GR Infraprojects has submitted the draft Red Herring prospectus to the Indian market regulator Securities and Exchange Board for IPO. The primary market offer of the Udaipur-based integrated road construction, procurement and construction company will be an offer (OFS) for the sale of 1,15,08,704 shares by the promoter and other shareholders. The shares are expected to be listed on the BSE and the NSE.
The OFS includes the sale of 11,42,400 shares in Lokesh Builders, 1,27,000 shares in Jasamrit Premises and 80,000 shares in Jasamrit Fashions, among others. The company will not receive any proceeds from the share sale as it is an offer to sell.
HDFC Bank, ICICI Securities, Kotak Mahindra Capital Company, Motilal Oswal, SBI Capital Markets and Equirus Capital investment advisors are the lead managers while KFin Technologies is the registrar for the issue.
GR Infraprojects is involved in civil construction; Development of roads and highways based on Build-Operate-Transfer (BOT) and manufacturing activities.
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