GR Infraprojects gains on incorporating wholly owned subsidiary company

GR Infraprojects is currently trading at Rs. 1449.35, up by 5.95 points or 0.41% from its previous closing of Rs. 1443.40 on the BSE.

The scrip opened at Rs. 1479.00 and has touched a high and low of Rs. 1484.80 and Rs. 1445.65 respectively. So far 1136 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 2277.00 on 25-Oct-2021 and a 52 week low of Rs. 1249.70 on 07-Mar-2022.

Last one week high and low of the scrip stood at Rs. 1484.80 and Rs. 1414.10 respectively. The current market cap of the company is Rs. 14020.87 crore.

The promoters holding in the company stood at 86.54%, while Institutions and Non-Institutions held 10.03% and 3.43% respectively.

GR Infraprojects has formed a wholly? owned subsidiary in the name and style of 'GR Highways Investment Manager' on March 23, 2022 in the state of Haryana vide certificate of  incorporation granted by Central Registration Centre, Ministry of Corporate Affairs.

The main aim of incorporation is to carry on business of managing the assets of,  and acting as an investment manager to, trusts or  funds including investment  funds, income or capital funds, venture capital funds, alternative  investment funds, real estate investment trust, infrastructure investment trust, taxable or tax exempt funds, provident, pensions, gratuity and  superannuation funds, charitable funds, trusts or consortium funds, or any other funds, trusts or pooled investment vehicles, by whatever name called, whether in India or outside India, and to manage, organise, handle, or operate, and  administer all such types of trusts, funds and pooled investment vehicles and the assets of such funds or vehicles.

To invest and deal with the funds of infrastructure investment trust in accordance with applicable law, from time to time, in such assets, properties, securities, shares, bullion, or investments or otherwise from time to time and  undertake such other activity as may be required for  the  purpose or in connection with  such investments. To act as representative or nominee of or for any special purpose vehicles, infrastructure investment trusts, real estate investment trusts, or any other portfolio of securities, infrastructure projects and/or assets of any kind, formed or established by the Company.

GR Infraprojects is an integrated road EPC company with experience in design and construction of various road/highway projects across many States in India.