Garuda Construction and Engineering Pvt. Ltd. is more than just a construction company; they are our trusted EPC (Engineering, Procurement, and Construction) specialist. With a wealth of experience and a proven track record, they have honed their skills to deliver turnkey solutions that exceed expectations.

Garuda Construction and Engineering, an Book Built Issue amounting to ₹264.1 Crores, consisting an Fresh Issue of 183.00 Lakh Shares worth ₹173.85 Crores and an Offer for Sale of 95.00 Lakh Shares totalling to ₹90.25 Crores. The subscription period for the Garuda Construction and Engineering IPO opens on October 08, 2024, and closes on October 10, 2024. The allotment is expected to be finalized on or about Friday, October 11, 2024, and the shares will be listed on the BSE NSE with a tentative listing date set on or about Tuesday, October 15, 2024.

The Share price band Garuda Construction and Engineering IPO is set at ₹92 to ₹95 equity per share, with a minimum lot size of 157 shares. Retail investors are required to invest a minimum of ₹14,915, while the minimum investment for High-Net-Worth Individuals (HNIs) is 14 lots (2,198 shares), amounting to ₹2,08,810.

Corpwis Advisors Private Limited is the book-running lead manager, Link Intime Private Limited is the registrar for the Issue. 

Garuda Construction and Engineering Limited IPO GMP Today
The Grey Market Premium of Garuda Construction and Engineering Limited IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Garuda Construction and Engineering Limited IPO Live Subscription Status Today: Real-Time Updates
As of 07:00 PM on 10 October 2024, the Garuda Construction and Engineering IPO live subscription status shows that the IPO subscribed 7.55 times on its Third day of subscription period. Check the Garuda Construction and Engineering IPO Live Subscription Status Today at BSE.

Garuda Construction and Engineering Limited IPO Anchor Investors Report
Garuda Construction and Engineering has raised ₹75.00 Crore from Anchor Investors at a price of ₹95 per shares in consultation of the Book Running Lead Managers. The company allocated 78,95,138 equity shares to the Anchor Investors. Check Full list of Garuda Construction and Engineering Anchor Investors List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion. 

Garuda Construction and Engineering Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online 
Garuda Construction and Engineering IPO allotment date is 11 October, 2024, Friday. Garuda Construction and Engineering IPO Allotment will be out on 11th October 2024 and will be live on Registrar Website from the allotment date. Check Garuda Construction and Engineering Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Garuda Construction and Engineering Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Garuda Construction and Engineering Limited IPO
Garuda Construction and Engineering Issue Proceeds from the Fresh Issue will be utilized towards the following objects : 
1. ₹10,000.00 Lakhs will be used for Working Capital Requirements 
2. General Corporate Expenses and unidentified inorganic acquisitions

Refer to Garuda Construction and Engineering Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

The Upcoming IPOs in this week and coming weeks are Garuda Construction and Engineering IPO, Afcons Infrastructure Limited, Shiv Texchem Limited ,Archit Nuwood Industries Limited, Hyundai Motor, Swiggy.

The current active IPO is  Khyati Global Ventures Limited IPO .

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About Garuda Construction and Engineering Limited

Garuda Construction and Engineering provide end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure and industrial projects and additional services for infrastructure and also hospitality projects. Wherein, civil construction includes construction of residential, hospitality, industrial, infrastructural and commercial buildings, construction of concrete building structures and composite steel structures which are required for the civil construction. Their end-to-end civil construction starts with detailed route survey, designing, detailed engineering, mobilization of resources, micro scheduling of construction activities, obtaining construction permissions and conducting soil/water testing, hiring of contractor / manpower, procurement of material, lab testing, carrying out construction activities as per approved plan and finally handing over the project are per the agreed terms. Further, they also provide services such as operations and maintenance services (“O&M”) and Mechanical, Electrical and Plumbing (“MEP”) services and finishing works as a part of their construction services.

Their aim is to increase their execution capabilities in terms of the size and number of civil construction projects across various sectors, namely, residential, residential cum commercial, infrastructure, commercial and industrial. They started the civil construction work in hospitality sector with Golden Chariot Vasai Hotel & Spa in the year 2010, the Boutique Hotel, these were construction contracts with their promoter namely PK Hospitality Services Private Limited, now known as PKH Ventures Limited. In the year 2017, they commenced the civil construction of residential buildings in the Mumbai Metropolitan Region (“MMR”) named the Rivali park, Kandivali. In 2021, they concluded civil construction of the Delhi Police Headquarters, for the concessionaire M/s. Eternal Building Assets Private Limited, (a group company), which is also one of their marquee projects, which involved construction of twin towers of seventeen (17) storeys each, with a complete glass façade and steel bridge connecting the two towers, admeasuring total construction area of 89,140.53 Sq. Mtrs. They are currently engaged in civil construction of six (6) residential projects, two (2) commercial projects, one (1) industrial project and one (1) infrastructure. 

