Garuda Construction and Engineering IPO: With a subscription window from October 8–10, 2024, Garuda Construction and Engineering Limited hopes to generate Rs 264.10 crores through its initial public offering (IPO). The offering for sale is accompanied by new shares in the issue. The money will be used for possible acquisitions, business expenses, and working capital. On October 15, the IPO is anticipated to list.
Three-quarters of the issuance will go to retail investors, half will go to eligible institutional buyers, and the remaining fifteen percent will go to non-institutional investors. The funds would be used by the company for general corporate reasons, such as possible acquisitions, and to meet its working capital requirements, totaling Rs 100 crore.
Garuda Construction and Engineering IPO Details
| IPO Open Date | October 8, 2024 |
| IPO Close Date | October 10, 2024 |
| Listing Date | Tuesday, October 15, 2024 |
| 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 |
Garuda Construction and Engineering Financials
| FY2024 | |
| Revenue | 154.47 |
| Profit before tax | 49.65 |
| Net profit | 36.44 |
| ROE | 36.14% |
| ROCE | 46.69% |
| RoNW | 30.62% |
| P/BV | 5.97 |
| PAT Margin (%) | 23.63 |
Garuda Construction IPO GMP today
The current IPO GMP for Garuda Construction and Engineering is +22. This suggests that on Monday, the share price of Garuda Construction was trading at a premium of ₹22 on the gray market, as per investorgain.com. Taking into account the top limit of the IPO price range and the existing premium in the secondary market, the expected listing price of Garuda Construction shares is ₹117 per share, signifying a 23.16% increase over the ₹95 IPO price.
About the Company – Garuda Construction and Engineering
Mumbai-based civil engineering and construction company. For projects involving homes, businesses, infrastructure, infrastructure with commercial space, and industry, we offer end-to-end civil construction services. Together with construction services, we also offer services including finishing work, mechanical, electrical, and plumbing (MEP) services, and operations and maintenance (O&M).
