B.R.Goyal Infrastructure Limited IPO
B.R.Goyal Infrastructure Limited IPO
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The Initial Public Offering of B.R.Goyal Infrastructure Limited's culminated in its successful listing on 14-01-2025 at the BSE trading platform. The company secured 63,12,000 Shares through this capital market exercise, with 63,12,000 Shares allocated to new capital formation.
Investors participated within the price parameters of ₹128 to ₹135, with minimum investment requirements of 1000 shares. The subscription period from 07-01-2025 to 09-01-2025 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on 10-01-2025. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
B.R.Goyal Infrastructure IPO About Company
Incorporated in 2005, B.R. Goyal Infrastructure Limited is a diversified infrastructure company specializing in construction, manufacturing, energy, and real estate. The company provides EPC services for roads, highways, bridges, buildings, and other civil projects, supported by an in-house design and engineering team. Its Ready Mix Concrete (RMC) unit in Indore has an annual capacity of 1.8 lakh cubic meters, ensuring sustainable production. In renewable energy, the company operates a 1.25 MW wind turbine in Jaisalmer, Rajasthan, which generated 14.7 lakh kWh in FY2024, contributing INR 49.38 lakhs in revenue. B.R. Goyal Infrastructure also manages Toll Collection Contracts across Madhya Pradesh, Maharashtra, Gujarat, and Uttar Pradesh, and has expanded into real estate with residential projects like BRG Hill View-II in Indore. With over 192 construction equipment and vehicles, the company has executed projects across multiple states, including Madhya Pradesh, Maharashtra, Gujarat, Mizoram, Manipur, and Uttar Pradesh.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
B.R.Goyal Infrastructure IPO Strength Factors
- Established Expertise: Known for construction of roads, highways, and civil infrastructure with a proven track record across multiple states.
- Efficient Operations: In-house design, engineering, and RMC production enable cost-efficient and sustainable operations.
- Strong Growth Pipeline: Maintains a healthy order book with projects expanding across Maharashtra, Gujarat, Mizoram, Manipur, and Uttar Pradesh.
B.R.Goyal Infrastructure IPO Risk Factors
- Challenges with Competitive Bidding: Relying on competitive bidding to win projects can be risky. If contracts aren’t secured, it may affect the company’s income and day-to-day operations.
- Dependence on EPC Revenue: The business depends heavily on its EPC segment, which means any changes in winning contracts or completing projects could make it vulnerable.
- Reliance on Key Clients: Depending on a few major clients creates a risk. Losing one of them could lead to reduced revenue and operational difficulties.
B.R.Goyal Infrastructure IPO Lead Manager(s)
- Beeline Capital Advisors Private Limited
B.R.Goyal Infrastructure IPO Promoter(s)
- Mr. Brij Kishore Goyal
- Mr. Balkrishna Goyal
- Mr. Gopal Goyal
- Mr. Rajendra Kumar Goyal
- Mr. Yash Goyal
- Mr. Uppal Goyal
- M/S. B.R. Goyal Holdings Private Limited
B.R.Goyal Infrastructure IPO FAQs
B.R.Goyal Infrastructure Limited IPO subscribed 119.23 times. The public issue subscribed 88.27 times in the retail category,69.88times in QIB, and -- times in the HNI (10+) category byNovember 24, 2025 12:18:37 PM (Day 24).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
B.R.Goyal Infrastructure IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
B.R.Goyal Infrastructure IPO FAQs
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