GR Infraprojects Has A Blockbuster Listing, Shares Double At Debut
GR Infraprojects shares made a blockbusteR debut on the bourses. The shares started the day at Rs 1,700, a premium of Rs 863 or 103 per cent, compared to the issue price of Rs 837 on the BSE. At 10:40 am, GR Infraprojects shares were trading at Rs 1,677.75, higher by Rs 847.55 or 100.82 per cent on the BSE and on the NSE, the shares were trading at Rs 1,679.05, up Rs 842.10 or 100.62 per cent.
GR Infraprojects’ Rs 963 crore initial public offering (IPO) was entirely an offer-for-sale (OFS) of up to 1.15 crore shares by the promoter and shareholders, and there was no fresh ssue of shares.
GR Infraprojects’ initial public offering (IPO) had witnessed a strong response, with the issue being subscribed a whopping 102.58 times. The IPO had received over 83.33 crore bids for 81.23 lakh shares on offer. The portion reserved for qualified institutional buyers (QIBs) was subscribed 93.18 times, non-institutional investors segment was subscribed 73 times and individual retail investors cvategory was subscribed 4.89 times.
GR Infraprojects is in the business of civil construction, manufacturing, and development of roads and highways on a build-operate-transfer (BOT) basis.
Meanwhile, Clean Science and Technology IPO also made a strong debut on the bourses, listing at a premium of 98 per cent on the BSE.