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Garuda Construction and Engineering IPO is a book built issue of Rs 264.10 crores. The issue is a combination of fresh issue of 1.83 crore shares aggregating to Rs 173.85 crores and offer for sale of 0.95 crore shares aggregating to Rs 90.25 crores.
Garuda Construction and Engineering IPO opens for subscription on October 8, 2024 and closes on October 10, 2024. The allotment for the Garuda Construction and Engineering IPO is expected to be finalized on Friday, October 11, 2024. Garuda Construction and Engineering IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, October 15, 2024.
Garuda Construction and Engineering IPO price band is set at ₹92 to ₹95 per share. The minimum lot size for an application is 157 Shares. The minimum amount of investment required by retail investors is ₹14,915. The minimum lot size investment for sNII is 14 lots (2,198 shares), amounting to ₹208,810, and for bNII, it is 68 lots (10,676 shares), amounting to ₹1,014,220.
Corpwis Advisors Private Limited is the book running lead manager of the Garuda Construction and Engineering IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Garuda Construction and Engineering IPO RHP for detailed information.
| IPO Date | October 8, 2024 to October 10, 2024 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | ₹92 to ₹95 per share |
| Lot Size | 157 Shares |
| Total Issue Size | 27,800,000 shares (aggregating up to ₹264.10 Cr) |
| Fresh Issue | 18,300,000 shares (aggregating up to ₹173.85 Cr) |
| Offer for Sale | 9,500,000 shares of ₹5 (aggregating up to ₹90.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 74,741,742 |
| Share holding post issue | 93,041,742 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.03% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Offer |
Garuda Construction and Engineering IPO opens on October 8, 2024, and closes on October 10, 2024.
| IPO Open Date | Tuesday, October 8, 2024 |
| IPO Close Date | Thursday, October 10, 2024 |
| Basis of Allotment | Friday, October 11, 2024 |
| Initiation of Refunds | Monday, October 14, 2024 |
| Credit of Shares to Demat | Monday, October 14, 2024 |
| Listing Date | Tuesday, October 15, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 10, 2024 |
Investors can bid for a minimum of 157 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 157 | ₹14,915 |
| Retail (Max) | 13 | 2041 | ₹193,895 |
| S-HNI (Min) | 14 | 2,198 | ₹208,810 |
| S-HNI (Max) | 67 | 10,519 | ₹999,305 |
| B-HNI (Min) | 68 | 10,676 | ₹1,014,220 |
| Lot Size Calculator | |||
Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited and Makindian Township Private Limited are the company's promoters.
| Share Holding Pre Issue | 96.81% |
| Share Holding Post Issue |
Garuda Construction and Engineering Limited was founded in 2010 and is a construction company.
The company provides comprehensive construction services for residential, commercial, residential/commercial, infrastructure, and industrial projects, as well as additional services for infrastructure and hospitality projects. The company also provides services such as operation and maintenance (O&M) and mechanical, electrical and plumbing (MEP) services as well as finishing works as part of construction services.
Strengths:
As of September 28, 2024, the company had 65 permanent employees.
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 | ||||||||||||||||||||||||||||||||||||||||
The market capitalization of Garuda Construction and Engineering IPO is Rs 883.9 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 36.14% |
| ROCE | 46.69% |
| 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 Company proposes to utilize the funds being raised to fund 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
Website: https://garudaconstructionengineering.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: garudaconstructions.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Garuda Construction and Engineering IPO is a main-board IPO of 27,800,000 equity shares of the face value of ₹5 aggregating up to ₹264.10 Crores. The issue is priced at ₹92 to ₹95 per share. The minimum order quantity is 157 Shares.
The IPO opens on October 8, 2024, and closes on October 10, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Garuda Construction and Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Garuda Construction and Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Garuda Construction and Engineering IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Garuda Construction and Engineering IPO opens on October 8, 2024 and closes on October 10, 2024.
Garuda Construction and Engineering IPO lot size is 157 Shares, and the minimum amount required is ₹14,915.
You can apply in Garuda Construction and Engineering IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Garuda Construction and Engineering IPO will be done on Friday, October 11, 2024, and the allotted shares will be credited to your demat account by Monday, October 14, 2024. Check the Garuda Construction and Engineering IPO allotment status.
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