IPO Details

Bidding Dates

06 Jan '25 - 08 Jan '25

Minimum Investment

₹1,35,000/ 1 Lot (1000 Shares)

Price Range

₹128 - ₹135

Maximum Investment

₹1,35,000/ 1 Lot (1000 Shares)

Retail Discount

To be announced

Issue Size

₹85.21 crore

Investor category and sub category

To be announced

B.R.Goyal Infrastructure IPO Important Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jan 6, 2025

IPO Closing Date

Jan 8, 2025

Basis of Allotment

Jan 9, 2025

Initiation of Refunds

Jan 12, 2025

IPO Listing Date

Jan 13, 2025

B R Goyal Infrastructure IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Jan 6, 2025

 0 0.93 2.72 1.55

Day 2Jan 7, 2025

 0 1.07 3.52 1.98

B.R.Goyal IPO

B.R. Goyal IPO is a book-built issue worth ₹85.21 crore, entirely consisting of a fresh issue of 63.12 lakh shares. The IPO opened for subscription on January 7, 2025, and will close soon on January 9, 2025. Investors can expect the allotment finalisation on January 10, 2025, with the listing set to take place on the BSE SME platform on January 14, 2025.

The IPO's price band ranges from ₹128 to ₹135 per share. Retail investors can apply for a minimum of 1,000 shares, requiring an investment of ₹1,35,000. High-net-worth individuals need to apply for at least two lots, equating to 2,000 shares and an investment of ₹2,70,000.

Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager for the IPO, ensuring a smooth process. Link Intime India Private Ltd is appointed as the registrar, managing all subscription-related queries and investor communications. Spread X Securities Private Limited is acting as the market maker for the IPO, providing liquidity post-listing.

This IPO presents an opportunity for investors to participate in the growth story of B.R. Goyal Infra Pvt Ltd.

Industry Outlook

  1. The Indian government has allocated ₹11.11 lakh crore for infrastructure in the Interim Budget 2024-25, marking an 11.1% increase. Additionally, 9,142 projects under the National Infrastructure Pipeline (NIP) involve an estimated investment of $1.9 trillion, with nearly half focusing on transportation and roads.
  2. India’s road network, the second largest globally, has grown by 59% over the past decade, now spanning 66.71 lakh km. National highway construction has reached 12,300 km in FY24, supported by record investments of ₹2.78 lakh crore in the road transport ministry.

B.R.Goyal Infrastructure IPO Objectives 

The company will use the proceeds of the issue for the following objects:

  • Funds will be used to support capital expenditure to enhance production capacity and efficiency.
  • Capital will be allocated for provision of working capital to streamline operations and meet day-to-day requirements.
  • A portion of the proceeds will be utilised for investment in acquisitions and strategic initiatives to drive inorganic growth and diversification.

About B.R.Goyal Infrastructure Limited 

B.R. Goyal Infrastructure Limited is a prominent company engaged in constructing and developing infrastructure projects, including roads, highways, bridges, and buildings. The company operates extensively across Madhya Pradesh, Maharashtra, Gujarat, Haryana, Uttar Pradesh, Mizoram, and Manipur. Its expertise spans Engineering Procurement Construction (EPC) services, Ready-Mix Concrete (RMC) manufacturing, wind power generation, toll collection contracts, and residential plotting projects.

Founded in 1986 as a partnership firm, the company transitioned into a private limited company in 2005 and later became a public limited entity in 2018. Over the years, it has built a robust track record in executing complex projects, particularly in the roads and highways sector. Its services encompass designing, engineering, material procurement, on-site execution, and project management. Additionally, the company provides repair and maintenance services under contractual agreements.

B.R. Goyal Infrastructure Limited leverages an integrated business model with in-house capabilities, including a design and engineering team and a state-of-the-art RMC manufacturing unit with an annual capacity of 1.80 lakh cubic meters. Its extensive equipment base includes over 199 pieces of construction machinery and vehicles as of September 2024, ensuring timely project execution.