Construction sector in India
The construction sector is the country’s second-largest economic segment after Agriculture. The sector contributed 8.4% to the national GVA (at constant price) in FY23. The order book of construction companies is dependent upon the capital expenditure in the economy. Broadly, the investments can be classified into infrastructure, real estate and industrial construction. The largest segment of Indian Construction industry is Infrastructure segment which contributes 59.7% as of FY23. The major chunk of growth is attributable with increase in government spending in building infrastructure. The construction segment witnessed a drop in FY21 due to impact of COVID but has strongly recovered in FY22 and FY23. 

Overall the Indian Construction sector has grown at a CAGR of 10.6% from FY18 to FY23 from Rs. 2,375 Billion to Rs. 3,922 Billion. The construction sector is further expected to grow from Rs. 3,922 Billion in FY23 to Rs. 6,494 Billion in FY30 at a CAGR of 7.5%. Historically, infrastructure creation, spread across sectors such as roads and highways, telecom, airports, ports, power, oil and gas and railways has dominated the investments. Increase in Infrastructure demand & government initiative shows the potential for catapulting India to the third largest construction market globally. The sector is expected to contribute 15% to the Indian economy by 2030. Share of key segments that contribute to construction spending.

EPC stands for ‘Engineering, Procurement and Construction’. EPC entails the contractor build the project by designing, installing and procuring necessary labour and land to construct the infrastructure, either directly or by subcontracting. The EPC contract is a type of construction contract between parties where the contractor is responsible for all the engineering, procurement, and construction activities to deliver the completed project to the employer or owner. In addition to the delivery of the complete facility, the EPC contractor must deliver it within a guaranteed time and guaranteed price. EPC vendors are those service providers which execute projects on a turnkey basis.

The Construction sector was hit hard during the pandemic, because of the lockdown, labour migration leading to logistical challenges. However, the sector has witnessed a growth in FY22 and FY23, supported by unlock measures and significant infrastructure investments by the Government. 

The industry has experienced a similar growth trajectory in the FY24, supported by a sustained focus on infrastructure investments in roads, railways, and airports, in addition to the expansion in real estate activity. According to CMIE, early indications from the real estate sector reveal a robust 23.5% year-on-year growth in sales revenues for the quarter ending December 2023. While operating expenses related to sales increased at a comparatively slower rate of 19.4%, the industry's most significant operating expense, categorized as other operating expenses, witnessed a notable rise of 75.3%. Consequently, the industry's operating profit saw a faster growth rate of 32.1% compared to sales. The operating profit margin expanded by 224 basis points, reaching 34.3%. 

Over the long term, the outlook for construction sector is favourable supported by continued government spending on infrastructure. The Government has expanded the National Infrastructure Policy (NIP) during the Budget to 7,400 projects from 6,835 projects and announced plans for the National Monetization Pipeline and Development Finance Institution (DFI) to improve the financing of infrastructure projects. The NIP covers various sectors and regions indicating that it is relying on an ‘infrastructure creation’ led revival of the country’s economy. The NIP covering rural and urban infrastructure entailed investments to the tune of ₹11,10,000 thousand lakhs will be undertaken by the central government, state governments and the private sector during FY20-25. 

Road construction in India is expected to grow with new funding mechanisms by NHAI, such as ToT (Toll Operate Transfer) and InvITs (Infrastructure Investment Trust) and interest from international funds (both for equity as well as debt). 

This has the potential for catapulting India to the third largest construction market globally. The sector is expected to contribute 15% to the Indian economy by 2030. The recent policy reforms such as the Real Estate Act, GST and REITs are steps to reduce approval delays and are only going to strengthen the real estate and construction sector.

GARUDA CONSTRUCTION AND ENGINEERING LIMITED COMPETITIVE STRENGTHS
1. Exclusive and focused business approach.
2. Established and proven track record
3. Strong project management capacity and execution capabilities
4. Strong financial performance and healthy balance sheet
5. Visible growth through increasing order book
6. Experienced Promoter, Directors & Management Team

GARUDA CONSTRUCTION AND ENGINEERING LIMITED STRATEGIES
1. Thrust into the Construction and Development segment
2. Increase their focus on and execute greater number of projects on a lock-and-key basis
3. Continue focusing on timely completion
4. Continue to maintain an asset light model for their business operations
5. Expand their geographical footprint

GARUDA CONSTRUCTION AND ENGINEERING LIMITED RISK FACTORS & CONCERNS
1. One of their Promoter- Mr. Pravin Kumar, Brijendra Kumar Agarwal is involved in a criminal proceeding initiated by Airport Police Station which is currently pending before the Hon’ble Metropolitan Magistrate at Andheri, Mumbai.
2. The business and profitability are significantly dependent on the performance of the real estate market generally in India and particularly in the Mumbai Metropolitan Region (“MMR”).
3. Their contracts are mostly of the nature of EPC contracts and they are exposed to inherent risks related to their contractual framework.
4. Infrastructure projects are typically awarded to them on satisfaction of prescribed pre-qualification criteria and following a competitive bidding process.