G R Infraprojects Limited which had tapped the capital markets with its offer for sale of 1,15,08,704 equity shares, listed on the bourses and had a very successful listing. The company whose price band was Rs 828-837 and had allotted shares at the top end, saw its shares close at Rs 1,746.80 on BSE, a gain of Rs 908.80 or 108.45%. On NSE, the closing price was Rs 1,747.10, a gain of Rs 909.10 or 108.48%.
The discovered price was Rs 1,700.00 on BSE and Rs 1,715.85 on NSE. The traded value at the discovered price was 86,655 shares at BSE and 21,16,088 shares on NSE. The high of the day on BSE was Rs 1,838.80, the low was Rs 1,550.00 while the close was Rs 1,746.80. On NSE, the high was Rs 1,715.85, low was Rs 1,550.00 while the close was Rs 1,747.10.
Earlier the company had allotted 33,85,110 shares at Rs 837 to 22 anchor investors comprising of 47 entities. The highest allocation was made to Smallcap World Fund who was allotted 6,21,282 shares forming 18.35% of the anchor allocation. This was followed by ICICI who was allotted 2,21,051 shares or 6.51% of the anchor allocation. This was followed by an equal allocation of 2,03,099 shares or 6% to 4 investors where one was an FPI and three were domestic entities. These were Abu Dhabi Investment Authority, Nippon India, SBI Mutual Fund and HDFC Mutual Fund.
The top six anchor investors were allotted a total of 16,54,729 equity shares or 48.86% of the anchor book.
The QIB portion was subscribed 168.58 times, HNI portion was subscribed 238.04 times and Retail portion was subscribed 12.57 times. Employee portion was subscribed 1.37 times. There were 23.80 lac applications and on basis of lots the retail portion was subscribed 10.25 times. Overall, the issue was subscribed 102.58 times.
The issue garnered subscription of over Rs 70,100 crs. The HNI portion received bids for Rs 33,763 crs. The issue had opened on Wednesday the 7th of July and closed on Friday the 9th of July.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 1700.00 | 1838.80 | 1550.00 | 1746.80 | 908.80 | 108.45 | 1705.33 | 767697 | 319929 | 41.67 |
| NSE | 1715.85 | 1838.00 | 1550.00 | 1747.10 | 909.10 | 108.48 | 1710.33 | 14023521 | 6493035 | 46.30 |
| Total | 14791218 | 6812964 | 46.06 |
The total traded quantity on the two exchanges was 147.91 lac shares which was 1.29 times the IPO size of 115.08 lac shares. It was 1.82 times the non-anchor portion of 81.23 lac shares. The delivery volume was 68.13 lac shares which was 46.06% of the traded quantity. It was 59.20% of the IPO size and 83.87% of the non-anchor portion. Weighted average of the day’s trade was Rs 1,705.33 on BSE and Rs 1,710.33 on NSE. The difference between the weighted average and the closing price shows that the share was under no sort of pressure in the last hour of trade.
There was just one institutional trade reported where Nomura bought 5 lac shares at Rs 1,714.60 per share.
The share has performed excellently and lucky investors have made more than double returns. Going forward it would be important for the great showing of day one to continue. For this the performance of the company when it reports results for the quarter ended June 2021 would be very important. Looking at the focus on infrastructure, it should not be a problem for the company to report a decent set of results.