The company has also diversified into wind power generation, commissioning a 1.25 MW turbine in Rajasthan and securing a 20-year power purchase agreement. Recognised for quality and timely delivery, it has received accolades like the "Captain of Industry" award in 2014 from the Chief Minister of Madhya Pradesh.

How To Check the Allotment Status of the B.R.Goyal Infrastructure IPO?

Steps to check IPO allotment status on Angel One’s app:

  1. Log in to the Angel One app.
  2. Go to the IPO Section and then to IPO Orders.
  3. Select the individual IPO that you had applied for and check the allotment status.
  4. Angel One will notify you of your IPO allotment status via push notification and email.

How To Apply for a B.R.Goyal Infrastructure IPO online?

  1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
  2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
  3. Select IPO: Find and select the B.R.Goyal Infrastructure IPO from the list of open IPOs.
  4. Enter the Lot Size: Specify the number of lots you want to bid for.
  5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
  6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

Contact Details of B.R.Goyal Infrastructure Limited 

Registered office: 3-A, Agrawal Nagar, Indore – 452001, Madhya Pradesh, India

Phone: : (+91-731) 2403831, 4096902

E-mail:cs@brginfra.in

B.R.Goyal Infrastructure IPO Reservation

Investor Category

Shares Offered

QIB Shares Offered

Not more than 50% of the Net Issue

Retail Shares Offered

Not less than 35% of the Net Issue

NII (HNI) Shares Offered

Not less than 15% of the Net Issue

 

B.R.Goyal Infrastructure IPO Lot Size Details

Application

Lots

Shares

Amount

Retail (Min)

1

1000

₹1,35,000

Retail (Max)

1

1000

₹1,35,000

HNI (Min)

2

2000

₹2,70,000

 

B.R.Goyal Infrastructure IPO Promoter Holding

The company's promoters are Mr. Brij Kishore Goyal, Mr. Balkrishna Goyal, Mr. Gopal Goyal, Mr. Rajendra Kumar Goyal, Mr. Yash Goyal, Mr. Uppal Goyal and M/S. B.R. Goyal Holdings Private Limited.

Share Holding Pre Issue

99.31%

Share Holding Post Issue

73%

 

Key Performance Indicators for B.R.Goyal Infrastructure IPO

As of March 31, 2024, the KPIs of B.R.Goyal Infrastructure

 

KPI

Values

ROE

18.91%

ROCE

19.72%

Debt/Equity

0.50

RoNW

18.91%

PAT Margin

3.72

Price to Book Value

0.93

Price Metrics

Metric

Pre-IPO

Post-IPO

P/E (x)

5.37

__

EPS (₹)

25.15

__

Note: The Pre-IPO EPS is based on the pre-issue shareholding and FY earnings as of March 31, 2024, as detailed in the RHP. Post-Issue EPS and the debt-to-equity ratio are calculated using post-issue shareholding and annualized earnings as of July 31, 2024.

 

B.R.Goyal Infrastructure IPO Prospectus

B.R.Goyal Infrastructure IPO Registrar and Lead Managers

B.R.Goyal Infrastructure IPO Lead Managers

Beeline Capital Advisors Pvt Ltd

Registrar for B.R.Goyal Infrastructure IPO

Link Intime India Private Limited 

  • Contact Number:+91-22-4918 6270
  • Email Address: brgoyal.ipo@linkintime.co.in

Website: B.R.Goyal Infrastructure IPO Registrar

Financial Performance of B.R.Goyal Infrastructure Limited

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue from Operation (in ₹ lakh) 57,880.62 34,529.78 20,839.24
Profit After Tax (PAT) (in ₹ lakh) 2187.75 1732.12 745.49
Return on Equity (“RoE”) (%) 19.09 16.94 8.84
Net Worth (in ₹ lakh) 12,666.79 10,479.04 8,746.91
Total Borrowings (in ₹ lakh) 4,947.28 4,163.53 5,340.28
Return on Capital Employed (RoCE) (%) 21.80 19.31 12.40
EBITDA (in ₹ lakh) 3,246.14 2,671.33 1,890.14

