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G R Infraprojects IPO Offers Strong Stock Market Listing with Over 100% Premium, Stock Open at ₹1700

Shares of G R Infraprojects, a contractor of the road sector, made a solid listing on the National Stock Exchange (NSE) and BSE at a premium of more than 100% from the Rs.828-837 price share. The stock opened at ₹1700. After the listing, the company's market capitalization was ₹15,950 crore, according to BSE data.
On July 19, At 10:28am, shares of G R Infraprojects were trading at ₹1,640.

The grey market premium for the stock indicated a premium of 60-70% premium over the issue price. The company was seeking to raise ₹962 crore through the public issue of shares.
During the three days of bidding, the Initial Public Offering (IPO) received a good response from investors considering that it was oversubscribed 102.58 times on the last day of bidding.
G R Infraprojects and IPO

Most analysts recommended subscribing to the  IPO on enormous opportunities in the infrastructure space and the company's strong order book and project execution track record. Between June 7 and June 9, the issue was open for subscription.

The Public release consists of ₹ 121 crores for promoters, ₹ 801 crores for Motilal Oswal's private equity arms, and ₹40 crores for other shareholders.

G R Infraprojects is an integrated highway EPC company - engineering, procurement, and construction which is specialized in the designing and construction of various highway projects across 15 states of India. Recently they are diversified in railway projects.

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