The Garuda Construction and Engineering Limited IPO is a book-built issue worth ₹264.10 crores. It includes a fresh issue of 1.83 crore shares raising ₹173.85 crores and an offer for sale of 0.95 crore shares totaling ₹90.25 crores.
The IPO will open for subscription from October 8, 2024, to October 10, 2024. The share allotment is expected to be finalized on Friday, October 11, 2024, and the company will be listed on the BSE and NSE, with a tentative listing date of Tuesday, October 15, 2024.
Garuda Construction and Engineering Limited IPO Details
| 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 |
| Shareholding pre issue | 74,741,742 |
| Shareholding post issue | 93,041,742 |
Garuda Construction and Engineering IPO Timeline
| 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 |
Garuda IPO Lot Size
| 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 |
Garuda IPO Promoter Holding
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 |
About Garuda Construction and Engineering Limited
Garuda Construction and Engineering Limited, founded in 2010, is a construction company that offers a wide range of services. These include construction for residential, commercial, mixed-use (residential/commercial), infrastructure, and industrial projects. Additionally, they provide services for infrastructure and hospitality projects, along with operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, and finishing work.
Strengths:
- Focused business approach: The company mainly specializes in building residential and commercial structures and is now expanding into industrial and infrastructure projects.
- Proven track record: Garuda has a history of successfully completing various projects, such as the Golden Chariot Vasai Hotel & Spa and Golden Chariot Boutique Hotel in 2015. Since 2017, they have completed two residential projects in the Mumbai Metropolitan Region (MMR). From 2010 to 2017, they focused on civil engineering projects across MMR, Karnataka, and Tamil Nadu.
Garuda Company Financials
| 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 |
FAQ :
Garuda Construction and Engineering Limited IPO date
The IPO will open for subscription from October 8, 2024, to October 10, 2024. The share allotment is expected to be finalized on Friday, October 11, 2024, and the company will be listed on the BSE and NSE, with a tentative listing date of Tuesday, October 15, 2024
Garuda Construction and Engineering Limited IPO Price and Lot Size?
1 Lot = 157 Shares and the Price per lot is 14444/-
What is the Listing Date of Garuda IPO?
The company is set to be listed on the BSE and NSE, with a provisional listing date of Tuesday, October 15, 2024.
