GR Infraprojects lists 105% above issue price on NSE, doubles investors’ wealth

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GR Infraprojects share price: Shares of GR Infraprojects made a strong debut on the stock exchanges today listing at 105 per cent higher than their issue price.

The scrip got listed at Rs 1,715.85 apiece on the National Stock Exchange (NSE), thereby registering a gain of 105 per cent from its offer price of Rs 837. On the BSE, it opened at Rs 1,700.00, up 103.11 per cent from the issue price.

The stock continued its initial momentum hitting a high Rs 1,734.60 on BSE and Rs 1,732.25 on the NSE during the early minutes of trade on the first day, however, it slowly gave up some of its initial gains and touched an intraday low of Rs 1,550.00 on both NSE and BSE so far in the day.

At 11:25 am, the scrip was trading at Rs 1703.35 on the BSE, up 103.51 per cent from the issue price while on NSE it was at Rs 1,701.65.

Over 91 lakh shares of G R Infraprojects were traded on the NSE during the first 90 minutes of trade, while over 5.18 lakh shares exchanged hands on the BSE, data from the respective stock exchanges showed.

The Rs 963 crore IPO of GR Infraprojects met a robust demand during its offer period from July 7-9. The issue was oversubscribed 102.58 times.

The Udaipur-based company is a leading integrated road engineering, procurement and construction (EPC) company with experience in the design and construction of various road and highway projects across 15 states in India. It has recently diversified into projects in the railway sector.

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