PNN
Mumbai (Maharashtra) [India], January 6: B.R. Goyal Infrastructure Limited specializes in road construction and infrastructure projects as EPC contractors and construction service providers, proposes to open its Initial Public Offering on January 07, 2025. The company aims to raise Rs 85.21 crore through the fresh issue of 63,12,000 equity shares, which will be listed on the BSE SME platform.
The issue size is 63,12,000 equity shares at a face value of Rs 10 each with a price band of Rs 128 - Rs 135 Per Share.
Equity Share Allocation
* Employees - Up to 38,000 Equity Shares
* QIB Portion - Not More than 29,78,000 Equity Shares (Including Anchor Portion)
* Non-Institutional Investors - Not Less than 8,94,000 Equity Shares
* Retail Individual Investors - Not Less than 20,86,000 Equity Shares
* Market Maker - Up To 3,16,000 Equity Shares
The net proceeds from the IPO will be utilized for funding capital expenditure requirement, funding the working capital requirement, funding expenditure for inorganic growth through acquisitions & other strategic initiatives and general corporate purposes. The anchor bidding will open on January 06, 2025 and issue will close on January 09, 2025.
The Book Running Lead Manager to the Issue is Beeline Capital Advisors Private Limited, The Registrar to the Issue is Link Intime India Private Limited.
Brij Kishore Goyal, Chairman & Managing Director, of B.R. Goyal Infrastructure Limited expressed, "As we prepare for our IPO, we take great pride in reflecting on our journey and accomplishments. Our proven track record of successful execution across multiple states, coupled with our extensive equipment fleet, has been instrumental in building a strong reputation among our clients.
Managing working capital effectively has been one of the key challenges to our growth. The IPO funding will not only help us overcome this hurdle but also be strategically allocated towards capital expenditures, acquisitions, and other growth-oriented initiatives. These investments will enable us to embark on a transformative new phase of growth and expansion.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN.will not be responsible in any way for the content of the same)
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor