Mumbai: B R Goyal Infrastructure Limited (BRGIL) is coming out with its Initial Public Offering (IPO) of 63,12,000 equity shares priced at Rs 128 to Rs 135 per share – aggregating to Rs 85.21 crores – which will open on January 7, 2025 and close on January 9, 2025.
The net proceeds from the IPO will be utilized for funding capital expenditure requirements, working capital requirements, expenditure for inorganic growth through acquisitions, other strategic initiatives and general corporate purposes.
BRGIL specializes in road construction and infrastructure projects as EPC contractors and construction service providers through management of all project phases from design and engineering to procurement and site execution.
BRGIL’s diverse portfolio includes asphaltic and concrete roads, buildings, bridges and civil works. The company is involved in wind power generation, ready-mix concrete manufacturing and Toll Collection Contracts, besides holding a diverse portfolio of government projects and strategic joint ventures.
Brij Kishore Goyal, Chairman and Managing Director, (BRGIL), said that managing working capital effectively has been one of the key challenges to the Company’s growth and the IPO funds would not only help overcome this hurdle, but also be strategically allocated towards capital expenditures, acquisitions and other growth-oriented initiatives.
“These investments will enable us to embark on a transformative new phase of growth and expansion,” he said, adding that the Company presently has an orderbook of Rs 900 crores.
In FY24, the Company achieved a Revenue of Rs 58,875.91 lakhs, EDITDA of Rs 3,245.58 lakhs and PAT of Rs 2,187.75 lakhs.
The IPO is to be listed on the BSE and SME platforms. The Book Running Lead Manager to the issue is Beeline Capital Advisors Private Limited, while the Registrar to the issue is Link Intime India Private Limited.
