GMR Infrastructure IPO
GMR Infrastructure IPO — date, price band, lot size & details 2006
GMR Infrastructure listed on 21 Aug 2006 at ₹216, 2.9% above the ₹210 issue price.
GMR Infrastructure is a power, road and airport developer, with power plants in Chennai and Mangalore and stakes in the Hyderabad and Delhi airport projects. Its total income was Rs 1,090.06 crore in FY2006.
Stock price
GMR Infrastructure is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 31 Jul 2006
- Close 04 Aug 2006
- Allotment TBA
- Refund/credit TBA
- Listing 21 Aug 2006
Issue summary
The terms of the offer, as filed.
| IPO Dates | 31 Jul to 4 Aug, 2006 |
|---|---|
| Price Band | ₹210 – ₹250 |
| Face Value | ₹10 |
| Lot Size | 25 Shares |
| Issue Size | ₹794.63 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 10.50 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 5,250 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 25 shares at the ₹210 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 25 | ₹5,250 |
| Retail (max) | 38 | 950 | ₹1,99,500 |
| S-HNI (min) | 39 | 975 | ₹2,04,750 |
| S-HNI (max) | 190 | 4,750 | ₹9,97,500 |
| B-HNI (min) | 191 | 4,775 | ₹10,02,750 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It held 4 power plants, 6 road projects and 2 airport projects, including the Hyderabad and Delhi airports.
- 02Total income rose from Rs 1,003.34 crore in FY2004 to Rs 1,090.06 crore in FY2006.
- 03Profit after tax rose from Rs 68.00 crore in FY2004 to Rs 70.55 crore in FY2006.
- 04Rs 102.50 crore of the issue was for the Hyderabad airport and Rs 93.20 crore for Delhi airport.
Risks · 5
- 01Profit after tax was only Rs 70.55 crore in FY2006 on total assets of Rs 3,916.61 crore.
- 02Of its 6 road projects, 4 were still under development, so returns lay years ahead.
- 03Rs 289.30 crore of the issue was paid to the promoter and a group company for buying GVL Investments.
- 04Infrastructure projects depend on government contracts, tariffs and approvals; only 2 of its 4 power plants were in commercial operation.
- 05The issue was priced at Rs 210, the bottom of its band, and promoter holding fell from 89.46% to 79.15%.
Three years of numbers
All figures in ₹ crore, as reported in the GMR Infrastructure offer document.
| Metric | 31 Mar 2006 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|
| Assets | 3,916.61 | 2,725.93 | 2,174.82 |
| Total Income | 1,090.06 | 1,021.45 | 1,003.34 |
| Profit After Tax | 70.55 | 69.05 | 68.00 |
| Reserves and Surplus | 305.99 | 280.62 | 219.11 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the GMR Infrastructure RHP.
Where the money goes
₹1,073.10 Cr of the issue is earmarked to named objects.
About the company
It develops and runs power plants, road projects and airports, sectors that were mostly owned by government bodies until then.
Its assets included four power plants, of which two were in commercial operation, six road projects, of which two were operating, and two airport projects, a greenfield airport at Hyderabad and the modernisation of Delhi airport. The Chennai plant is a 200MW facility at Basin Bridge.
The IPO was Rs 794.63 crore and was entirely a fresh issue at Rs 210, the bottom of the Rs 210 to Rs 250 band. The money was mainly for investing in its airport, road and power project companies.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
GMR Infrastructure IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
Dam Capital Advisors Ltd
69 issues handledBest listing: Go Colors (+89.9%). Weakest: Metro Brands (-12.6%).
JM Morgan Stanley Pvt. Ltd
22 issues handledBest listing: Infrastructure Development Finance Co (+76.5%). Weakest: House of Pearl Fashions (-9.1%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of GMR Infrastructure?
The current Grey Market Premium is ₹0.
What is the GMR Infrastructure IPO price band?
₹210 to ₹250, on a face value of ₹10.
When is the allotment?
The basis of allotment is TBA, with listing on 21 August 2006.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
