds from the Offer.

Pic : Courtesy

Report : Anustup Kundu