The Initial Public Offering (IPO) of BR Goyal Infrastructure Limited received a strong response from investors, closing successfully on January 9, 2025. Here are the important details about this much-anticipated IPO.
The Grey Market Premium for BR Goyal Infrastructure shares is ₹60, reflecting high demand. This suggests a potential listing premium of approximately 44%.
IPO Timeline
- Opening Date: January 7, 2025
- Closing Date: January 9, 2025
Price Band
The price range for the shares was set between ₹128 and ₹135 per share, making it accessible for a range of investors.
Fundraising and Share Details
The company aims to raise ₹85.21 crore by issuing 63.12 lakh shares.
Lot Size and Investment
Investors could apply in lots of 1,000 shares. This ensured affordability for retail investors with a smaller budget.
The IPO had separate reservations for different investor categories:
- Retail Investors: 33% of the total shares.
- Non-Institutional Investors (NIIs): 14% of the issue.
- Qualified Institutional Buyers (QIBs): 19% of the shares.
Subscription Overview
The IPO was oversubscribed by 21.48 times, showcasing strong interest from all categories of investors:
- Retail Investors: 29.03 times.
- NIIs: 28.01 times.
- QIBs: 4.05 times.
- Employees: 0.79 times.
Allotment and Listing Schedule
- Share Allotment Finalization: January 10, 2025.
- Demat Account Credit: January 13, 2025.
- Refunds for Unsuccessful Bids: January 13, 2025.
- Listing on BSE SME Platform: January 14, 2025.
BR Goyal Infrastructure Limited specializes in constructing roads, bridges, and civil infrastructure. The company has a proven track record of delivering successful projects across India, establishing itself as a reliable name in the construction sector.
This IPO has attracted significant attention due to its pricing, high subscription rates, and positive Grey Market Premium. The funds raised will support the company’s growth plans, including expansion and operational requirements. Remember, conducting your own research before investing in any IPO is essential to ensure that it aligns with your financial goals and risk tolerance.
