G R Infraprojects Limited

LISTED

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Issue Price

₹828 – ₹837

Listed On

19 Jul 2021

Listing Price

₹1,700 (+103.11%)

Current Price LIVE

₹1,700 (+103.11%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	17	₹14,229
Retail (Max)	14	238	₹1,99,206
S-HNI (Min)	15	255	₹2,13,435
S-HNI (Max)	70	1,190	₹9,96,030
B-HNI (Min)	71	1,207	₹10,10,259

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹837/sh

As per financials, company has shown good growth, RoNW is 26.15% for last three fiscals and issue is priced at P/E of around 8 as per FY21 earnings. In current pandemic situation, infrastructure related companies were badly affected due to lock-down, but in such tough time company has maintained growth. Also GoI again back in track for infrastructure related development projects and GoI will spend big in next 3-5 years for different infra projects. Performance of BRLM is good. So, we are giving SUBSCRIBE rating to this IPO.

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As on Date	QIB	NII	RII	Employee	Total
Shares Offered / Reserved	22,56,741	16,92,556	39,49,297	2,25,000	81,23,594
Day 1 07-07-21	11,01,753 (0.49)	45,38,626 (2.68)	1,28,25,786 (3.25)	54,893 (0.24)	1,85,21,058 (2.28)
Day 2 08-07-21	62,96,307(2.79)	1,06,80,028(6.31)	2,96,19,727(7.50)	1,68,750(0.75)	9,84,57,959(12.12)
Day 3 09-07-21	38,04,37,067 (168.58)	40,29,03,842 (238.04)	4,96,56,184 (12.57)	3,07,445 (1.37)	83,33,04,538 (102.58)

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
G R Infraprojects Limited Current	2.03	8.51	23.95%	7,906.94
KNR Constructions Limited	3.31	25.33	13.07%	2,955.25
PNC Infratech Limied	2.17	17.43	12.44%	5,898.89
H G Infra Engineering Limited	2.45	12	20.44%	2,617.10
Dilip Buildcoin Limited	2.06	25.28	8.15%	10,210.49
Ashoka Buildcoin Limited	0.99	7.28	13.59%	5,121.87
IRB Infrastructure Developers Limited	1.94	29.38	6.60%	5,487.52
Sadbhav Engineering Limited	0.77	798.41	0.10%	3,862.15

Incorporated in December 1995, G R Infraprojects is an integrated road engineering, procurement, and construction company with experience in designing and construction activities and road/highway projects across 15 states and having recently diversified into projects in the railway sector. Till April 2021, it has completed 100+ road construction projects successfully, and currently, 4 BOT projects are under construction. The company owns 3 manufacturing facilities at Udaipur (Rajasthan), Guwahati (Assam), and Sandila (Uttar Pradesh) and has a fabricating and galvanisation unit at Ahmedabad, Gujarat. The company also have experience in constructing state and national highways, bridges, culverts, flyovers, airport-runways, tunnels and rail over-bridges. Company's principal business of civil construction comprises EPC and BOT projects in the road sector. The company have, since 2006, executed over 100 road construction projects. As of now, out of company's BOT projects, company have one operational road project which has been constructed and developed the company on a BOT (annuity) basis and 14 road projects which have been awarded to company under the HAM. As per financial performance, G R INFRA has posted total income/net profits of Rs. 3,335.60 cr. / Rs. 417.65 cr. (FY18), Rs. 5,323.11 cr. / Rs. 715.41 cr. (FY19) and Rs. 6,421.06 Cr. / Rs. 797.47 Cr. (FY20). For FY21, it has reported net profit of Rs. 953.63 cr. on total revenue of Rs. 7906.94 cr. So company has posted consistent high growth over last couple of years. Company has posted an average EPS of Rs. 89 and average RoNW of 26.15% for last three fiscals. Issue is priced at a P/BV of 2.03 as per NAV of 411.63/- on 31.03.21. As per FY21 earnings, P/E is around 8.5. So issue looks reasonably priced. As per RHP, comparison between the listed peers are shown in above table. On BRLM's front, six BRLMs are associated with this IPO, and have handled around 48 IPO in last three fiscals. From last 10 IPOs, 3 are opened below issue price and remaining are opened above issue on the day of listing. As of now, 1 is trading below price and remaining are trading above issue price. ( As on 01.07.21) As per financials, company has shown good growth, RoNW is 26.15% for last three fiscals and issue is priced at P/E of around 8 as per FY21 earnings. In current pandemic situation, infrastructure related companies were badly affected due to lock-down, but in such tough time company has maintained growth. Also GoI again back in track for infrastructure related development projects and GoI will spend big in next 3-5 years for different infra projects. Performance of BRLM is good. So, we are giving SUBSCRIBE rating to this IPO.

