GR Infra commands 55% grey market premium: Here’s how to check allotment status

NEW DELHI: GR Infraprojects, whose Rs 963 crore IPO was sold from July 7 to July 9, will finalise its basis of allotment on Wednesday, July 14.

The initial public offer was subscribed 102.6 times. Out of the total 81,23,594 shares on offer, investors bid for 83,33,04,538 shares. Assuming these bids came at the upper price band of Rs 837, investors bet a total of Rs 69,747 crore on the issue.

In the grey market, the stock continues to receive premium valuation. The Udaipur-based GR Infraprojects is demanding a premium of Rs 455-460, meaning investors see listing gains of about 55 per cent.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select GR Infraprojects in the drop box

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot’ and hit submit.

You can also check the allotment status on the online portal of KFintech Private Limited ( https://ris.kfintech.com/ipostatus/), the registrar to the issue. The registrar is a Sebi-registered entity, qualified to act as such and electronically processes all applications, and carries out the allotment process as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading of refunds, and attending to all investor-related queries after the issue is completed. Here is the process:

1) Go to the web portal of KFintech Private Limited (link above). Click on any of the three mirror links

2) Select the IPO in the drop box, whose name will be populated only if the allotment is finalised

3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialisation of refunds on Thursday. Others, who would be allotted shares may see the credit of shares in the demat account by Friday.

The IPO is likely to get listed on July 19, Monday.

The company is an integrated road engineering, procurement and construction company with experience in design and construction of various road/highway projects across 15 States in India As of March 31, 2021, the company had an order book of Rs 19,025.81 crore and comprised 16 road projects, 10 Hybrid Annuity Model (HAM) projects and three other projects.