GR Infraprojects IPO will be launched on July 7, know these special things before investing, will be in profit

Another company in the infra sector is about to hit a tremendous entry in the stock market. Infrastructure company GR Infraprojects Ltd (GRIL) will launch its IPO on July 7 and this IPO will be open for subscription till July 9. The company is likely to be listed on BSE and NSE on July 19.

GRIL will issue 1.15 crore equity shares of face value of Rs 5 through Offer for Sale (OFS) in this IPO. These shares will be issued by the promoters and existing investors of the company. The company will not issue any fresh shares for this public issue. Due to the absence of a fresh share issue, the company will not get any part of the funds raised through this IPO.

Lokesh Builders Private Limited, the promoter of GR Infraprojects, will issue 11.42 lakh shares for this IPO. This will reduce the stake of Lokesh Builders in the company by 33%. Apart from this, promoter group Jasamrit Premises, Jasamrit Fashions etc. will sell a total of 3.07 lakh shares.

India Business Excellence Fund and India Business Excellence Fund 1 will exit from GRIL through this IPO. That is, both these funds will sell their entire stake in 95.73 lakh shares in this IPO. Apart from these, the company’s investor Pradap Agarwal will also sell some of his 5 lakh equity shares.

GR Infraprojects has appointed HDFC Bank, ICICI Securities, Kotak Mahindra Bank and Motilal Oswal as investment advisors for this IPO. At the same time, SBI Capital Markets and Enquires Capital are the book lead running managers. Whereas the registrar of this public issue is KFin Technologies.

In this IPO, 2.25 lakh shares are reserved for the employees of the company. GRIL’s peer companies that have been listed on the stock market include KNR Constructions, PNC Infratech, HG Infra Engineering, Dilip Buildcon, Ashoka Buildcon, IRB Infrastructure Developers and Sadbhav Engineering.

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