The IPO of Garuda Construction and Engineering is a book-built issue amounting to ₹264.10 crores. It consists of a fresh issue of 1.83 crore shares aggregating to ₹173.85 crores and an offer for sale of 0.95 crore shares aggregating to ₹90.25 crores.
Subscription for the IPO will open on October 8, 2024, and will close on October 10, 2024. The finalization of allotment is expected to occur on October 11, 2024. The listing of shares on BSE and NSE is tentatively scheduled for October 15, 2024.
The price band has been set between ₹92 and ₹95 per share. The minimum lot size for application is 157 shares, with retail investors required to invest a minimum of ₹14,915. For sNII, a minimum of 14 lots (2,198 shares), amounting to ₹208,810, is required, while for bNII, 68 lots (10,676 shares) are needed, amounting to ₹1,014,220.
| IPO Date | October 8, 2024 to October 10, 2024 |
| Listing Date | October 15, 2024 |
| Face Value | ₹ 5 / Share |
| Price Band | ₹ 92 to ₹ 95 / Share |
| Lot Size | 157 Shares |
| Total Issue Size | ₹264.10 Cr |
| Fresh Issue | ₹173.85 Cr |
| Offer for Sale | ₹90.25 Cr |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 74,741,742 |
| Share holding post issue | 93,041,742 |
| Market Maker portion |
Garuda Construction and Engineering Limited IPO opens on October 8, 2024, and closes on October 10, 2024.
| IPO Open Date | October 8, 2024 |
| IPO Close Date | October 10, 2024 |
| Basis of Allotment | October 11, 2024 |
| Initiation of Refunds | October 14, 2024 |
| Credit of Shares to Demat | October 14, 2024 |
| Listing Date | October 15, 2024 |
| Cut-off time for UPI mandate confirmation | October 10, 2024 |
Bids for a minimum of 157 shares and in multiples thereafter can be placed by investors. The table below shows the minimum and maximum investment amounts for retail investors and HNIs, both in terms of shares and total investment.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 157 | Rs.14,915 |
| Retail (Max) | 13 | 2,041 | Rs.193,895 |
| S-HNI (Min) | 14 | 2,198 | Rs.208,810 |
| S-HNI (Max) | 67 | 10,519 | Rs.999,305 |
| B-HNI (Min) | 68 | 10,676 | Rs.1,014,220 |
| HNI (Min) |
| Share Holding Pre Issue | 96.81% |
| Share Holding Post Issue |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
|
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
Garuda Construction and Engineering Limited, established in 2010, operates as a construction company. It offers a wide range of construction services across residential, commercial, residential/commercial, infrastructure, and industrial projects. Additionally, the company provides services for infrastructure and hospitality projects, along with operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, as well as finishing works as part of its construction offerings.
| KPI | Values |
|---|---|
| ROE | 36.14% |
| ROCE | 46.69% |
| Debt/Equity | |
| RoNW | 30.62% |
| P/BV | 5.97 |
| PAT Margin (%) | 23.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.87 | 4.52 |
| P/E (x) | 19.49 | 21.03 |
The funds being raised are proposed to be utilized by the company for the following objectives:
Garuda Construction and Engineering Limited 201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051 Phone: +91 22 79635174 Email: compliance@garudaconstructionengineering.com |
Phone: +91-22-4918 6270 Email: garudaconstructions.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
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