Garuda Construction and Engineering IPO
IPO Listing Details
- Listing Date
15 Oct 2024
- Listing Price
₹103.20
- Listing Change
8.63%
- Last Traded Price
₹80.50
IPO Details
- Open Date
08 Oct 2024
- Close Date
10 Oct 2024
- IPO
Price Range
₹ 92 to ₹ 95
- IPO
Size
₹ 264.10 Cr
- Listing Exchange
BSE, NSE
- Listing Date
15 Oct 2024
IPO Timeline
Garuda Construction and Engineering IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 8-Oct-24 | 0.02 | 1.11 | 3.50 | 1.95 |
| 9-Oct-24 | 0.91 | 2.59 | 6.74 | 4.11 |
| 10-Oct-24 | 1.24 | 9.03 | 10.81 | 7.55 |
Last Updated: 11 October 2024 11:26 AM by 5Paisa
Garuda Construction and Engineering IPO is set to open on 8 October 2024 and will close on 10 October 2024. Garuda Construction and Engineering Limited is a construction business that was established in 2010.
In addition to additional services for infrastructure and hospitality projects, the firm offers full construction services for residential, commercial, residential/commercial, infrastructure, and industrial projects. The business also offers finishing work as a component of construction services, as well as operation and maintenance (O&M) and mechanical, electrical, and plumbing (MEP) services.
Garuda Construction IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹264.10 Cr |
| Offer For Sale | ₹90.25 Cr |
| Fresh Issue | ₹173.85 Cr |
Garuda Construction 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 Construction IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 1.24 | 60,04,862 | 74,71,316 | 70.98 |
| NII (HNI) | 9.03 | 41,70,000 | 3,76,69,952 | 357.86 |
| Retail | 10.81 | 97,30,000 | 10,52,05,229 | 999.45 |
| Total | 7.55 | 1,99,04,862 | 15,03,46,497 | 1,428.29 |
Garuda Construction IPO Anchor Allocation
| Anchor Bid Date | 7 October, 2024 |
| Shares Offered | 7,895,138 |
| Anchor portion Size (In ₹ Cr.) | 75.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | 10 November, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | 9 January, 2025 |
1. Working Capital Requirements,
2. General Corporate Expenses and Unidentified Inorganic Acquisitions.
Garuda Construction and Engineering Limited is a construction business that was established in 2010.
In addition to additional services for infrastructure and hospitality projects, the firm offers full construction services for residential, commercial, residential/commercial, infrastructure, and industrial projects. The business also offers finishing work as a component of construction services, as well as operation and maintenance (O&M) and mechanical, electrical, and plumbing (MEP) services.
For the fiscal year that ended on April 30, 2024, the firm reported Revenue from Operations of Rs. 1,187.50 Lacs, Rs. 15,417.83 Lacs in FY 2024, and Rs. 16068.76 Lacs in FY 2023.
Peers
Psp Projects Ltd
Capacite Infraprojects Ltd
Vascon Engineers Ltd
Ahluwalia Contracts (india) Ltd.
B.l.kashyap And Sons Ltd.
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 154.47 | 161.02 | 77.03 |
| EBITDA | 50.09 | 55.99 | 27.16 |
| PAT | 36.44 | 40.8 | 18.78 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 228.49 | 176.35 | 111.03 |
| Share Capital | 37.37 | 37.37 | 12.45 |
| Total Borrowings | 0.15 | 0.19 | 11.99 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | -6.81 | 12.25 | 12.91 |
| Net Cash Generated From / (used in) investing activities | 2.54 | -2.11 | -1.15 |
| Net Cash Generated From / (used in) financing activities | -0.06 | -12.18 | -5.08 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 4.33 | -2.04 | 6.67 |
Strengths
1. Exclusive and focused business approach: The company primarily focuses on the construction of residential and commercial buildings and is now venturing into industrial and infrastructure projects.
2. Established and proven track record: The company has a strong track record in various construction projects, including Golden Chariot Vasai Hotel & Spa and Golden Chariot Boutique Hotel in 2015. Since 2017, the company has undertaken residential projects in MMR and completed two. From 2010 to 2017, the company focused on civil engineering in MMR, Karnataka and Tamil Nadu.
3. Strong project management and execution capabilities
4. Strong financial performance and healthy balance sheet: The company recorded Revenue from Operations of Rs. 1,187.50 Lacs for the period ended April 30, 2024, Rs. 15,417.83 Lacs in FY 2024 and Rs. 16068.76 Lacs in FY 2023.
5. Visible growth through increasing order book: As of September 28, 2024, the order value of the company's ongoing and pending projects totaled Rs. 1,40,827.44 lacs. With projects spread across MMR, Arunachal Pradesh, Karnataka, Rajasthan, and Punjab, the increasing number of construction works and projects helped the company maintain its growth momentum and reputation.
Risks
1. Business is subject to seasonal fluctuations.
2. Business is subject to counterparty credit risk and any delay in receiving payment on-receipt of payments may adversely impact results of operations.
3. Business is exposed to various implementation risks and other uncertainties which may adversely affect business, results of operations and financial condition.
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FAQs
Garuda Construction and Engineering IPO opens from October 8 to 10 October 2024.
The size of the Garuda Construction and Engineering IPO is ₹264.10 Cr.
The price of the Garuda Construction and Engineering IPO is fixed at ₹92 to ₹95 per share.
To apply for Garuda Construction and Engineering IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for Garuda Construction and Engineering IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Garuda Construction and Engineering IPO is 157 shares and the investment required is ₹14,915.
The share allotment date of Garuda Construction and Engineering IPO is 11 October 2024.
The Garuda Construction and Engineering IPO will be listed on 15 October 2024.
Aryaman Financial Services Limited is the book running lead manager for Garuda Construction and Engineering IPO.
Garuda Construction and Engineering plans to utilize the raised capital from the IPO for:
1. Funding Working capital requirements; and
2. General Corporate Purpose.
Contact Information
Garuda Construction and Engineering
Garuda Construction and Engineering Limited
201, A Wing,
Fortune 2000 C -3 Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051
Phone: +91 22 79635174
Email: compliance@garudaconstructionengineering.com
Website: https://garudaconstructionengineering.com/
Garuda Construction and Engineering IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: garudaconstructions.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Garuda Construction and Engineering IPO Lead Manager
Corpwis Advisors Private Limited
