G R Infraprojects Ltd. has announced public offering of 11508704 shares at a price of Rs 5.00 each for Cash at a Premium of Rs 832.00 per share. The gross proceeds of the issue are expected to be Rs 96,327.85 lakhs.

The company's initial public offer (IPO) will open on 07 July 2021 and is expected to close on 09 July 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 832.00-837.00 per share.

The IPO includes a fresh Issue of 11508704 Equity Shares of the Company at an price of Rs 837.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 17 shares with bids in multiples of 17.

G R Infraprojects Ltd. anticipates using the proceeds of the issue for (i) Pradeep Kumar Agarwal shall bear such percentage of the expenses as is the proportion of his contribution to the Offered Shares; and

(ii) India Business Excellence Fund and India Business Excellence Fund I shall bear all expenses other than the portion mentioned in point (i) above in the proportion to their respective contribution to the aggregate of the Equity Shares being offered by them

The expenses incurred in relation to the Offer will be borne in accordance with the arrangement above, both in the event of successful completion of the Offer, or in the event that the Offer is withdrawn or not completed for any reason whatsoever.

HDFC Bank Limited,Kotak Mahindra Capital Company Ltd.,Equirus Capital Private Limited,Motilal Oswal Investment Advisors Limited,SBI Capital Markets Limited,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.