Garuda Construction and Engineering IPO vs Manba Finance IPO

Comparision between Garuda Construction and Engineering IPO and Manba Finance IPO.

IPO Details

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

	Garuda Construction and Engineering IPO	Manba Finance 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	Corpwis Advisors Private Limited	Hem Securities 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 Garuda Construction and Engineering IPO is up to ₹264.10 Cr whereas the issue size of the Manba Finance IPO is up to ₹150.84 Cr. The final issue price of Garuda Construction and Engineering IPO is ₹95.00 per share and of Manba Finance IPO is ₹120.00 per share.

	Garuda Construction and Engineering IPO	Manba Finance IPO
Face Value	₹5 per share	₹10 per share
Issue Price (Lower)	₹90.00 per share	₹114.00 per share
Issue Price (Upper)	₹95.00 per share	₹120.00 per share
Issue Price (Final)	₹95.00 per share	₹120.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	157 shares	125 shares
Fresh Issue Size	1,83,00,000 shares	1,25,70,000 shares
Fresh Issue Size (Amount)	up to ₹173.85 Cr	up to ₹150.84 Cr
OFS Issue Size	95,00,000 shares
OFS Issue Size (Amount)	up to ₹90.25 Cr
Issue Size Total	2,78,00,000 shares	1,25,70,000 shares
Issue Size Total (Amount)	up to ₹264.10 Cr	up to ₹150.84 Cr

IPO Timetable

Garuda Construction and Engineering IPO opens on Oct 08, 2024, while Manba Finance IPO opens on Sep 23, 2024. The closing date of Garuda Construction and Engineering IPO and Manba Finance IPO is Oct 10, 2024, and Sep 25, 2024, respectively.

	Garuda Construction and Engineering IPO	Manba Finance IPO
Anchor Bid Date	Oct 07, 2024	Sep 20, 2024
Issue Open	Oct 08, 2024	Sep 23, 2024
Issue Close	Oct 10, 2024	Sep 25, 2024
Basis Of Allotment (Tentative)	Oct 11, 2024	Sep 26, 2024
Initiation of Refunds (Tentative)	Oct 14, 2024	Sep 26, 2024
Credit of Share (Tentative)	Oct 14, 2024	Sep 27, 2024
Listing date (Tentative)	Oct 15, 2024	Sep 30, 2024
Anchor Lockin End date 1	Nov 10, 2024	Oct 26, 2024
Anchor Lockin End date 2	Jan 09, 2025	Dec 25, 2024

Financials

Garuda Construction and Engineering IPO P/E ratio is 19.49, as compared to Manba Finance IPO P/E ratio of 14.39.

Garuda Construction and Engineering IPO

Manba Finance IPO

Financial

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

Manba Finance Limited Financial Information (Restated)

Manba Finance Limited's revenue increased by 44% and profit after tax (PAT) rose by 90% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	973.75	787.25	561.46
Revenue	191.63	133.32	106.62
Profit After Tax	31.42	16.58	9.74
Net Worth	200.61	168.43	151.74
Reserves and Surplus	162.46	155.54	138.96
Total Borrowing	752.27	595.93	394.4
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

96.81%

100%

Promoter Shareholding (Post-Issue)

67.56%

74.98%

P/E Ratio

19.49

14.39

Market Cap

₹883.90 Cr.

₹602.87 Cr.

ROE

36.14%%

21.36%%

ROCE

46.69%%

19.39%%

Debt/Equity

3.75

EPS

₹4.87

₹8.34

RoNW

30.62%%

15.66%%

Shares Offered

In the Garuda Construction and Engineering IPO retail investors (RII) are offered 97,30,000 shares while in Manba Finance IPO retail investors are offered 97,30,000 shares. Qualified institutional buyers (QIB) are offered 60,04,862 shares in Garuda Construction and Engineering IPO and 25,14,000 shares in Manba Finance IPO.

	Garuda Construction and Engineering IPO	Manba Finance IPO
Anchor Investor Reserveration	78,95,138 shares	37,71,000 shares
Market Maker Reserveration
QIB	60,04,862 shares	25,14,000 shares
NII	41,70,000 shares	18,85,500 shares
RII	97,30,000 shares	43,99,500 shares
Employee	0 shares	0 shares
Others
Total	1,99,04,862 shares	87,99,000 shares

Bids Received (Subscription)

Garuda Construction and Engineering IPO subscribed 7.55x in total, whereas Manba Finance IPO subscribed 224.05x.

	Garuda Construction and Engineering IPO	Manba Finance IPO
QIB (times)	1.24x	148.55x
NII (times)	9.03x	511.62x
Big NII (times)	7.93x	546.56x
Small NII (times)	11.23x	441.73x
RII (times)	10.81x	143.95x
Employee (times)
Other (times)
Total (times)	7.55x	224.05x

Compare with others

Garuda Construction and Engineering IPO	Manba Finance IPO
ACME Solar Holdings IPO	Waaree Energies IPO
Swiggy IPO	Garuda Construction and Engineering IPO
Godavari Biorefineries IPO	Afcons Infrastructure IPO
Deepak Builders & Engineers IPO	Hyundai Motor IPO
Waaree Energies IPO	Diffusion Engineers IPO
Afcons Infrastructure IPO	KRN Heat Exchanger IPO
Hyundai Motor IPO	Northern Arc Capital IPO
Diffusion Engineers IPO	Arkade Developers IPO
Manba Finance IPO	Western Carriers (India) IPO
KRN Heat Exchanger IPO	P N Gadgil Jewellers IPO

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