G R Infraprojects shares list with massive premium of 105%

Shares of G R Infraprojects made a strong debut in the equity market on Monday, listing with a premium of 105 percent, against the issue price of Rs 837.

The stock listed at Rs 1,700, reflecting a huge jump of 103.10 percent from the issue price on BSE. It then zoomed 107.24 per cent to Rs 1,734.60 as trade progressed.

On NSE, it debuted at Rs 1,715.85, a massive gain of 105 per cent.

The company's market valuation was at Rs 16,234.08 crore on BSE.

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The initial public offer of GR Infraprojects was subscribed a whopping 102.58 times earlier this month.

The IPO was in a price range of Rs 828-837 per share.

The Udaipur-based firm is a leading integrated road engineering, procurement and construction (EPC) company with experience in design and construction of various road and highway projects across 15 states in India.

It has recently diversified into projects in the railway sector.