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Udaipur based GR Infraprojects files for IPO

GR Infraprojects, a road engineering, acquisition, and development firm headquartered in Udaipur, has filed its Draft Red Herring Prospectus (DRHP) with the market’s regulator SEBI (Securities and Exchange Board of India) for its first initial public offering (IPO). The IPO will be worth between INR 800-1000 crore.

To talk about the company, GR Infraprojects is a firm registered as a construction group empaneled by the PWD or Public Works Department, Government of Rajasthan. The company is located in Hiran Magri, Sector 11, Udaipur.

About GR Infraprojects

GR Infraprojects is an integrated road EPC firm with expertise in the design and development of numerous road/highway projects in 15 Indian states, as well as a recent foray into railway projects. After its inception in December 1995, the company has steadily expanded its implementation capability in terms of the scale of projects it has bid on and completed.

GR Infraprojects has more than 25 years of experience in the road industry, including the design and development of state and national highways, bridges, culverts, flyovers, airport runways, tunnels, and rail over-bridges. One of GR Infraprojects’ first infrastructure projects was for the Rajasthan Public Works Department in 1997, with a Bid Project Cost of 26.50 million, while the project recently awarded by NHAI, namely the Vadodara Mumbai Expressway project in Maharashtra on a HAM basis, to the company in 2020, has a Bid Project Cost of 27,470.00 million.

The forte of the GR Infra project is civil development, and since 2006, it has completed over 100 road-building projects. In addition to state and national highways, GR has built bridges, culverts, flyovers, airport runways, and rail over bridges.

According to Economic Times, the company’s income from operations rose at a CAGR of 39% over the last three fiscal years, rising from INR 3,295 Crores in FY2018 to INR 6,373 Crores in FY2020, while profit increased from INR 413 Crores in FY2018 to INR 799 Crores in FY20.

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