The initial public offers (IPO) of GR Infra Projects and Clean Science, which closed on Friday, received an enthusiastic response from investors. Both the IPOs generated bids worth more than Rs 1.73 trillion—an encouraging sign ahead of Zomato’s mega offering next week.
The IPO of GR Infraprojects, a road construction company, was subscribed 102.6 times. Its qualified institutional buyer (QIB) portion subscribed 168.6 times, the high networth individual (HNI) portion was subscribed 238 times, and the retail portion was 12.6 times. The issue saw over 2.3 million retail applications.
GR Infra’s Rs 962 crore IPO was entirely a secondary share sale. The price band for the IPO is Rs 828 to Rs 837 per share. At the top-end the company will have a market cap of Rs 8,093 crore.
