GR Infraprojects Ltd has filed its draft red herring prospectus (DRHP) with the markets regulator for initial public offering to raise between Rs 800 crore to Rs 1,000 crore.
The Udaipur-based integrated road engineering, procurement and construction (EPC) company has experience in design and construction of various road and highway projects across 15 states. It recently diversified into projects in the railway sector.
The issue will be a complete offer for sale of 1.15 crore equity shares of face value of Rs 5 each by promoter and investor selling shareholders. The offer includes an employee reservation portion as well.
The company will not receive any proceeds from the offer since it involves only the offer for sale. The equity shares offered are proposed to be listed on the BSE and NSE stock exchanges.
The portion reserved for qualified institutional buyers will be up to 50 per cent of the offer, non-institutional investors to have up to 15 per cent of the portion reserved while up to 35 per cent will be reserved for retail investors.
HDFC Bank, ICICI Securities, Kotak Mahindra Capital, Motilal Oswal Investment Advisors, SBI Capital Markets and Equirus Capital are book running lead managers to the issue. KFin Technologies is registrar to the offer.
In the last three fiscal years, GR Infraprojects' revenue from operations increased from Rs 3,295 crore in fiscal 2018 to Rs 6,373 crore in fiscal 2020 at a compound annual growth rate (CAGR) of 39 per cent.
The profit increased from Rs 413 crore to Rs 799 crore in the same period at a CAGR of 39 per cent. EBITDA has grown at a CAGR of 46 per cent from fiscal 2018 to fiscal 2020.
( With inputs from ANI )
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