GR Infraprojects Ltd, a leading integrated road engineering, procurement and construction ("EPC") company with experience in design and construction of various road/highway projects across 15 States in India and having recently diversified into projects in the railway sector, has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator for IPO.
As per market sources the IPO size will be approximately between Rs. 800 to Rs. 1,000 crores.
The issue will be a complete Offer for Sale (OFS) of 1,15,08,704 Equity Shares of face value of Rs. 5 each by Promoter and Investor Selling Shareholders. The offer includes an employee reservation portion as well.
Details of OFS are "Promoter Selling Shareholders" 11,42,400 Eq. shares Lokesh Builders Pvt. Ltd, 127,000 Eq. Shares Jasamrit Premises, 80,000 Eq Shares Jasamrit Fashions Pvt Ltd, 56,000 Eq. Shares Jasamrit Creations Pvt. Ltd, 44,000 Eq. Shares Jasamrit Construction Pvt. Ltd.
"Investor Selling Shareholders" 64,14,029 Eq. Shares India Business Excellence Fund 1,31,59,149 Equity Shares India Business Excellence Fund, 486,126 Eq. Shares Pradeep Kumar Agarwal.
The Company will not receive any proceeds from the Offer since it involves only the Offer for Sale.
The portion reserved for Qualified Institutional Buyers will be upto 50% of the offer, Non-Institutional Investors to have upto 15% of the portion reserved while upto 35% will be reserved for the Retail Investors. The Equity Shares offered are proposed to be listed on the BSE & NSE Stock Exchanges.
HDFC Bank Ltd, ICICI Securities Ltd, Kotak Mahindra Capital Company Ltd, Motilal Oswal Investment Advisors Ltd, SBI Capital Markets Ltd, Equirus Capital Pvt. Ltd are the Book Running Lead Managers to the issue. KFin Technologies Private Ltd is the registrar to the offer.