The IPO share allotment of road sector contractor GR Infraprojects is likely to get finalised this week.
The Rs 963-crore public offer closed last week after being subscribed 102.58 times during July 7-9, 2021. The reserved portion of qualified institutional buyers was subscribed 168.58 times and that of non-institutional investors 238.04 times.
The portion set aside for retail investors was subscribed 12.57 times and that of employees 1.37 times.
The IPO witnessed sixth highest subscription in the current year 2021 after MTAR Technologies, Nazara Technologies, Shyam Metalics and Energy, Indigo Paints, Laxmi Organics.
It was a complete offer for sale by existing selling shareholders, so all the money will go to selling shareholders.
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GR Infraprojects is expected to finalise the IPO share allotment on July 14. Investors can check their IPO share allotment through two available options.
One is IPO registrar. In the IPO field, select GR Infraprojects. In the query by field, select either Application No, Application Type (ASBA/NON ASBA), & enter Application Number, OR select DPID/Client ID, Depository (NSDL/CDSL), enter DPID & client ID, OR select and enter PAN Number. Finally enter Captcha and click on Submit button to know the application status.
Second is BSE website. In the issue type field select equity and in the dropdown menu choose issue name 'GR Infraprojects Limited'. Enter Application number and PAN number. Finally click on Search button to know the allotment status.
Once the finalisation of allotment is complete, funds will be refunded to ineligible investors on July 15, and equity shares will get credited to demat accounts of eligible investors on July 16.
Finally the trading in shares will commence with effect from July 19.
GR Infraprojects shares are available for trading at a premium of Rs 440, i.e. 52.6 percent higher over expected final issue price of Rs 837 per share, as per the IPO Watch and IPO Central data showed.
GRIL is an integrated road engineering, procurement and construction (EPC) company. The company has 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.