GR Infra IPO Subscription Status: FINAL
GR Infra Projects Limited, incorporated in 1995, is an integrated road engineering, procurement, and construction (“EPC”) company with experience in the design and construction of various road/highway projects across 15 States in India and has recently diversified into projects in the railway sector.
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 50% | 168.58x |
| Non-Insti. (HNI) | 15% | 238.04x |
| Retail (RII) | 35% | 12.48x |
| Employee | – | 1.37x |
| Total Subscription | 100% | 102.53x |
GR Infra IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.49x | 2.78x | 168.58x |
| HNI | 2.68x | 6.31x | 238.04x |
| Retail | 3.25x | 7.49x | 12.48x |
| Employee | 0.24x | 0.75x | 1.37x |
| Total | 2.28x | 5.75x | 102.53x |
GR Infra IPO Subscription: Analyst Recommendations
LKP RESEARCH – SUBSCRIBE for longterm [ Report ]
“At the higher price band of Rs. 837, GR Infra is demanding a P/E multiple of 8.5x (to its FY21 earnings of Rs. 98.6 per share), which is a discount to the peer average. Thus the issue seems to be attractively priced. However, with concerns on the sustainability of the EPC profitability in the near term”
Hem Securities – SUBSCRIBE
“Also the company has a healthy order book which gives strong revenue visibility going forward. The company strives to maintain a robust financial position and low debt levels along with an emphasis on a strong balance sheet enable the company to pursue future opportunities for growth.“
Philip Capital – SUBSCRIBE
“Given the average trading multiple of 14x one-year forward PE, and peak multiple of 18-20x one-year PE, the stock provides significant rerating potential at the IPO’s asking valuations”
GR Infra IPO Subscription: Key IPO Details
| Type | Value |
|---|---|
| Issue Size | ₹963.28 Cr |
| Open Date | 07/07/2021 |
| Close Date | 09/07/2021 |
| Face Value | ₹5/- per Equity Share |
| IPO Price | ₹828 – ₹837 |
| Lot Size | 17 shares |
| Lots | Min 1 – Max 13 |
GR Infra IPO : Financials
| 2019 | 2020 | 2020 | |
|---|---|---|---|
| Revenue from Ops | ₹5282.6 Cr | ₹6372.7 Cr | ₹7844.1 Cr |
| Profit before Excep* | ₹1007.7 Cr | ₹1154.1 Cr | ₹1324.6 Cr |
| Profit after Tax | ₹716.64 Cr | ₹800.83 Cr | ₹953.22 Cr |
| EPS (Basic) | 73.91 | 82.51 | 98.31 |
| As of March 2020 | EPS (Avg*) | P/E (Floor) | P/E (Cap) |
|---|---|---|---|
| Based on basic EPS | 89.00 | 9.30 | 9.40 |
Comparison with listed industry peers
| Company | P/E (Cap) |
|---|---|
| GR Infra | 9.40 |
| Highest (IRB Infra) | 48.74 |
| Lowest (Sadbhav) | 1.65 |
| Sector Avg | 16.73 |
GR Infra IPO Subscription – FAQs
1. How to apply for GR Infra IPO in the Retail Category?
A: An investor in the retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for GR Infra in HNI Category?
A: An investor can apply in the HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospectus (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP
