B.R. Goyal Infrastructure Limited Set to Launch Rs 85.21 Crore IPO

B.R. Goyal Infrastructure Limited plans to raise Rs 85.21 crore through an IPO by issuing 63,12,000 equity shares on the BSE SME platform. The funds will support capital and strategic growth, while allocations are made for employees, QIBs, non-institutional and retail investors. A new growth phase begins January 2025.

B.R. Goyal Infrastructure Limited, a leading EPC contractor in road and infrastructure projects, is poised to open its Initial Public Offering (IPO) on January 7, 2025. The company aims to raise Rs 85.21 crore through the fresh issuance of 63,12,000 equity shares, earmarked for listing on the BSE SME platform.

Shares are priced between Rs 128 and Rs 135, with allocations including up to 38,000 shares for employees, and at least 20,86,000 for retail investors. The company plans to leverage IPO proceeds to fund capital and working capital requirements, and to support its growth via acquisitions and strategic initiatives.

B.R. Goyal's Chairman, Brij Kishore Goyal, expressed confidence in the firm's capability to continue its successful trajectory. The IPO funding is expected to overcome working capital challenges and fuel transformative growth. Beeline Capital Advisors will manage the issue, and anchor bidding opens January 6, closing on January 9, 2025.

(With inputs from agencies.)