Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
B.R.Goyal IPO
Price Band
₹128.0–135.0
Issue Size
₹85.21 Cr
Lot Size
1,000 shares
Min Investment
₹135,000
GMP
+₹12.0 (8.89%)
Issue Price
₹135.0
Subject to Sauda
₹9100
Paid only if allotted
B.R.Goyal IPO AI Summary
- B.R.Goyal IPO is listed on BSE SME in the Civil Construction sector.
- Price band: ₹128.0–₹135.0 per share, lot size 1,000 shares (min. investment ₹135,000).
- Subscription window: 07 Jan–09 Jan 2025, listing on 14 Jan 2025.
- Current GMP is +₹12.0 (8.89%), an estimated listing price of ₹147 — unofficial and can change daily.
B.R.Goyal Infrastructure Limited is a civil construction company with a diverse project portfolio and a strong order book. The company is entering the market with an IPO priced at ₹135.0, aiming to raise ₹85.21 Cr. Investors should consider the company's financial performance, market conditions, and their own risk tolerance before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
B.R.Goyal IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 09 Jan 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
B.R.Goyal IPO Grey Market Premium (GMP) Today
GMP
+₹12.0
GMP %
+8.89%
Est. Listing
₹147.0
Updated: 25 Jul 2026 14:15
About the Company
Incorporated in 2005, B.R.Goyal Infrastructure Limited is engaged in the business of construction of infrastructure projects such as roads, highways, bridges and buildings. The company has established an integrated EPC and construction business, supported by a design and engineering team and RMC unit. The RMC unit, located in Indore, has an installed capacity of 1.80 Lakh cubic meters per annum. As of September 30, 2024, the company operates with over 199 construction equipment and vehicles. The company entered the wind energy business by installing a 1.25 MW wind power turbine in Jaisalmer, Rajasthan, commissioned in 2005. The company has successfully executed projects across Madhya Pradesh and is currently executing road construction projects in Maharashtra, Gujarat, Mizoram, Manipur, and Uttar Pradesh after expanding operations. Business is divided into 5 categories: Engineering Procurement Construction (EPC) services: Roads and Highways,Building and other Civil Construction Ready Mix Concrete (RMC) manufacturing: Ready Mixed Concrete (RMC) is produced using computer-controlled operations, ensuring minimal environmental impact in sensitive areas. Wind power generation: The company owns a 1.25 MW windmill in Jaisalmer, generating revenue and units as follows: July 2024 (13.35 INR, 3.97 Lakh KWh), March 2024 (49.38 INR, 14.70 Lakh KWh), March 2023 (33.57 INR, 10.64 Lakh KWh), March 2022 (45.49 INR, 13.85 Lakh KWh). Toll Collection Contract (TCC): TCC projects are spread across Madhya Pradesh, Maharashtra, Gujarat, Punjab, Haryana, Uttar Pradesh, Mizoram and Manipur. Residential Plotting Projects: The company recently launched 2 residential plotting projects named as BRG Hill View - II and BRG Hill View II Extension at Village Sanawadiya, Indore. As on September 30, 2024, the company had 402 permanent employees and 212 employees at our TCCs. Competitive Strengths: Established roads and highways sector focused construction developer Efficient business model Strong Order Book with growing project portfolio. Technology enabled project management capabilities Project management Equipment ownership Strong Workforce Experienced management team
Company Financials (₹ Cr)
As of 2024-07-31
| Period Ended | 31 Jul 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 270.00 | 239.49 | 197.26 | 203.39 |
| Total Income | 156.86 | 596.19 | 353.30 | 228.63 |
| Profit After Tax | 1.94 | 21.89 | 17.34 | 7.56 |
| NET Worth | 128.63 | 126.67 | 104.79 | 87.47 |
| Reserves and Surplus | 111.24 | 117.97 | 96.09 | 78.77 |
| Total Borrowing | 64.11 | 49.47 | 41.64 | 53.40 |
Key Ratios
EPS
₹12.50
NAV
₹145.66
ROE
18.91%
ROCE
19.72%
RoNW
18.91%
P/B Value
0.93
P/E Ratio
10.8
Market Cap
₹321.63 Cr
PAT Margin
3.72%
Debt/Equity
0.50
