The initial public offering of B.R.Goyal Infrastructure Ltd. which opened for subscription on Jan. 7 will close for bidding on Thursday. The SME issue was booked close to 10 times on Day 2 led by demand from retail investors who subscribed over 13 times the shares allotted.

The BSE SME issue is a book-built offer consisting entirely of fresh issuance of 63.12 lakh worth Rs 85.21 crore.

Here’s all you need to know about the BR Goyal Infrastructure IPO as bidding for Day 3 resumes.

B.R. Goyal Infrastructure IPO: Key Details

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.

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.

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 Day 3 Subscription Status

The IPO has been subscribed 11.5 times on Thursday

  • Qualified Institutions: 4.04 times

  • Non-Institutional Buyers: 12.01 times

  • Retail Investors: 15.74 times

  • Employees: 0.74 times

Subscription status will be updated at regular intervals.

BR Goyal Infrastructure IPO GMP Today

The grey market premium (GMP) for the BR Goyal Infrastructure IPO was Rs 60 as of 8:00 a.m. on Jan. 9. With the price band set at Rs 135 per share, the estimated listing price for the IPO is Rs 195, which is the sum of the cap price and the current GMP. Based on the anticipated listing price, this implies a gain of 44.44% per share for investors.

The GMP rate has been increasing steadily since the offer opened for subscription on Jan. 7, when it was Rs 35 before climbing to Rs 45 as the issue was fully booked on Day 1.

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

BR Goyal Infrastructure IPO: Important Dates

B.R. Goyal IPO will remain open until Jan. 9. The allotment for the B.R.Goyal IPO is expected to be finalised on Friday, January 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.

B.R. Goyal IPO Subscription Status: Day 2

The IPO was subscribed 9.51 times on Wednesday

  • Qualified Institutions: 4.04 times

  • Non-Institutional Buyers: 8.01 times

  • Retail Investors: 13.44 times

  • Employees: 0.74 times

About B.R. Goyal Infrastructure

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 60 on Jan. 9.  Read MoreIPOs, Markets 

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