Thursday, May 03, 2018

GR Infraprojects filed draft papers with SEBI worth 1800 Cr. IPO

GR Infraprojects Ltd has filed ipo draft papers with SEBI. The company is coming up with Rs.500 crore fresh issue and offer for sale of 1,12,25,343 equity shares. The ipo size will be around Rs.1800 crore. The equity shares of existing share holders and promoters will be offer for sale according to drhp.

The company seeks money for investment in subsidiaries, repayment of loans, general corporate purposes and capital equipment for EPC business purchase. They already filed DRHP before in September 2016 but then did not came up with the ipo.

The lead managers will be HDFC Bank, IDFC Bank, Motilal Oswal Co. Ltd Investment Advisor and Yes Securities (India) for the ipo.

They are one of the leading integrated road EPC company. They are doing designing and construction of roads and highway projects. They do have the projects in 14 states in India. They have vast experience in construction of state and national highways, flyovers, airport runways and bridges.