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Udayshivakumar Infra Ltd | 31.6 | 17.22% | 13.53 | 5.54 | 5.54 |
| Teerth Gopicon Limited | 24.1 | 59.96% | 27.96 | 18.49 | 18.49 |
| B.R.Goyal Infrastructure Limited This IPO | 144.27 | 19.09% | — | 12.57 | 12.57 |
Promoters
Brij Kishore Goyal, Balkrishna Goyal, Gopal Goyal, Rajendra Kumar Goyal, Yash Goyal, Uppal Goyal and B.R.Goyal Holdings Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure requirement 8.02 2 Funding working capital requirements of the Company 42.00 3 Funding expenditure for inorganic growth through acquisitions & other strategic initiatives and General Corporate Purposes 28.19 4 Issue expenses 8.50 Total 86.71
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹228.63 Cr in the year ending March 2022, rising to ₹353.30 Cr by March 2023, and further increasing to ₹596.19 Cr by March 2024. However, the most recent figure for July 2024 shows total income at ₹156.86 Cr, which is a 9-month figure and not directly comparable to the full fiscal years.
Profit Trend
Profit After Tax was ₹7.56 Cr in the year ending March 2022, increasing to ₹17.34 Cr by March 2023, and further rising to ₹21.89 Cr by March 2024. The latest figure for July 2024 shows a profit after tax of ₹1.94 Cr, though this is a 9-month figure and not a full year, so isn't directly comparable.
Valuation
B.R.Goyal Infrastructure Limited has an implied P/E ratio of 10.8 at the issue price, compared to peers trading at a P/E range of 13.53 to 27.96.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO on the stock exchange, compared to its issue price. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy and risk tolerance. It is important to consider the company's growth potential and market conditions before making an investment decision.
Who May Want to Wait
Investors who are risk-averse or prefer stable returns may want to avoid IPOs like this, as they can be subject to market fluctuations and volatility. It is advisable for such investors to consider more established companies with a proven track record.
IPO Timeline, Explained
The IPO opens for subscription on January 7, 2025, and closes on January 9, 2025. Allotment of shares will be done on January 10, 2025, and the shares are expected to be listed on the stock exchange on January 14, 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on various factors including market sentiment, demand for the stock, and overall market conditions. Investors should be aware that there is a risk of not achieving expected gains on the listing day.
This evaluation is generated from B.R.Goyal's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is B.R.Goyal IPO GMP today?
B.R.Goyal IPO GMP today is +₹12.0 (8.89%), indicating an estimated listing price of ₹147. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of B.R.Goyal IPO?
The price band of B.R.Goyal IPO is ₹128.0–₹135.0 per share.
When does B.R.Goyal IPO open and close?
B.R.Goyal IPO opens on 07 January 2025 and closes on 09 January 2025.
When does B.R.Goyal IPO list on the stock exchange?
B.R.Goyal IPO listed on 14 January 2025 at ₹147.0.
What is the lot size for B.R.Goyal IPO?
The lot size for B.R.Goyal IPO is 1000 shares, requiring a minimum investment of ₹135,000.
What is the price band for the IPO?
The price band for the IPO is ₹128.0 to ₹135.0.
What is the minimum investment required?
The minimum investment required is ₹135,000.
What is the lot size for the IPO?
The lot size for the IPO is 1000 shares.
When is the listing date?
The listing date is expected to be January 14, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
07 Jan 2025
Close
09 Jan 2025
Allotment
10 Jan 2025
Listing
14 Jan 2025
Similar IPOs in Civil Construction
Plan Your IPO Investment
Related Articles
Community Sentiment
What are other investors planning for B.R.Goyal?
No votes yet — be the first to share your view.
Sign in to voteDiscussion
User-generated content — not investment advice, and not verified or endorsed by TopFund.
No comments yet — start the discussion.