GR Infraprojects made a stellar debut, listing on the BSE at Rs.1700 v/s IPO price of Rs.837 per share.

The IPO had witnessed a fantastic demand, subscribing 102.58 times, with HNI portion subscribing over 238 times, QIBs over 168 times and Retail over 12.5 times.

The company is an integrated road EPC company with experience in design and construction of various road and highway projects across 15 states in India, having recently diversified into the railway sector.

In our New Issue Analysis, we had said, “Strong Fundamentals, backed with Reasonable Valuations, lead to high probability of listing gains and also keep outlook healthy over the longer term. Hence, we recommend a ‘subscribe’ to the IPO.”