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Roads EPC firm GR Infraprojects raises Rs.283-Cr from anchor investors

MoneyControl  

Road sector contractor GR Infraprojects has raised INR 283.33 crore from 47 anchor investors ahead of IPO opening. Under the anchor investors portion, 33,85,110 equity shares have been subscribed at INR 837 each, at the higher end of the price band. Smallcap World Fund Inc, Abu Dhabi Investment Authority, BlackRock Global Funds, The Master Trust Bank of Japan, and Fidelity among global investors participated in the anchor book offer. Domestic anchor investors included HDFC Trustee, Aditya Birla Sun Life, UTI MF, Axis MF, Kotak MF, HDFC Life Insurance, Sundaram MF and Motilal Oswal MF. The road engineering, procurement and construction (EPC) company is planning to raise INR 962 crore through public issue at a price band of INR 828-837 per equity share. The public issue is a complete offer for sale of up to 1,15,08,704 equity shares, including an employee reservation portion, by existing shareholders. GR Infraprojects is an EPC company with experience in design and construction of various road and highway projects across 15 states in India and having recently diversified into projects in the railway sector.