Afcons Infrastructure IPO vs Garuda Construction and Engineering IPO

Comparision between Afcons Infrastructure IPO and Garuda Construction and Engineering IPO.

IPO Details

Afcons Infrastructure IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Garuda Construction and Engineering IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Afcons Infrastructure IPO	Garuda Construction and Engineering IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	ICICI Securities Limited Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Jefferies India Private Limited Nomura Financial Advisory And Securities (India) Pvt Ltd Nuvama Wealth Management Limited SBI Capital Markets Limited	Corpwis Advisors Private Limited
Registrar	Link Intime India Private Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Afcons Infrastructure IPO is up to ₹5,430.00 Cr whereas the issue size of the Garuda Construction and Engineering IPO is up to ₹264.10 Cr. The final issue price of Afcons Infrastructure IPO is ₹463.00 per share and of Garuda Construction and Engineering IPO is ₹95.00 per share.

	Afcons Infrastructure IPO	Garuda Construction and Engineering IPO
Face Value	₹10 per share	₹5 per share
Issue Price (Lower)	₹440.00 per share	₹90.00 per share
Issue Price (Upper)	₹463.00 per share	₹95.00 per share
Issue Price (Final)	₹463.00 per share	₹95.00 per share
Discount (Retail)
Discount (Employee)	₹44.00 per share
Market Lot Size	32 shares	157 shares
Fresh Issue Size	2,69,97,840 shares	1,83,00,000 shares
Fresh Issue Size (Amount)	up to ₹1,250.00 Cr	up to ₹173.85 Cr
OFS Issue Size	9,02,80,778 shares	95,00,000 shares
OFS Issue Size (Amount)	up to ₹4,180.00 Cr	up to ₹90.25 Cr
Issue Size Total	11,72,78,618 shares	2,78,00,000 shares
Issue Size Total (Amount)	up to ₹5,430.00 Cr	up to ₹264.10 Cr

IPO Timetable

Afcons Infrastructure IPO opens on Oct 25, 2024, while Garuda Construction and Engineering IPO opens on Oct 08, 2024. The closing date of Afcons Infrastructure IPO and Garuda Construction and Engineering IPO is Oct 29, 2024, and Oct 10, 2024, respectively.

	Afcons Infrastructure IPO	Garuda Construction and Engineering IPO
Anchor Bid Date	Oct 24, 2024	Oct 07, 2024
Issue Open	Oct 25, 2024	Oct 08, 2024
Issue Close	Oct 29, 2024	Oct 10, 2024
Basis Of Allotment (Tentative)	Oct 30, 2024	Oct 11, 2024
Initiation of Refunds (Tentative)	Oct 31, 2024	Oct 14, 2024
Credit of Share (Tentative)	Oct 31, 2024	Oct 14, 2024
Listing date (Tentative)	Nov 04, 2024	Oct 15, 2024
Anchor Lockin End date 1	Nov 29, 2024	Nov 10, 2024
Anchor Lockin End date 2	Jan 28, 2025	Jan 09, 2025

Financials

Afcons Infrastructure IPO P/E ratio is 35.08, as compared to Garuda Construction and Engineering IPO P/E ratio of 19.49.

Afcons Infrastructure IPO

Garuda Construction and Engineering IPO

Financial

Afcons Infrastructure Limited Financial Information (Restated Consolidated)

Afcons Infrastructure Limited's revenue increased by 6% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	17,184.58	16,233.64	14,301.25	12,973.77
Revenue	3,213.47	13,646.88	12,844.09	11,269.55
Profit After Tax	91.59	449.76	410.86	357.61
Net Worth	3,662.25	3,575.05	3,155.06	2,691.03
Reserves and Surplus	3,342.52	3,255.22	2,653.75	2,190.11
Total Borrowing	3,365.1	2,455	1,562.82	1,555.2
Amount in ₹ Crore

Garuda Construction and Engineering Limited Financial Information (Restated)

Garuda Construction and Engineering Limited's revenue decreased by -4% and profit after tax (PAT) dropped by -11% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	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
Reserves and Surplus	85.16	81.65	70.13	29.34
Total Borrowing	0.15	0.15	0.19	11.99
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

99.48%

96.81%

Promoter Shareholding (Post-Issue)

67.16%

67.56%

P/E Ratio

35.08

19.49

Market Cap

₹17026.18 Cr.

₹883.90 Cr.

ROE

10.55%%

36.14%%

ROCE

14.89%%

46.69%%

Debt/Equity

0.91

EPS

₹13.20

₹4.87

RoNW

2.50%%

30.62%%

Shares Offered

In the Afcons Infrastructure IPO retail investors (RII) are offered 4,08,58,531 shares while in Garuda Construction and Engineering IPO retail investors are offered 4,08,58,531 shares. Qualified institutional buyers (QIB) are offered 2,33,47,732 shares in Afcons Infrastructure IPO and 60,04,862 shares in Garuda Construction and Engineering IPO.

	Afcons Infrastructure IPO	Garuda Construction and Engineering IPO
Anchor Investor Reserveration	3,50,21,597 shares	78,95,138 shares
Market Maker Reserveration
QIB	2,33,47,732 shares	60,04,862 shares
NII	1,75,10,799 shares	41,70,000 shares
RII	4,08,58,531 shares	97,30,000 shares
Employee	5,96,659 shares	0 shares
Others
Total	8,23,13,721 shares	1,99,04,862 shares

Bids Received (Subscription)

Afcons Infrastructure IPO subscribed 2.77x in total, whereas Garuda Construction and Engineering IPO subscribed 7.55x.

	Afcons Infrastructure IPO	Garuda Construction and Engineering IPO
QIB (times)	3.99x	1.24x
NII (times)	5.31x	9.03x
Big NII (times)	6.63x	7.93x
Small NII (times)	2.67x	11.23x
RII (times)	0.99x	10.81x
Employee (times)	1.77x
Other (times)
Total (times)	2.77x	7.55x

Compare with others

Afcons Infrastructure IPO	Garuda Construction and Engineering IPO
Swiggy IPO	ACME Solar Holdings IPO
Godavari Biorefineries IPO	Swiggy IPO
Deepak Builders & Engineers IPO	Godavari Biorefineries IPO
Waaree Energies IPO	Deepak Builders & Engineers IPO
Garuda Construction and Engineering IPO	Waaree Energies IPO
Hyundai Motor IPO	Afcons Infrastructure IPO
Diffusion Engineers IPO	Hyundai Motor IPO
Manba Finance IPO	Diffusion Engineers IPO
KRN Heat Exchanger IPO	Manba Finance IPO
Northern Arc Capital IPO	KRN Heat Exchanger IPO

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