The initial public offering (IPO) of GR Infraprojects has been subscribed 5.75 times on July 8, the second day of the bidding process. Investors have put in bids for 4.67 crore equity shares against an offer size of 81.23 lakh shares.

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The portion reserved for retail investors has been subscribed 7.49 times, while that of non-institutional investors was subscribed 6.31 times, as per the data available on exchanges at 5 pm.

The employees’ portion has received a 75 percent subscription, while that of qualified institutional buyers saw 2.78 times subscription.

GR Infraprojects plans to raise Rs 963.3 crore through its public issue comprising a complete offer for sale by existing shareholders.

The company has already raised Rs 283 crore from anchor investors at a higher end of the price band of Rs 828-837 per share.

First Published:Jul 8, 2021 12:44 PM IST