Garuda Construction and Engineering Limited IPO is a book-built issue worth Rs 264.10 crores. The issue involves a fresh issue of 1.83 crore shares, totalling Rs 173.85 crores, and an offer for sale of 0.95 crore shares, totalling Rs 90.25 crores.
Garuda Construction And Engineering limited IPO Details
Garuda Construction and Engineering limited IPO will open for subscription on October 8, 2024, close on October 10, 2024, and the allotment is expected to be finalized on October 11, 2024.
Garuda Construction and Engineering Limited IPO is set to be listed on both BSE and NSE, with a tentative listing date set for October 15, 2024.
Garuda Construction and Engineering IPO price range is ₹92 to ₹95 per share, with a minimum lot size of 157 shares required for application.
Retail investors need a minimum investment of ₹14,915, while sNII requires 14 lots (2,198 shares) and bNII requires 68 lots (10,676 shares), totalling ₹1,014,220.
Corpwis Advisors Private Limited is the book running lead manager for the Garuda Construction and Engineering IPO, while Link Intime India Private Ltd serves as the registrar.
Please refer to Garuda Construction and Engineering Limited IPO RHP for detailed information.
- IPO Date: October 8, 2024 to October 10, 2024
- Listing Date: 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 (aggregating up to ₹90.25 Cr)
- Issue Type: Book Built Issue IPO
- Listing At: BSE, NSE
- Pre-Issue Shareholding: 74,741,742 shares
- Post-Issue Shareholding: 93,041,742 shares
Garuda Construction And Engineering limited IPO Date:
Garuda Construction and Engineering IPO is scheduled to open on October 8, 2024, and close 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
Garuda Construction And Engineering IPO Price:
Retail investors and HNI can bid for a minimum of 157 shares, with maximum investment in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 157 | ₹14,915 |
| Retail (Max) | 13 | 2,041 | ₹193,895 |
| SHNI (Min) | 14 | 2,198 | ₹208,810 |
| SHNI (Max) | 67 | 10,519 | ₹999,305 |
| BHNI (Min) | 68 | 10,676 | ₹1,014,220 |
Garuda Construction And Engineering IPO Objectives
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects : –
- Working capital requirements;
- General Corporate Purpose and Unidentified inorganic acquisitions
Garuda construction and engineering limited Financial Highlights
Garuda Construction and Engineering Limited experienced a 4% decrease in revenue and an -11% decrease in profit after tax between 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 |
key performance indicators :
As of March 31, 2024, Garuda Construction and Engineering’s IPO has a market capitalization of Rs 883.9 Cr.
| KPI | Values |
|---|---|
| ROE | 36.14% |
| ROCE | 46.69% |
| RoNW | 30.62% |
| P/BV | 5.97 |
| PAT Margin (%) | 23.63% |
Garuda Construction and Engineering Limited IPO Reservation
- QIB Shares Offered: Not more than 50.00% of the Net Offer.
- Retail Shares Offered: Not less than 35.00% of the Net Issue.
- NII (HNI) Shares Offered: Not less than 15.00% of the Net Offer.
About Garuda construction and engineering limited
Garuda Construction and Engineering Limited, established in 2010, is a renowned construction company.
The company offers comprehensive construction services for residential, commercial, infrastructure, and industrial projects, as well as additional services for infrastructure and hospitality projects. It also provides operation and maintenance, mechanical, electrical, and plumbing services, and finishing works.
Strengths:
- The company is primarily focused on residential and commercial building construction, but is also expanding into industrial and infrastructure projects.
- The company has a proven track record in construction projects, including Golden Chariot Vasai Hotel & Spa and Golden Chariot Boutique Hotel. Since 2017, it has completed two residential projects in MMR and focused on civil engineering in MMR, Karnataka, and Tamil Nadu.
- Strong project management and execution capabilities
- The company demonstrated strong financial performance, with Revenue from Operations reaching Rs. 1,187.50 Lacs for the period ending April 30, 2024, Rs. 15,417.83 Lacs in FY 2024, and Rs. 16068.76 Lacs in FY 2023.
- As of September 28, 2024, the company’s order book grew to Rs. 1,40,827.44 lacs, with ongoing and pending projects across MMR, Arunachal Pradesh, Karnataka, Rajasthan, and Punjab, ensuring the company maintains its growth momentum and reputation.
- The promoter, directors, and management team are experienced professionals.
- As of September 28, 2024, the company had 65 permanent employees, according to chittorgarh.com
Garuda Construction and Engineering Limited IPO Promoter Holding
The company is promoted by Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited, and Makindian Township Private Limited, with a pre-issue share holding of 96.81%.
