BR Goyal Infrastructure is likely to finalise the basis of allotment of its shares on Friday, January 10. Applications for issue will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by weekend or latest by Monday January 13. The SME IPO of the infra construction firm saw a solid response from the investors.
The IPO of Indore-based BR Goyal Infrastructure was open for bidding between January 07 and January 09. The company sold its shares in the fixed price band of Rs 128-135 apiece with a lot size of 1,000 equity shares. The company raised a total of Rs 85.21 crore via IPO, which was entirely a fresh share sale of 63.12 lakh equity shares.
The issue was overall subscribed a whopping 118.08 times, attracting bids worth more than Rs 6,700 crore. It managed to fetch more than 2.18 lakh applications. The quota for qualified institutional bidders (QIBs) was booked 69.88 times, while the portions for non-institutional investors (NIIs) and retail investors were subscribed 256.9 times and 88.27 times, respectively.
The grey market premium (GMP) of BR Goyal Infrastructure has seen some correction despite a strong bids on the back of rising volatility in the markets. Last heard, the company was commanding a premium of Rs 45 in the unofficial market, suggesting a listing gains of more than 33 per cent for the investors. The GMP stood at Rs 60 a day ago.
Incorporated in 2005, Indore-based BR Goyal Infrastructure is engaged in the business of construction of infrastructure projects such as roads, highways, bridges and buildings. The company has established an integrated EPC and construction business, supported by a design and engineering team and RMC unit.
Beeline Capital Advisors is the book running lead manager of the B.R.Goyal IPO, while Link Intime India is the registrar for the issue. The market maker for BR Goyal Infrastructure IPO is Spread X Securities. Shares of the company shall be listed at BSE SME platform on Tuesday, January 14, 2025. Investors, who had bid for the issue of BR Goyal Infrastructure, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select BR Goyal Infrastructure Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.