Garuda Construction and Engineering’s IPO is a book-built issue worth Rs 264.10 crores. The offering includes a fresh issue of 1.83 crore shares, amounting to Rs 173.85 crores, and an offer for sale of 0.95 crore shares, aggregating to Rs 90.25 crores.
The IPO opens for subscription on October 8, 2024, and closes on October 10, 2024. The allotment is expected to be finalized on Friday, October 11, 2024, with the listing scheduled on BSE and NSE for Tuesday, October 15, 2024.
Garuda Construction and Engineering operates in the construction sector. The company provides a wide range of civil construction services for residential, commercial, residential cum commercial, infrastructure, and industrial projects. They also offer additional services for infrastructure and hospitality projects.
The price band for the Garuda Construction and Engineering IPO is set between ₹92 and ₹95 per share. The minimum lot size is 157 shares, requiring a minimum investment of ₹14,915 for retail investors. For small non-institutional investors (sNII), the minimum lot size is 14 lots (2,198 shares), amounting to ₹208,810, and for big non-institutional investors (bNII), it is 68 lots (10,676 shares), amounting to ₹1,014,220.
Corpwis Advisors Private Limited is the book-running lead manager for the IPO, while Link Intime India Private Ltd serves as the registrar.
Garuda Construction and Engineering IPO Details:
| Company Name | Garuda Construction and Engineering Limited |
| Sector | Construction |
| IPO Type | Mainboard |
| IPO Open date | 08th Oct 2024 |
| IPO Close date | 10th Oct 2024 |
| OFS | |
| Listing Exchanges | NSE, BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Garuda Construction and Engineering IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 157 | 14,915 |
| sHNI (Min) | 14 | 2198 | 2,08,810 |
| bHNI (Min) | 68 | 10676 | 10,14,220 |
Garuda Construction and Engineering IPO Timeline:
| IPO Open Date | 08th Oct 2024 |
| IPO Close Date | 10th Oct 2024 |
| Basis of Allotment | 11th Oct 2024 |
| Refund Initiation Date | 14th Oct 2024 |
| Shares Credit to Demat | 11th Oct 2024 |
| Listing Date | 15th Oct 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Garuda Construction and Engineering’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Construction Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Garuda Construction and Engineering and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