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

50 Comments

J
jass 26 Nov 2021, 23:25

k
R
Ravi Mori 15 Sep 2021, 00:44

apne ko to nai bharna ye ipo. muje to ab suryoday small finance ka 10000 share uthana hai. 2 month mai 320% profit hone wala hai. kyu ki gira to bhi sab ne sale kiya aur price bada to bhi sale kiya sab ne. par ye nai dekha ke jisne bacha uska aur jisne kharida usme kitna profit hone wala hai. kisiko nai pata hoga ke ipo se loss hoke 2 din mai kitna return ho raha hai. i mean check kar sakte ho UC....
S
Satyasankalp 22 Jul 2021, 23:50

k
M
Mohit Dalmia 22 Jul 2021, 22:32

ki 110sale kre ya 120kl ka only
M
Mohit Dalmia 22 Jul 2021, 22:32

kisko jada pta.h rply.de fast
M
Mohit Dalmia 22 Jul 2021, 22:32

baba zometo kya rate sal kre fir btao
J
jayesh 22 Jul 2021, 17:58

Semi conductor shortages which are very very highly uses for automobiles sector and EV (Electrical Vehicles) sector and many more)
S
Satyasankalp 21 Jul 2021, 22:45

k
J
jayesh 21 Jul 2021, 19:11

=%Mindtec serves industries like Healthcare, Life sciences, Medical devices, Manufacturing, Industrial automation, Semi conductor, storage and energy and many more =%Mindteck does all 5G internet services and wireless and lo T (internet of things) and 5G enabled connected devices and internet and IT security so tremendous growth potential stock so buy
I
IPO Guru 21 Jul 2021, 07:50

@all, if view is for at least 3-5 years, then it's good company to hold.
S
Satyasankalp 20 Jul 2021, 18:57

pls pls pls rply...
S
Satyasankalp 20 Jul 2021, 18:57

ha sahi kahe rahe h TEJAS bhai Hold ya sale kare...? ...pls suggest GURI
T
Tejas 20 Jul 2021, 17:54

please guide
T
Tejas 20 Jul 2021, 17:54

guru ji GR Infra hold or sale ??
S
Satyasankalp 20 Jul 2021, 10:59

ok
B
Baba 20 Jul 2021, 09:36

jisko rkhna h wo rkhe 5-10 saal tak.... bina darre..... tab i can gureente 4-5k values by 2030......lakin itna long time hold krne ka retail investor ka jiger nhi hota
B
Baba 20 Jul 2021, 09:34

@singhi share market m more than 10k share h..... share market bhi thik honi chaiye naa....QUARTER figures aane wale h.... market boom boom chl rhi h bina kisi foundation k.....jab fall hogi naa tab strong foundation stock bhi weak ho jate h....
S
Singhi 20 Jul 2021, 08:59

don't manipulate
S
Singhi 20 Jul 2021, 08:58

@baba everything positive in this stock.. wats your base of information
S
Satyasankalp 20 Jul 2021, 00:42

