Garuda Construction and Engineering Limited IPO 2024: An Insightful Overview for Investors
Garuda Construction and Engineering Limited is set to make its debut in the public markets with an initial public offering (IPO) that has already garnered significant attention. Founded in 2010, Garuda is a civil construction company that provides end-to-end construction services for various sectors, including residential, commercial, and infrastructure projects.
The Garuda Construction and Engineering Limited IPO aims to raise approximately ₹264.10 crore through a combination of fresh issue and offer-for-sale shares. The proceeds from this IPO will primarily be used for working capital requirements and general corporate purposes, including potential acquisitions. The company has set a price band for its shares and has already received interest from various investor segments.
IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | October 8, 2024 |
| IPO Close Date | October 10, 2024 |
| Price Band | ₹92 to ₹95 per share |
| Lot Size | 157 shares |
| Total Issue Size | ₹264.10 crore |
| Fresh Issue | ₹173.85 crore |
| Offer for Sale | ₹90.25 crore |
| Issue Type | Book Built Issue |
Reservation Details
| Category | Percentage of Offer |
|---|---|
| Qualified Institutional Buyers (QIB) | 50% |
| Non-Institutional Investors (NII) | 15% |
| Retail Investors (RIIs) | 35% |
Key Dates
| Event | Date |
|---|---|
| Basis of Allotment | October 11, 2024 |
| Initiation of Refunds | October 14, 2024 |
| Credit of Shares to Demat | October 15, 2024 |
| Listing Date | October 15, 2024 |
Financial Overview
| Financial Metric | Value (₹ Cr) |
|---|---|
| Revenue (FY24) | 154.47 |
| Revenue (FY23) | 161.02 |
| Profit After Tax (FY24) | 36.44 |
| Profit After Tax (FY23) | 40.80 |
| Net Worth (FY24) | 119.01 |
Grey Market Premium (GMP)
| Date | GMP (₹) |
|---|---|
| October 2, 2024 | Nil |
As of the latest updates, the grey market premium for Garuda Construction shares remains nil following the announcement of the price band. This indicates that investor sentiment is currently cautious; however, GMPs can fluctuate rapidly based on market conditions and investor interest leading up to the IPO.
IPO Prospectus
- IPO DRHP: Click Here
- IPO RHP: Click Here
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