G R Infraprojects IPO
G R Infraprojects Limited (GRINFRA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 19 July 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +39.6% (likely range +33% to +100%), day's high +48.8%, chance of a gain 97%. Actual: +105.0% at the open, +119.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 22,56,741 | 38,04,37,067 | 169x | |
| NII (HNI) total | 16,92,556 | 40,29,03,842 | 238x | |
| Retail | 39,49,297 | 4,96,56,184 | 12.6x | |
| Employees | 2,25,000 | 3,07,445 | 1.37x | |
| Total | 81,23,594 | 83,33,04,538 | 103x |
Bids on NSE and BSE together, as published by NSE, as of 09 Jul 2021, 05:00 PM. Shares offered exclude the anchor portion. 5% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to G R Infraprojects's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Indigo PaintsJan 2021 | 190x | 263x | 15.9x | 117x | ₹1,170 Cr | +75.0% | +110.0% |
| Godrej AgrovetOct 2017 | 151x | 236x | 7.67x | 95.4x | ₹1,180 Cr | +33.8% | +37.0% |
| Laxmi Organic IndustriesMar 2021 | 175x | 218x | 20.1x | 107x | ₹605 Cr | +19.6% | +34.3% |
| Dixon Technologies (India)Sep 2017 | 135x | 346x | 10.6x | 118x | ₹600 Cr | +54.3% | +71.2% |
| Avenue SupermartsMar 2017 | 145x | 278x | 7.51x | 105x | ₹1,895 Cr | +100.7% | +117.0% |
| Indian Railway Catering and Tourism CorporationOct 2019 | 109x | 355x | 14.9x | 112x | ₹1,125 Cr | +95.6% | +132.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| HDFC Bank | 16 | +15.8% | 75% |
| ICICI Securities | 109 | +21.3% | 69% |
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| SBI Capital Markets | 56 | +16.7% | 61% |
| Equirus Capital | 34 | +21.3% | 74% |
Offer documents (NSE)
Frequently asked
What is the G R Infraprojects IPO price band and lot size? ₹828–837 per share, with a lot of 17 shares, so the smallest retail bid is ₹14,229.
How many times has it been subscribed? 103x overall: QIB 169x, NII 238x, retail 12.6x, employees 1.37x.
How did it list? It opened at ₹1,716, +105.0% against the issue price of ₹837, and closed its first day +108.7%.
