Garuda Construction IPO
GMP, Subscription, Price, Dates & Financial Details
Founded in 2010, Garuda Construction and Engineering Limited is a growing civil construction company, reporting revenue from operations of ₹1,187.50 lakhs for the period ended April 30, 2024, and ₹15,417.83 lakhs, ₹16,068.76 lakhs, and ₹7,702.08 lakhs for Fiscal 2024, Fiscal 2023, and Fiscal…
Open Date
Tue, 08 Oct 2024
Close Date
Thu, 10 Oct 2024
Price Band
₹ 92 – 95
Lot Size
157
Issue Size
₹ 264.10 Cr
Minimum Investment
₹ 14,915 (157 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Garuda Construction IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹264.10 Crore, comprising a fresh issue of 1.83 Crore equity shares aggregating to ₹173.85 Crore and an offer for sale (OFS) of 95.00 Lakh equity shares aggregating to ₹90.25 Crore by the existing shareholders.
The Garuda Construction IPO remained open for subscription from October 08, 2024, to October 10, 2024. The basis of allotment was finalized on October 11, 2024, and the company's shares were listed on the NSE and BSE on October 15, 2024.
The company had fixed the price band at ₹92 to ₹95 per share, with a lot size of 157 shares. Retail investors were required to make a minimum investment of ₹14,915 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. Corpwis Advisors Private Limited IPO Lead Manager acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Garuda Construction and Engineering Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Garuda Construction IPO Timeline (Tentative)
- IPO Open Date
- Tue, 08 Oct 24
- IPO Close Date
- Thu, 10 Oct 24
- Basis of Allotment
- Fri, 11 Oct 24
- Initiation of Refunds
- Mon, 14 Oct 24
- Credit of Shares to Demat
- Mon, 14 Oct 24
- Listing Date
- Tue, 15 Oct 24 — NSE & BSE
Open Date
08 October 2024
Close Date
10 October 2024
Basis Of Allotment
11 October 2024
Listing Date
15 October 2024
IPO Subscription
Check Live Subscription →The Garuda Construction IPO has received bids for 15,03,47,125 shares against 1,99,04,862 shares offered, resulting in an overall subscription of 7.55x. the NII category is subscribed 9.03x, Retail Investors 10.81x, and QIBs 1.24x. Within the NII category, BNII is subscribed 7.93x, while SNII is subscribed 11.23x.
QIB
1.24x
NII
9.03x
BNII
7.93x
SNII
11.23x
RII
10.81x
Total
7.55x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 97,30,000 shares, representing 35% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 60,04,862 shares (21.6%), while Non-Institutional Investors (NIIs) receive 41,70,000 shares (15%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 7,895,138 | 28.4% |
| Qualified Institutions | 6,004,862 | 21.6% |
| Non-Institutional | 4,170,000 | 15% |
| BNII | 2,780,000 | 10% |
| SNII | 1,390,000 | 5% |
| Retail Investors | 9,730,000 | 35% |
| Total | 27,800,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 30 Apr 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 234.84 | 228.49 | 176.35 | 111.03 |
| Revenue | 11.88 | 154.47 | 161.02 | 77.03 |
| Profit After Tax | 3.5 | 36.44 | 40.8 | 18.78 |
| Net Worth | 122.51 | 119.01 | 82.61 | 41.79 |
| Reserve & Surplus | 85.16 | 81.65 | 70.13 | 29.34 |
| Total Borrowings | 0.15 | 0.15 | 0.19 | 11.99 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Garuda Construction and Engineering Limited KPI Information
| Particular | KPI as of March 31, 2024. |
|---|---|
| ROE % | 36.14 |
| ROCE % | 46.69 |
| RoNW % | 30.62 |
| PbW | 5.97 |
| Pat Margin % | 23.63 |
Peers Comparison
No Peer Comparision Available
About Garuda Construction and Engineering Limited
Founded in 2010, Garuda Construction and Engineering Limited is a growing civil construction company, reporting revenue from operations of ₹1,187.50 lakhs for the period ended April 30, 2024, and ₹15,417.83 lakhs, ₹16,068.76 lakhs, and ₹7,702.08 lakhs for Fiscal 2024, Fiscal 2023, and Fiscal 2022, respectively. We provide comprehensive civil construction services for residential, commercial, mixed-use, infrastructure, and industrial projects, along with additional services for hospitality projects.
