B R Goyal Infra Sets SME IPO Price Band At Rs 128-135 Per Share, Issue To Open On January 7

New Delhi: B R Goyal Infrastructure, specializing in infrastructure projects, said on Saturday that it has fixed a price band of Rs 128-135 per equity share for Rs. 85.21 crore initial share sale, which will hit the markets on January 7. The initial public offering (IPO) ends on January 9, while bidding for anchor investors is set to open for a day on January 6, the company said in a statement. At the upper end of the price band, the company is going to fetch about Rs 85.2 crore, while shares of the company will be listed on the BSE's SME platform, it added.

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B R Goyal Infra sets IPO price band at ₹128-135.

Indore-based B R Goyal Infra's IPO is entirely a fresh issuance of up to 63.12 lakh equity shares with a face value of Rs 10 each, according to the red herring prospectus (RHP). The net proceeds from the public issue will be used for capital expenditure requirement funding and funding the working capital requirement. Funds from the IPO will also be used by B R Goyal Infra toward funding expenditures for inorganic growth through acquisitions and general corporate purposes, the RHP said.

B R Goyal Infrastructure Ltd Announces IPO to Drive Growth and Expansion

"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," Brij Kishore Goyal, Chairman & Managing Director of B R Goyal Infrastructure Ltd, said and added that these investments will enable them to embark on a transformative new phase of growth and expansion.

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B R Goyal Infra specializes in road construction and infrastructure projects as EPC contractors and construction service providers. The company manages all project phases, from design and engineering to procurement and site execution. As of July 2024, the company has reported a revenue of Rs 155.51 crore and clocked a profit after tax of Rs 1.97 crore. Beeline Capital Advisors is the sole book-running lead manager, while Link Intime India is the registrar for the IPO.