B.R. Goyal Infra made a flat debut on the stock market on January 14, with its shares listing at ₹135.75 on the BSE SME platform, a modest 0.56% premium over the IPO issue price.
The company’s IPO, which was open for subscription from January 7 to 9, was oversubscribed by 110 times. The offering was priced between ₹128 and ₹135 per share, and the company’s market valuation at the time of listing stood at ₹323.42 crore. B.R. Goyal Infrastructure Ltd, primarily focused on the construction of infrastructure projects, raised ₹85.21 crore through the IPO, which consisted entirely of a fresh issue of 63.12 lakh shares.
Prior to the IPO, the company had raised ₹24.11 crore by issuing 17.86 lakh shares at ₹135 per share through an anchor book placement on January 6.
Incorporated in 2005, B.R. Goyal Infrastructure is involved in the construction of roads, highways, bridges, and buildings. The company has built a strong integrated EPC (Engineering, Procurement, and Construction) business supported by a dedicated design and engineering team, along with a ready-mix concrete (RMC) unit based in Indore with an annual capacity of 1.80 lakh cubic meters. As of September 30, 2024, B.R. Goyal Infra operates with a fleet of over 199 construction vehicles and equipment.
In addition to its core construction business, the company ventured into wind energy in 2005, installing a 1.25 MW wind turbine in Jaisalmer, Rajasthan. It has executed successful projects across Madhya Pradesh and is currently working on road construction projects in Maharashtra, Gujarat, Mizoram, Manipur, and Uttar Pradesh.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 14, 2025, 12:02 PM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
