Upcoming IPO: BR Goyal Infrastructure gets BSE nod for SME IPO launch

Upcoming SME IPO in 2024: BR Goyal Infrastructure has received in-principle approval from the Bombay Stock Exchange (BSE) for its SME initial public offering (IPO). 

The IPO will consist of a fresh issue of 64,32,000 equity shares, each valued at ₹10. The funds raised will be directed toward capital expenditure, working capital requirements, and other strategic growth initiatives. Beeline Capital Advisors Private Limited will serve as the book-running lead manager for the issue, with Link Intime India Private Limited as the registrar.

About the BR Goyal Infrastructure

BR Goyal Infrastructure Limited is a key player in the infrastructure sector. Known for its diverse operations, the company specialises in civil construction, ready-mix concrete (RMC) production, wind energy, toll management, and residential plotting.

With a significant footprint across multiple Indian states, the company serves government departments through its expertise in EPC (Engineering, Procurement, and Construction) projects for roads, highways, industrial parks, and housing projects. It also handles Hybrid Annuity Model (HAM) projects.

B.R. Goyal ensures a consistent supply of high-quality concrete for its projects through a dedicated ready-mix concrete (RMC) plant in Indore. Additionally, the company operates a 1.25 MW wind power turbine in Jaisalmer, supported by a 20-year Power Purchase Agreement (PPA) with Ajmer Vidyut Vitran Nigam Limited. Additionally, it manages toll services and undertakes residential development projects.

Financial performance of BR Goyal Infrastructure

BR Goyal has demonstrated remarkable growth in recent years. In FY24, its revenue rose to ₹58,875.91 lakh, a substantial increase from ₹22,488.26 lakh in FY22. Consolidated EBITDA grew to ₹3,245.58 lakh, and PAT more than doubled to ₹2,188.91 lakh from ₹756.09 lakh over the same period.

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