Garuda Construction and Engineering IPO vs Waaree Energies IPO

Comparision between Garuda Construction and Engineering IPO and Waaree Energies IPO.

IPO Details

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

	Garuda Construction and Engineering IPO	Waaree Energies 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	Axis Capital Limited Iifl Securities Ltd Jefferies India Private Limited Nomura Financial Advisory And Securities (India) Pvt Ltd SBI Capital Markets Limited Intensive Fiscal Services Private Limited Iti Capital Ltd
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 Waaree Energies IPO is up to ₹4,321.44 Cr. The final issue price of Garuda Construction and Engineering IPO is ₹95.00 per share and of Waaree Energies IPO is ₹1,503.00 per share.

	Garuda Construction and Engineering IPO	Waaree Energies IPO
Face Value	₹5 per share	₹10 per share
Issue Price (Lower)	₹90.00 per share	₹1,427.00 per share
Issue Price (Upper)	₹95.00 per share	₹1,503.00 per share
Issue Price (Final)	₹95.00 per share	₹1,503.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	157 shares	9 shares
Fresh Issue Size	1,83,00,000 shares	2,39,52,095 shares
Fresh Issue Size (Amount)	up to ₹173.85 Cr	up to ₹3,600.00 Cr
OFS Issue Size	95,00,000 shares	48,00,000 shares
OFS Issue Size (Amount)	up to ₹90.25 Cr	up to ₹721.44 Cr
Issue Size Total	2,78,00,000 shares	2,87,52,095 shares
Issue Size Total (Amount)	up to ₹264.10 Cr	up to ₹4,321.44 Cr

IPO Timetable

Garuda Construction and Engineering IPO opens on Oct 08, 2024, while Waaree Energies IPO opens on Oct 21, 2024. The closing date of Garuda Construction and Engineering IPO and Waaree Energies IPO is Oct 10, 2024, and Oct 23, 2024, respectively.

	Garuda Construction and Engineering IPO	Waaree Energies IPO
Anchor Bid Date	Oct 07, 2024	Oct 18, 2024
Issue Open	Oct 08, 2024	Oct 21, 2024
Issue Close	Oct 10, 2024	Oct 23, 2024
Basis Of Allotment (Tentative)	Oct 11, 2024	Oct 24, 2024
Initiation of Refunds (Tentative)	Oct 14, 2024	Oct 25, 2024
Credit of Share (Tentative)	Oct 14, 2024	Oct 25, 2024
Listing date (Tentative)	Oct 15, 2024	Oct 28, 2024
Anchor Lockin End date 1	Nov 10, 2024	Nov 22, 2024
Anchor Lockin End date 2	Jan 09, 2025	Jan 21, 2025

Financials

Garuda Construction and Engineering IPO P/E ratio is 19.49, as compared to Waaree Energies IPO P/E ratio of 30.87.

Garuda Construction and Engineering IPO

Waaree Energies 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

Waaree Energies Limited Financial Information (Restated Consolidated)

Waaree Energies Limited's revenue increased by 69.56% and profit after tax (PAT) rose by 154.73% 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	11,989.48	11,313.73	7,419.92	2,237.40
Revenue	3,496.41	11,632.76	6,860.36	2,945.85
Profit After Tax	401.13	1,274.38	500.28	79.65
Net Worth	4,471.71	4,074.84	1,826.02	427.13
Reserves and Surplus	4,221.69	3,825.00	1,594.92	230.43
Total Borrowing	261.24	317.32	273.48	313.08
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

96.81%

71.80%

Promoter Shareholding (Post-Issue)

67.56%

64.30%

P/E Ratio

19.49

30.87

Market Cap

₹883.90 Cr.

₹42939.36 Cr.

ROE

36.14%%

8.79%%

ROCE

46.69%%

9.45%%

Debt/Equity

0.06

EPS

₹4.87

₹48.69

RoNW

30.62%%

8.81%%

Shares Offered

In the Garuda Construction and Engineering IPO retail investors (RII) are offered 97,30,000 shares while in Waaree Energies 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 56,63,925 shares in Waaree Energies IPO.

	Garuda Construction and Engineering IPO	Waaree Energies IPO
Anchor Investor Reserveration	78,95,138 shares	84,95,887 shares
Market Maker Reserveration
QIB	60,04,862 shares	56,63,925 shares
NII	41,70,000 shares	42,47,945 shares
RII	97,30,000 shares	99,11,869 shares
Employee	0 shares	4,32,468 shares
Others
Total	1,99,04,862 shares	2,02,56,207 shares

Bids Received (Subscription)

Garuda Construction and Engineering IPO subscribed 7.55x in total, whereas Waaree Energies IPO subscribed 79.44x.

	Garuda Construction and Engineering IPO	Waaree Energies IPO
QIB (times)	1.24x	215.03x
NII (times)	9.03x	65.25x
Big NII (times)	7.93x	71.32x
Small NII (times)	11.23x	53.10x
RII (times)	10.81x	11.27x
Employee (times)		5.45x
Other (times)
Total (times)	7.55x	79.44x

Compare with others

Garuda Construction and Engineering IPO	Waaree Energies IPO
ACME Solar Holdings IPO	Sagility India 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
Afcons Infrastructure IPO	Garuda Construction and Engineering 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

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