GR Infraprojects makes stellar debut, lists at 103% premium

GR Infraprojects made a stellar debut on the bourses as the market value of its equity shares more-than-doubled or rose 103 per cent to list at Rs 1,700 on the BSE in Monday’s session against its issue price of Rs 837 per share.

At 10:01 am, the stock was trading at Rs 1,636 after hitting a high of Rs 1,725 post its listing. Around 167,000 equity shares had changed hands on the counter, the exchange data shows.

Rajasthan-based roads and highways construction major raised Rs 963 crore via initial public offer (IPO). The issue witnessed healthy demand from investors as it received 102.58 times bids. The portion set aside for qualified institutional buyers was subscribed 168.58 times and that of non-institutional investors 238.04 times.