BR Goyal IPO day 2: GMP, subscription status, price band, other details of BSE SME IPO | Stock Market News

BR Goyal IPO: The initial public offering (IPO) of infrastructure and construction company BR Goyal opened for subscription on Tuesday, January 7, and will remain so until Thursday, January 9. The ₹85 crore SME IPO is entirely a fresh issue of over 63 lakh shares. The IPO has been fully subscribed and current grey market trends indicate the stock could be listed at a premium of over 30 per cent.

BR Goyal IPO subscription status

By 11:45 AM on Wednesday, the second day of subscription, the issue had been subscribed 3.57 times, with the retail portion booked 6.35 times and the segment reserved for non-institutional investors (NIIs) subscribed 1.96 times. The segment reserved for qualified institutional buyers had not seen any subscriptions till then.

BR Goyal IPO details

1. BR Goyal IPO GMP: According to market sources, the latest grey market premium (GMP) of BR Goyal shares was ₹45. The latest GMP indicates the stock could be listed at a 33% premium.

2. BR Goyal IPO date: The SME IPO opened for subscription on Tuesday, January 7, and will conclude on Thursday, January 9.

3. BR Goyal IPO price: The price band of the public issue has been fixed at ₹128 to ₹135 per equity share.

4. BR Goyal IPO size: The company intends to raise ₹85.21 crore from the issue, which it will use to meet working capital requirements and funding capital expenditure requirements.

5. BR Goyal IPO lot size: Bidders can apply in lots, and one lot of the SME IPO comprises 1,000 company shares.

6. BR Goyal IPO reservation: Nearly 19 per cent of the net issue is reserved for QIBs, while 33 per cent of the net issue is reserved for retail investors. A little over 14 per cent of the issue is reserved for NIIs.

7. BR Goyal IPO allotment date: The IPO is closing on January 9, so as per SEBI’s listing rules, the company is expected to finalise the share allotment on Friday, January 10. Successful bidders can expect shares of the company in their demat accounts on Monday, January 13, and bidders who fail to get the allocation may get the refund on the same day.

8. BR Goyal IPO book-running lead manager and registrar: Beeline Capital Advisors Pvt Ltd is the book-running lead manager, while Link Intime India Private Ltd is the registrar for the issue.

9. BR Goyal IPO listing: As per SEBI’s T+3 rule of IPO listing, the SME IPO is proposed for listing on the BSE SME on Tuesday, January 14.

10. BR Goyal IPO business overview: According to the red herring prospectus (RHP) of the company, it has been engaged in the construction and development of infrastructure projects such as roads, highways, bridges and buildings since its inception and has ongoing projects in Madhya Pradesh, Maharashtra, Gujarat, Haryana, Uttar Pradesh, Mizoram and Manipur.

“Our company carry out EPC (engineering, procurement, and construction) services for third parties (majorly for government departments), primarily in the roads and highways, commercial complexes, industrial parks, housing projects and HAM (Hybrid Annuity Mode) Projects. Our company is also engaged in wind power generation, manufacturing of ready-mix concrete (RMC) and toll collection contract (TCC),” said the company.

The company’s profit after tax (PAT) for FY22 stood at ₹7.56 crore, which rose to ₹17.34 crore in FY23 and ₹21.9. crore in FY24.

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