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GR Infraprojects IPO Subscribed Over 50 Times On Final Day Of Issue

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GR Infraprojects is selling shares in the price band of Rs 828 to 837 per share in the ongoing IPOGR Infraprojects shares were in really high need in the continuous share sale by means of going public (IPO) on final day of the issue.

GR Infraprojects IPO, which was oversubscribed within hours of opening on July 7, was subscribed 54 times by 2:45 pm on final day of the problem, data from National Stock Exchange showed.

GR Infraprojects received over 45 crore quotes for 81.23 lakh shares available.

An overall of 3.51 crore quotes were made at the cut-off price.GR Infraprojects shares remained in high demand amongst non-institutional financiers and qualified institutional buyers (QIBs) as the part scheduled for non-institutional financiers was subscribed 42 times and portion for QIBs was subscribed 38 times.Retail portion was also oversubscribed as the part reserved for them was subscribed 4.5 times.GR Infraprojects is offering shares in the rate band of Rs 828 to 837 per share in the continuous IPO which will close later on in the day.GR Infraprojects IPO is an offer-for-sale (OFS) of as much as 1.15 crore shares by the promoter and shareholders.The OFS includes sale of 11.42 lakh shares by Lokesh Builders, 1.27 lakh shares by Jasamrit Properties and 80,000 shares by Jasamrit Fashions.

As many as 2.25 lakh shares will be reserved for qualified employees.Retail financiers can look for a minimum one great deal of 17 shares and in multiples thereof, extending approximately 14 lots (238 shares).

Ahead of the IPO, GR Infraprojects raised Rs 283 crore from anchor investors, including Abu Dhabi Financial investment Authority, Smallcap World Fund Inc, The Master Trust Bank of Japan, BlackRock Global Funds and Fidelity.




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