253179 SIP myths you must know!
The issue will be a complete offer for sale of 1,15,08,704 equity shares of face value of Rs 5 each by promoter and investor selling shareholders.
GR Infraprojects Ltd, an integrated road engineering, procurement and construction company, has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator for initial public offering (IPO). As per market sources, the IPO size will be approximately between Rs 800 crore to Rs 1,000 crore.
The issue will be a complete offer for sale of 1,15,08,704 equity shares of face value of Rs 5 each by promoter and investor selling shareholders. The offer includes an employee reservation portion as well. The Company will not receive any proceeds from the offer since it involves only the offer for sale.
The portion reserved for qualified institutional buyers will be up to 50% of the offer, non-institutional investors to have up to 15% of the portion reserved while up to 35% will be reserved for the retail investors. The equity shares offered are proposed to be listed on the BSE and NSE both.
HDFC Bank, ICICI Securities, Kotak Mahindra Capital Company, Motilal Oswal Investment Advisors, SBI Capital Markets, Equirus Capital are the book running lead managers to the issue. KFin Technologies is the registrar to the offer.