GR Infra IPO price band fixed at Rs 828-837 per share; IPO opens July 7

G R Infraprojects has priced its initial public offer (IPO) between Rs 828-837 per share. The IPO will begin on July 7 and close on July 9. Investors can bid for a lot of 17 equity shares and multiples of 17 after that. Anchor investors will be allotted shares on Tuesday.

The IPO is an offer for sale (OFS), and the company will not receive the proceeds of the offer. At the upper end of the price band, the IPO size works out to Rs 963 crore.

GR Infra is a road engineering, procurement and construction (EPC) company with experience designing and constructing various road and highway projects across 15 States in India.

Experts said IPOs from this space are not common and a good response to the issue could encourage other infra companies to tap the capital market.

The company's business operations include EPC services, development of roads, highways on a build operate transfer ("BOT") basis. And manufacturing activities include processing bitumen, manufacture of thermoplastic road-marking paint, electric poles and road signage.

HDFC Bank, ICICI Securities, Kotak Mahindra Capital, Motilal Oswal, SBI Capital Markets and Equirus Capital Private are the investment bankers handling the share sale.