GR Infraprojects Limited plans to raise Rs 18 billion through an IPO

GR Infraprojects Limited plans to raise Rs 18 billion through an IPO. It has filed a DRHP with SEBI for the same. The IPO comprises a fresh issue of shares worth up to Rs 5 billion besides an offer for sale of up to 11,225,343 equity shares by existing shareholders. The proceeds from the IPO will be utilised for investment in the company’s subsidiaries, repayment of loans, purchase of capital equipment for its engineering, procurement and construction business and for other general corporate purposes. HDFC Bank, IDFC Bank, Motilal Oswal Investment Advisors Private Limited and Yes Securities (India) Limited will manage the IPO.