G R Infraprojects Limited IPO - Strengths, Purpose, Financial Performance and IPO details

Gaurav Seth
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Gaurav Seth


Incorporated in 1995, G R Infraprojects Limited is an integrated road emerging, procurement, and construction company. It has experience in the design and construction of various highway & road projects across 15 states in India. Recently, it has also diversified into the projects of the railway sector. Its principal business operations are broadly in 3 categories:

  1. Civil construction activities under which it provides EPC services
  2. Development of roads, highways on a Build Operate Transfer (BOT) which include Annuity and Hybrid Annuity Model (HAM)
  3. Manufacturing activities, under which it processes manufacture thermoplastic road-marking paint, electric poles, etc

As of 31st March 2021, G R Infraprojects has completed 100+ road construction projects and currently, 4 BOT projects are under construction.

It has fabricating and galvanization unit in Ahmedabad (Gujarat) and 3 manufacturing facilities in:

  1. Udaipur (Rajasthan)
  2. Guwahati (Assam)
  3. Sandila (Uttar Pradesh)

The promoters of the company are Mr. Vinod Kumar Agarwal, Mr. Ajendra Kumar Agarwal, Mr. Purshottam Agarwal, and Lokesh Builders Private Limited.

Strengths of the Company

  • Focused EPC player with a focus on road projects
  • In-house integrated model
  • Good track record of timely execution
  • Strong financial performance & credit rating
  • Experience promoters and management team

Purpose of the IPO

  • To achieve the listing benefit of equity shares on the stock exchanges.
  • The company will not receive any proceeds from the IPO as there is no fresh issue.
  • IPO is to carry out the offer for sale by the existing shareholders.

Financial Performance of the Company

 FY 2021FY 2020FY 2019
Total Revenue7,906.946,423.705,325.53
Profit After Tax953.22800.83532.55
Total Assets10,116.047,783.415,828.73

*All the values are in crores and as per DRHP.

Valuation of the Company

 For the nine-month period ended 31st December 2020FY 2020FY 2019FY 2018
Basic Earnings per Share (EPS)72.61^82.4373.6942.57
Diluted Earnings per Share (EPS)72.61^82.4373.6942.57
Return on Net Worth (%)18.85%^26.43%32.07%27.24%
Net Assets Value per Equity share385.18^311.86229.78156.24

^Numbers are not annualised

*As per DRHP. 

G R Infraprojects Limited IPO

IPO details

Face Value₹5 per equity share
Market Lot17 Shares
Minimum Order Quantity17 Shares
Price Band₹828- ₹837 per equity share
Issue typeBook Built Issue IPO
Issue Size₹963.28 Crores
Offer for Sale₹963.28 Crores
Listing NSE, BSE

Important IPO dates

Open Date07th July 2021
Close Date09th July 2021
Basis of Allotment Date14th July 2021
Initiation of Refunds15th July 2021
The credit of shares to Demat Account16th July 2021
Listing Date19th July 2021

Allocation Quota

Qualified Institutional Buyers (QIBs)Not more than 50%
Non- Institutional Buyers (NIIs)Not less than 15%
Retail InvestorsNot less than 35%

Check your G R Infraprojects Limited IPO allotment status here:

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