B R Goyal Infra IPO: Issue To Open For The Public On Jan 7, Check Price Band And Other Details

The issue will remain open for subscription from Jan 7 to 9, while the anchor investors will be allowed to place their bids for the listing on Jan 6, 2025.

The price band of the offering has been fixed at Rs 128 to Rs 135 per equity share.

Source : Groww

B R Goyal Infrastructure is set to open its maiden offer for the public on January 7, 2025. The company decided the price range of its initial public offering (IPO) on Saturday. The issue will remain open for subscription from Jan 7 to 9, while the anchor investors will be allowed to place their bids for the listing on Jan 6, 2025.

The price band of the offering has been fixed at Rs 128 to Rs 135 per equity share. The issue at the upper price range will raise Rs 85.2 crore, while the shares of the firm will be listed on the BSE’s SME platform, reported PTI.

The listing of the Indore-based B R Goyal comprises of a fresh issue of up to 63.12 lakh equity shares with a face value of Rs 10 per piece, the red herring prospectus (RHP) revealed. The net proceeds from the issue would be utilised to fund the capital expenditure requirement and finance the working capital requirement of the firm.

The RHP revealed that the funds from the offer will be used by B R Goyal Infra for financing the funding expenditure for inorganic growth via acquisitions and general corporate purposes.

Brij Kishore Goyal, Chairman and MD, B R Goyal Infrastructure Ltd, noted, “The IPO funding will not only help us overcome this hurdle but also be strategically allocated towards capital expenditures, acquisitions, and other growth-oriented initiatives. These investments will enable us to embark on a transformative new phase of growth and expansion.”

The book-running lead manager of the issue is Beeline Capital Advisors, while Link Intime India is the registrar for the maiden listing. The company specialises in road construction and infrastructure projects as EPC contractors and construction service projects. The company clocked a revenue of Rs 155.51 crore as of July 2024 and recorded a profit after tax of Rs 1.97 crore.