GR Infraprojects subscribed 5.75 times on Day 2

NEW DELHI: The initial public offer (IPO) of GR Infraprojects was subscribed nearly six times on the second day of bidding on Thursday. Most applications for shares came from retail investors.

At 5:00 pm, out of the total 81,23,594 shares on offer, investors bid for 4,67,44,067 shares.

The promoters and shareholders of the company look to raise Rs 963 crore from primary markets. The book building issue is expected to sail NSE 0.77 % through successfully as most analysts have ‘subscribe’ rating on it as they believe shares are being offered at a comparatively cheaper valuations.