On the final day of bidding on Thursday, January 9, BR Goyal Infrastructure Limited’s IPO is receiving a lot of interest from different types of investors.
On January 7, subscriptions for the BSE SME issue became available. The construction company based in Indore wants to raise Rs 85.21 crore through the public offering from the primary market.
Subscription acoss all categories
Non-Institutional Investors (NIIs) led the IPO’s 256.9. bookings on the final day of subscription. The IPO received bids for more than 49.71 crore shares, compared to the 42.1 lakh shares that were available, according to BSE data as of 5.00 PM
In contrast to the 20.86 lakh shares reserved for the category, retail investors nearly 88.27 times subscribed their quota with bids for over 18.41 crore shares.
With over 22.96 crore shares applied for out of the 8.9 lakh shares available, the NIIs booked their quota 256.9 times.
A total of 11.92 lakh shares were reserved for Qualified Institutional Buyers (QIBs), but they applied for almost 8.32 crore shares. 69.88 times, the QIBs reserved their category.
IPO size and structure
The B.R. Goyal IPO is a Rs 85.21 crore book-built offering. The issue is a brand-new 63.12 lakh share offering. There is no OFS (offer for sale) component present in public issue.
Price band and minimum bid
The price range for B.R. Goyal’s IPO is Rs 128 to Rs 135 per share. An application must have a minimum lot size of 1000. Retail investors must invest a minimum of Rs 1,35,000 in order to qualify. For HNI, the minimum lot size investment is two lots (2,000 shares), or Rs 2,70,000.
Subscription and listing period
Bidding for the B.R. Goyal IPO began on January 7, 2025, and ended on January 9, 2025. On Friday, January 10, 2025, the allocation for the B.R. Goyal IPO is anticipated to be finalised.
The tentative listing date for the B.R. Goyal IPO is set for Tuesday, January 14, 2025, on the BSE SME.
Use of IPO proceedings
The company intends to use Rs 8.02 crore of the IPO proceeds for capital expenditures, particularly the purchase of vehicles, in accordance with BR Goyal Infrastructure’s RHP. By strengthening its fleet, this investment seeks to improve support for EPC services.
Additionally, working capital needs will be met with Rs 42 crore of the IPO funds. Funding inorganic growth through acquisitions, other strategic initiatives, and general corporate purposes will also be funded in part by the IPO proceeds.
Company financials
The infrastructure company’s operating revenue for the period ending July 31, 2024, was Rs 147.34 crore. In the current fiscal year 2025, the profit after tax (PAT) for the April–July period was Rs 1.99 crore.
BR Goyal Infra’s operating revenue for the fiscal year that concluded on March 31, 2024, was Rs 578.80 crore, up from Rs 345.29 crore in the previous fiscal year (FY23). FY24’s profit after tax was Rs 21.86 crore, up from FY23’s Rs 16.18 crore.
