B.R. Goyal Infrastructure Makes Tepid Debut On BSE SME Platform
Date
1/14/2025 2:13:11 PM
(MENAFN- KNN India)
New Delhi, Jan 14 (KNN) B.R. Goyal Infrastructure Ltd opened flat on the BSE SME platform today, marking a tepid start for the infrastructure company despite strong investor interest during its initial public offering.
The shares listed at Rs 135.75, representing a marginal premium of 0.56 percent over its issue price, with the company achieving a market capitalisation of Rs 323.42 crore upon listing.
The company's IPO, which ran from January 7 to January 9, garnered significant attention in the primary market, securing a subscription rate of 110 times.
The offering was priced between Rs 128 and Rs 135 per share, with the company raising Rs 85.21 crore through a fresh issue of 63.12 lakh shares.
Prior to the public offering, B.R. Goyal Infrastructure successfully raised Rs 24.11 crore through its anchor book, placing 17.86 lakh shares at Rs 135 each with institutional investors on January 6.
The engineering, procurement, and construction (EPC) company maintains an active presence across multiple Indian states, currently executing road construction projects in Maharashtra, Gujarat, Mizoram, Manipur, and Uttar Pradesh.
The company plans to utilise the IPO proceeds strategically, focusing on capital expenditure, working capital requirements, and pursuing inorganic growth opportunities through acquisitions and other strategic initiatives.
This fundraising effort represents a significant step in B.R. Goyal's expansion plans within India's infrastructure sector.
(KNN Bureau)
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