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

The company is launching a Book Built Issue amounting to ₹264.1 Crores, consisting of a Fresh Issue of 183.00 Lakh Shares worth ₹173.85 Crores and an Offer for Sale of 95.00 Lakh Shares totaling ₹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 of shares is expected to be finalized on or about October 11, 2024, with a tentative listing date on the BSE NSE scheduled for around October 15, 2024.

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

Corpwis Advisors Private Limited is the book-running lead manager for this IPO, and Link Intime Private Limited serves as the registrar for the issue.

Garuda Construction and Engineering Limited IPO GMP Today

Currently, the Grey Market Premium (GMP) for Garuda Construction and Engineering is expected to be ₹0, based on the company’s financial performance. It’s important to note that no real trading occurs based on the Grey Market Premium, and hence, no genuine price discovery can be made prior to the listing of shares on the stock exchange. The GMP is influenced by demand and supply dynamics in an unregulated market and is mentioned for educational and informational purposes only.

Garuda Construction and Engineering Limited IPO Live Subscription Status Today

The Garuda Construction and Engineering IPO will be open for subscription starting October 8, 2024. Investors are encouraged to monitor the subscription progress in real-time as the dates approach.

Garuda Construction and Engineering Limited IPO Anchor Investors Report

Garuda Construction and Engineering has raised ₹75.00 Crores from anchor investors at a price of ₹95 per share, allocating 78,95,138 equity shares to them. Shares allotted to anchor investors are drawn from the Qualified Institutional Buyers (QIBs) reservation portion.

Important Notes:

The number of shares offered in the IPO subscription section is calculated at the lower end of the price band, while the number of shares in the IPO details section is based on the upper end of the price band for the Book Building Issue. Discrepancies may occur because shares are issued at the upper band when demand exists.

The market maker portion, if any, is included in the Non-Institutional Investors (NIIs) reservation portion and is not shown separately in the subscription table.

Garuda Construction and Engineering Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online

The allotment date for Garuda Construction and Engineering is set for October 11, 2024. Investors can check their allotment status through the following steps:

Navigate to the IPO allotment status page.

Select Garuda Construction and Engineering Limited IPO from the dropdown list.

Enter your application number, PAN, or DP Client ID.

Submit the details to check your allotment status.

This straightforward process enables investors to quickly determine their allotment status and make informed decisions regarding their investments.

Objectives of Garuda Construction and Engineering Limited IPO

The proceeds from the Fresh Issue will be utilized for the following objectives:

₹10,000.00 Lakhs will be allocated for working capital requirements.

Additional funds will be directed towards general corporate expenses and potential inorganic acquisitions.

In conclusion, Garuda Construction and Engineering presents a compelling investment opportunity in the construction sector as an EPC specialist. As investors evaluate their options, it is crucial to consider the IPO metrics and overall financial performance. For more insights and updates on upcoming IPOs, check out Best IPOs and Top News Headlines.

Join our Trading with CA Abhay Telegram Channel for regular updates and insights from CA Abhay Varn, a SEBI Registered Research Analyst. Don’t forget to subscribe to our Finance Saathi Telegram Channel for the latest news on IPOs and market trends.

Start your investment journey by opening a free Demat account with Choice Broking FinX.