₹ 14915
₹92- ₹95
157
₹105
10
10 Oct 2024
Download14 Oct 2024
15 Oct 2024
Application Details
The Garuda Construction and Engineering IPO will be open for subscription from October 8, 2024, to October 10, 2024. The face value of each share is ₹5, with a price band set between ₹92 and ₹95 per share. Investors can apply in lots, with a minimum lot size of 157 shares. The total issue size consists of 27.8 million shares, aggregating to ₹264.10 crore. This includes a fresh issue of 18.3 million shares amounting to ₹173.85 crore and an offer for sale of 9.5 million shares, totaling ₹90.25 crore.
The IPO timetable outlines key dates, starting with the opening on Tuesday, October 8, 2024, and closing on Thursday, October 10, 2024. The basis of allotment will be finalized by Friday, October 11, 2024, followed by the initiation of refunds and credit of shares to demat accounts on Monday, October 14, 2024. The shares are expected to be listed on the stock exchanges on Tuesday, October 15, 2024.
Retail investors can apply for a minimum of one lot, consisting of 157 shares, with an investment of ₹14,915. The maximum application for retail investors is 13 lots, which amounts to 2,041 shares at a total value of ₹1,93,895.
About Garuda Construction and Engineering Limited
Company Overview
Garuda Construction and Engineering Limited was founded in 2010 and specializes in providing comprehensive construction services. Originally incorporated as a private limited company, it was converted into a public limited company in September 2023. The company is headquartered in Mumbai, Maharashtra, at 201, A Wing, Fortune 2000 C 3 Block, Bandra Kurla Complex, Bandra (East).
Services Offered
Garuda Construction offers end-to-end civil construction services for residential, commercial, infrastructure, and industrial projects. Additionally, the company provides specialized services such as operations and maintenance (O&M), Mechanical, Electrical, and Plumbing (MEP) services, and finishing works. These services extend to infrastructure and hospitality sectors, making the company a versatile player in the construction industry.
Project Portfolio and Execution
The company has a diverse portfolio of projects, including six residential, two commercial, one industrial, and one infrastructure project, with a total order book value of ₹ 1,408.27 crores as of September 2024. The aggregate area under construction for all projects spans 29,68,873.54 square feet. Notably, seven of these projects have individual contract values exceeding ₹ 100 crore.
Garuda Construction has received a Letter of Intent from the Gorakhpur Development Authority for the construction of the Rapti Nagar Extension Township and Sports City in Gorakhpur, Uttar Pradesh. The company’s projects are spread across multiple geographies, including Maharashtra, Punjab, Karnataka, New Delhi, Tamil Nadu, Rajasthan, and Arunachal Pradesh. It follows an asset-light model by outsourcing the majority of its equipment and labor to third-party contractors for cost-effective project execution.
FAQ
IPO stands for "Initial Public Offering." It's the process through which a privately-held company becomes publicly traded by offering its shares to the general public and listing them on a stock exchange for trading. This allows the company to raise capital from investors and grants individuals and institutions the opportunity to invest in and own a portion of the company.
The life cycle of an IPO, or Initial Public Offering, begins with a company's decision to go public. It involves hiring underwriters, registering with regulatory authorities, determining the IPO price, marketing to investors, and the subscription period where investors place orders for shares. After allocation and listing, shares become publicly tradable, and the company enters the secondary market. Ongoing reporting and corporate governance are crucial as the company continues to operate as a publicly-traded entity. The IPO aims to raise capital for growth and provides investors with opportunities to trade shares in the company.
An IPO (Initial Public Offering) is when a private company goes public by selling shares to the public. Investors buy these shares, giving them ownership in the company. It's a way for companies to raise capital and expand. The process involves underwriters, regulatory filings, setting the IPO price, and marketing to investors. After the IPO, shares can be traded on a stock exchange. IPOs offer opportunities and risks, so investors should research and consider carefully.
"Upcoming IPOs" refers to initial public offerings that have been announced by private companies but have not yet occurred. These are companies that plan to go public in the near future by issuing shares to the public and listing them on a stock exchange. Investors often keep an eye on upcoming IPOs as they represent opportunities to invest in companies at their early stages of public trading, potentially capturing growth potential. These offerings are typically accompanied by significant media and investor attention as they approach their launch dates.