Garuda Construction and Engineering Limited IPO

Garuda Construction and Engineering IPO opens for subscription on October 8, 2024, and closes on October 10, 2024. The allotment for the Garuda Construction and Engineering IPO is expected to be finalized on Friday, October 11, 2024. Garuda Construction and Engineering IPO will be listed on BSE, NSE with a tentative listing date fixed as Tuesday, October 15, 2024.

Garuda Construction and Engineering IPO price band is set at ₹92 to ₹95 per share. The minimum lot size for an application is 157 Shares. The minimum amount of investment required by retail investors is ₹14,915. The minimum lot size investment for sNII is 14 lots (2,198 shares), amounting to ₹208,810, and for bNII, it is 68 lots (10,676 shares), amounting to ₹1,014,220.

Garuda Construction and Engineering IPO is a book built issue of Rs 264.10 crores. The issue is a fresh issue of 1.83 crore shares aggregating to Rs 173.85 crores and offer for sale of 0.95 crore shares aggregating to Rs 90.25 crores.

Garuda Construction and Engineering IPO Details

Garuda Construction and Engineering IPO Lot Size

Investors can bid for a minimum of 157 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Garuda Construction and Engineering IPO Objectives

The Company proposes to utilize the funds being raised to fund the following objectives:

1. Funding Working capital requirements; and
2. General Corporate Expenses and Unidentified Inorganic Acquisitions

About Garuda Construction and Engineering Limited

Garuda Construction and Engineering Limited, founded in 2010, specializes in a wide range of construction services, focusing on residential and commercial projects while expanding into industrial and infrastructure sectors. With a proven track record highlighted by notable projects like the Golden Chariot Vasai Hotel & Spa, the company has established itself in the market, particularly in the MMR, Karnataka, and Tamil Nadu regions. Its strengths lie in robust project management, strong financial health—with revenues of Rs. 15,417.83 Lacs in FY 2024—and a growing order book totaling Rs. 1,40,827.44 Lacs as of September 2024. This ongoing expansion across various states, coupled with an experienced leadership team and a dedicated workforce of 65 permanent employees, reinforces its reputation for reliability and excellence in construction.

Garuda Construction and Engineering Limited Financial Information

Garuda Construction and Engineering IPO Reservation

Garuda Construction and Engineering IPO Timeline

Garuda Construction and Engineering IPO opens on October 8, 2024, and closes on October 10, 2024.