Gammon Infrastructure Projects Limited (GIPL) is gearing up to launch its Initial Public Offering (IPO) soon, attracting a lot of attention from investors. The company, known for its strong presence in the infrastructure sector, plans to raise significant funds through this public offering.
IPO Details
The Gammon Infra IPO is set to offer shares at a price band of ₹167 per share. The issue aims to raise approximately ₹276.39 crore. With a face value of ₹10 per share, this IPO is expected to generate substantial interest among both institutional and retail investors.
Subscription Overview
The IPO has already shown strong signs of being well-received, with the Qualified Institutional Buyers (QIBs) segment oversubscribed by nearly 3 times, and Non-Institutional Investors (NIIs) also showing healthy demand. However, the retail segment has been somewhat slower, with subscriptions standing at just 0.10 times. Despite this, the overall response has been positive, with investors showing strong belief in the company’s future growth potential.
Use of Funds
The funds raised from this IPO will be used to finance Gammon Infra’s key projects, particularly the Rangit II hydroelectric power project in Sikkim. This project is expected to play a vital role in the company’s growth and expansion in the renewable energy sector.
About the Company
Gammon Infra, established in 2001, is primarily focused on infrastructure development, including roads, bridges, ports, and power plants. The company operates on a Public-Private Partnership (PPP) model, which has helped it establish a strong foothold in the sector. With its strong track record and promising future projects, Gammon Infra’s IPO is one to watch.
