The initial public offering of B.R.Goyal Infrastructure Ltd. opened for subscription on Jan. 7 and was fully subscribed on Day 1.

The BSE SME issue is a book-built offer consisting entirely of fresh issuance of 63.12 lakh worth Rs 85.21 crore. Potential investors looking to participate in the B.R. Goyal IPO should keep in mind these details before making their investment decisions.

B.R. Goyal Infrastructure IPO: Key Details

B.R. Goyal IPO will remain open until Jan. 9, providing a window for investors to place their bids. The basis of allotment will be determined on Jan. 10. Unsuccessful investors can expect the initiation of refunds by Monday, Jan. 13, alongside the credit of shares to the Demat accounts of successful investors on the same day. 

Shares of B.R.Goyal Infrastructure Ltd. are set to be listed on the BSE SME platform, with the official listing date scheduled for Tuesday, Jan. 14.

Of the 63,12,000 shares offered — 11,92,000 (18.88%) is reserved for Qualified Institutions, 8,94,000 (14.16%) for Non-Institutional Buyers, 20,86,000 (33.05%) for Retail Investors, 38,000 (0.6%) to employees and 17,86,000 (28.3%) to Anchor investors.

B.R. Goyal’s IPO price band is set between Rs 128 and Rs 135 per share. Retail investors can place bids for a minimum of 1,000 shares, requiring an investment of Rs 1,35,000. 

High Net-Worth Individuals (HNIs) are required to bid for a minimum of 2,000 shares, which amounts to Rs 2,70,000.

Beeline Capital Advisors Pvt. is serving as the book-running lead manager for the B.R. Goyal IPO, while Link Intime India Pvt. has been appointed as the registrar for the issue. 

Spread X Securities Pvt. Limited has been designated as the market maker for this BSE SME issue.

B.R. Goyal IPO Subscription Status: Day 2

The IPO has been subscribed 2.23 times as of 10:29 a.m. on Tuesday:

  • Qualified Institutions: Nil

  • Non-Institutional Buyers: 1.23 times

  • Retail Investors: 3.96 times

  • Employees: 0.34 times

The subscription status will be updated at regular intervals.

B.R. Goyal IPO GMP Today

The grey market premium (GMP) for the B.R. Goyal SME IPO was Rs 45 as of 07:54 a.m. on Jan. 8. With the price band set at Rs 135 per share, the estimated listing price for the IPO is Rs 180, which is the sum of the cap price and the current GMP. Based on the anticipated listing price, this implies a gain of 33.33% per share for investors.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation

B.R. Goyal Infrastructure: Business And Financials

B.R. Goyal Infrastructure Ltd., founded in 2005, specialises in constructing infrastructure projects such as roads, highways, bridges and buildings. The company has built a strong integrated EPC (Engineering, Procurement, and Construction) and construction business, supported by a skilled design and engineering team as well as a ready-mix concrete (RMC) unit in Indore, with an annual capacity of 1.80 lakh cubic meters.

As of September 30, 2024, B.R. Goyal Infrastructure operates a fleet of over 199 construction equipment and vehicles. The company also ventured into the wind energy sector in 2005 with the installation of a 1.25 MW wind turbine in Jaisalmer, Rajasthan. 

Over the years, it has completed numerous projects across Madhya Pradesh and is currently expanding its operations, undertaking road construction projects in Maharashtra, Gujarat, Mizoram, Manipur and Uttar Pradesh.

Use Of Proceeds

The company has proposed to use the net proceeds from the IPO to meet its capital expenditure and working capital requirements. Additionally, a portion of the funds will be used for inorganic growth, including acquisitions and other strategic initiatives. The remaining funds will be used for general corporate purposes.

Financials

For the period ending July 31, 2024, B.R. Goyal Infrastructure Ltd. reported a total revenue of Rs 156.86 crore, while for the year ending March 31, 2024, the revenue stood at Rs 596.19 crore. In comparison, the revenue for FY23 was Rs 353.29 crore. 

B.R. Goyal Infrastructure posted a net profit of Rs 1.94 crore for the four months ending on July 21, 2024, Rs 21.88 crore for FY24 and Rs 17.33 crore for FY23. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The grey market premium (GMP) for the B.R. Goyal SME IPO was Rs 45 on Jan. 8.  Read MoreIPOs, Markets 

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