Companay's civil construction services encompass the building of residential, hospitality, industrial, infrastructural, and commercial structures, including concrete and composite steel buildings essential for our projects. Our end-to-end civil construction process begins with detailed route surveys, design and engineering, resource mobilization, micro-scheduling of construction activities, obtaining necessary permissions, conducting soil and water tests, and hiring contractors and manpower.
Additionally, Garuda Construction and Engineering Limited is involved in sectors related to civil construction and services. It also offer operations and maintenance services (“O&M”), Mechanical, Electrical, and Plumbing (“MEP”) services, and finishing works as part of our comprehensive construction solutions.
Garuda Construction IPO Promoters
Company's promoters
- Pravinkumar Brijendra Kumar Agarwal
- PKH Ventures Limited
- Makindian Township Private Limited
Promoters Holding
Holding Pre Issue
96.81%
Holding Post Issue
0.00%
Garuda Construction IPO Objective
The Company proposes to utilize the funds being raised to fund the following objectives:
- Working Capital Requirements
- General Corporate Expenses and Unidentified Inorganic Acquisitions
Garuda Construction and Engineering Limited Address / Contact Details
Garuda Construction and Engineering Limited
201, A Wing, Fortune 2000 C -3 Block,
Bandra Kurla Complex, Bandra
(East), Mumbai 400 051, Maharashtra
Phone: +91 22 79635174
Email: compliance@garudaconstructionengineering.com
Website: https://garudaconstructionengineering.com
IPO Snapshot
Garuda Construction IPO Lot Size
The Garuda Construction IPO has a lot size of 157 shares. Retail investors require a minimum investment of ₹14,915 by applying for 1 lot (157 shares). The maximum application allowed for the retail category is 13 lots (2,041 shares), requiring an investment of ₹1,93,895.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 157 | 14,915.00 |
| Retail (Max) | 13 | 2,041 | 193,895.00 |
| S-HNI (Min) | 68 | 10,676 | 1,014,220.00 |
| S-HNI (Max) | 67 | 10,519 | 999,305.00 |
| B-HNI (Min) | 68 | 10,676 | 1,014,220.00 |
Issue Reservation
- Anchor Investors — 28.4%
- QIB — 21.6%
- NII — 15%
- RII — 35%
Book Running Lead Managers
- Corpwis Advisors Private Limited IPO Lead Manager
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Garuda Construction IPO?
Garuda Construction IPO is a Book-building IPO with a total issue size of ₹264.1 crore. The Garuda Construction IPO price band is ₹92 to 95 per share. The Garuda Construction IPO subscription opens on Tue, Oct 8, 2024, and closes on Thu, Oct 10, 2024. The Garuda Construction IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the Garuda Construction IPO.
When will the Garuda Construction IPO open for subscription?
The Garuda Construction IPO opens on Tue, Oct 8, 2024 and closes on Thu, Oct 10, 2024
What is Garuda Construction IPO Price Band?
Garuda Construction IPO Price Band is ₹92 to 95 per share.
What is Garuda Construction IPO Lot Size?
Garuda Construction IPO lot size is 157 shares, Retail investors need a minimum investment of ₹14915 based on the upper price band
What is the minimum investment for Garuda Construction IPO?
The minimum investment for Garuda Construction IPO is ₹14915, based on one lot of 157 shares at the upper price band of ₹95 per share.
How to apply for Garuda Construction IPO?
Investors can apply for the Garuda Construction IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Thu, Oct 10, 2024. The application amount remains blocked until the Garuda Construction IPO allotment is finalized.
What is Garuda Construction IPO Issue Size?
Garuda Construction IPO issue size is ₹264.1 crores.
What is the Garuda Construction IPO Allotment Date?
Garuda Construction IPO allotment date is Fri, Oct 11, 2024.
Who is the Garuda Construction IPO Registrar?
The registrar for Garuda Construction IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Garuda Construction IPO allotment status, refund processing, and other IPO-related information.
What is the Garuda Construction IPO GMP?
The Garuda Construction IPO GMP (Grey Market Premium) is ₹5 as of Tue, Oct 15, 2024. Based on the upper price band of ₹95 per share, the estimated Garuda Construction IPO listing price is ₹100, indicating a potential listing gain of approximately 5.26% over the issue price.
Who is the Garuda Construction IPO Lead Manager?
The book-running lead managers (BRLMs) for the Garuda Construction IPO are Corpwis Advisors Private Limited IPO Lead Manager. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Garuda Construction IPO Red Herring Prospectus (RHP).