BABA ji to abhi hum Hold kare to koi problem nahi h na...
S
Satyasankalp 20 Jul 2021, 00:41

thanks
B
Baba 19 Jul 2021, 23:01

@singhi.... no rumour... mujhe 2 lot lage the.... sell @1767......i have full information of share market..... maybe i am wrong in assessing gr infra..... maybe it reach 5000 in near future..... its share market bro.... kuch bhi ho skta h.... mera assessment jo h wo mne bta diya..... ab tum apna dimag lgao.... dusro k khne p share market m jyda durrr tak nhi chl paoge
P
piyush 19 Jul 2021, 22:52

sell@1750
D
deep 19 Jul 2021, 22:48

use allot nhi hua, haha, so market gira raha, hahaha
S
Singhi 19 Jul 2021, 21:32

@baba... don't spread rumours and negative news.. if u dont have complete inf
S
Satyasankalp 19 Jul 2021, 20:59

thanks
H
hiren 19 Jul 2021, 14:41

k.thnxxx guruji...
I
IPO Guru 19 Jul 2021, 14:40

@all, GR INFRA is good for long term.
S
Satyasankalp 19 Jul 2021, 14:30

ha bhai koi to batao...
D
Deepak Pambhar 19 Jul 2021, 13:54

exit ho jaye ya hold kare?
S
Satyasankalp 19 Jul 2021, 13:51

Long term k liye kesa rahega GURUJI
R
Rakesh Goyal 19 Jul 2021, 13:27

done, sold thx
S
Satyasankalp 19 Jul 2021, 11:09

ok
I
IPO Guru 19 Jul 2021, 11:00

@Rakesh, for that you need to consult your broker.
K
Kalpesh hada 19 Jul 2021, 10:24

I sell gr 34 qty 28k profit
R
Rakesh Goyal 19 Jul 2021, 10:20

not able to sell, what is reason
B
Baba 19 Jul 2021, 10:15

bech do bhaiyo.... market ager kal bhi down gya to.... GR JYGA SIDHA 1200-1300 P
S
Shivam 19 Jul 2021, 09:58

aim for 1900-2000 in 2-3 days agar upper circuit laga toh
I
Irfan Mandhra 19 Jul 2021, 09:57

1715 iam sell allredy
S
sumitkanzariya 19 Jul 2021, 09:56

Kaha tak Jayega
S
Shivam 19 Jul 2021, 09:53

sellers*
S
Shivam 19 Jul 2021, 09:53

upper circuit jyega?
S
Shivam 19 Jul 2021, 09:53

no buyers in gr
I
IPO Guru 19 Jul 2021, 09:50

@all, as per current trend, GR INFRA expected list above 1700/- and one may book partial profit there.
R
Rishi Narang 19 Jul 2021, 09:50

1715
G
Goswami Sarthik 19 Jul 2021, 09:43

ok
H
HARDIK PATEL 19 Jul 2021, 09:43

sell
G
Goswami Sarthik 19 Jul 2021, 09:43

??
J
jayu 19 Jul 2021, 09:43

please tell me Its Hold or sell ??
G
Goswami Sarthik 19 Jul 2021, 09:29

lisling gain

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY21	7,906.94	6,582.30	953.63
FY20	6,421.06	4,182.16	797.47
FY19	5,325.53	2,824.86	715.41
FY18	3,335.60	2,824.86	417.65

Open Date	Jul 07, 2021
Close Date	Jul 09, 2021
Allotment Date	Jul 15, 2021
Listing Date	Jul 19, 2021
Face Value	₹ 5 Per Equity Share
Issue Price	₹ 828 to ₹ 837 Per Equity Share
Retail Min Lot	1 Lot (17 Shares - ₹ 14,229)
Promoter Shareholding	88.04% (Pre-Issue) 86.54% (Post-Issue)
Registrar	KFin Technologies Private Limited
Lead Manager	Equirus Capital Private Limited, HDFC Bank Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, Motilal Oswal Investment Advisors Limited, SBI Capital Markets Limited

G R Infraprojects Limited

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