Know before investing

Strengths

8

  1. Over 20 years of expertise in road-focused EPC projects.

  2. Strong order book with Rs. 87,339.70 lakhs in ongoing projects.

  3. Efficient business model driving cost optimization and higher profit margins.

  4. Experienced management team with over 37 years in infrastructure development.

  5. Fleet of 199 modern construction equipment ensuring timely project completion.

  6. Focused on expanding geographical presence across key Indian states.

  7. The strong credit rating of CARE BBB+ supports project financing and growth.

  8. Diversifying into wind power and RMC manufacturing for future growth.

Risks

8

  1. Inability to qualify for large projects could affect business growth.

  2. High bid preparation costs without guaranteed acceptance of submissions.

  3. Reliance on joint ventures may lead to financial and operational risks.

  4. Delays in project completion may lead to penalties and lost payments.

  5. Dependency on a few clients may cause revenue instability.

  6. Cost overruns due to unforeseen conditions may harm financial health.

  7. Risks of claims and disputes with government entities can impact profitability.

  8. Unfavourable outcomes from joint ventures may lead to significant losses.

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Peer Comparison

Company Name EPS (Basic) NAV per Share(₹) RoNW (%)
B.R.Goyal Infrastructure Limited 12.57 144.27 19.09
Teerth Gopicon Limited 18.49 24.10 59.96
Udayshivkumar Infra Limited 5.54 31.60 17.22

B.R.Goyal Infrastructure IPO FAQs

What is the B.R.Goyal Infrastructure IPO?

B.R.Goyal Infrastructure IPO is a book-built issue IPO. It will be open from January 7, 2025, to January 9, 2025.

When will the B.R.Goyal Infrastructure IPO be allotted?

The Basis of Allotment will happen on Friday, January 10, 2025.

When will B.R.Goyal Infrastructure IPO open for subscription?

The IPO subscription window will open on January 7, 2025.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1000 shares.

When will B.R.Goyal Infrastructure IPO list on exchanges?

The listing date for B.R.Goyal Infrastructure IPO is Tuesday, January 14, 2025.

What is the issue size of the B.R.Goyal Infrastructure IPO?

The issue size of the B.R.Goyal Infrastructure IPO is up to ₹85.21  crore, with a complete fresh issue of ₹85.21 crore.

What are the open and close dates of the B.R.Goyal Infrastructure IPO?

The open and close dates for B.R.Goyal Infrastructure IPO are from January 7, 2025, to January 9, 2025.

What would be the listing gains on the B.R.Goyal Infrastructure IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

How to increase your chances of getting a B.R.Goyal Infrastructure IPO allotment?

  1. Multiple Submissions: Use different Demat accounts to make multiple applications.
  2. Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
  3. Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.

How do I approve the UPI mandate request for the B.R.Goyal Infrastructure IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of B.R.Goyal Infrastructure IPO using one PAN?

You can submit only one application using your PAN card.

How to read B.R.Goyal Infrastructure Limited's financial statements?

To read B.R.Goyal Infrastructure’s financial statements, download the IPO’s  RHP document.

What is 'pre-apply' for the B.R.Goyal Infrastructure IPO?

Pre-apply allows investors to apply for the  B.R.Goyal Infrastructure  IPO two days before the subscription period opens, ensuring an early submission of your application.

If I pre-apply for the B.R.Goyal Infrastructure IPO, when will my order get placed?

Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.

When will I know if my B.R.Goyal Infrastructure IPO order is placed?

You will receive a notification once your order is successfully placed with the exchange after the bidding starts.

Who is the registrar of the B.R.Goyal Infrastructure IPO?

Link Intime India Private Limited is the registrar responsible for managing the IPO allotment process and handling investor queries.

Where is the B.R.Goyal Infrastructure IPO getting listed?

The B.R.Goyal Infrastructure IPO is proposed to be listed on the SME platform of the Bombay Stock Exchange (BSE).