Garuda Construction and Engineering IPO ends today - Check latest GMP, review before applying

Team FS

    10/Oct/2024

Garuda Construction IPO subscription opens from October 8 to October 10, 2024.

The price band is set between ₹92 to ₹95 with a minimum lot size of 157 shares.

Financial metrics indicate steady growth, but investors are advised to avoid for listing gains.

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 is conducting 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 is expected to be finalized on or about Friday, October 11, 2024, and the shares will be listed on the BSE and NSE, with a tentative listing date set for Tuesday, 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. 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, and Link Intime Private Limited is the registrar for the issue.

Garuda Construction and Engineering Limited IPO GMP Today

The Grey Market Premium (GMP) of Garuda Construction and Engineering Limited IPO is expected to be ₹0 based on the financial performance of the company. It's important to note that no real trading is done on the basis of Grey Market Premium, and thus no actual price discovery can be done before the shares are listed on the stock exchange. The GMP is mentioned for educational and informational purposes only and depends on the demand and supply of the shares in an unorganized manner.

Garuda Construction and Engineering Limited IPO Live Subscription Status Today

As of 03:00 PM on October 10, 2024, the Garuda Construction and Engineering IPO live subscription status shows that the IPO is subscribed 7.07 times on its third day of the subscription period. You can 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 share, in consultation with the Book Running Lead Managers. The company allocated 78,95,138 equity shares to the anchor investors.

Note: Equity shares allotted to anchor investors (if any) are allotted from the Qualified Institutional Buyers (QIBs) reservation portion.

Note: The number of shares offered shown in the IPO subscription section table is calculated at the lower end of the price band, while the number of shares in the IPO details table section is calculated at the upper end of the price band in the case of a Book Building Issue. Therefore, there can be a difference.

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

The Garuda Construction and Engineering IPO allotment date is October 11, 2024. The allotment will be live on the registrar's website from the allotment date. To check your 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 these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Garuda Construction and Engineering Limited IPO

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

₹10,000.00 Lakhs will be used for Working Capital Requirements

General Corporate Expenses and unidentified inorganic acquisitions.

Garuda Construction and Engineering IPO Review

Garuda Construction and Engineering Pvt. Ltd. stands as a trusted name in the construction sector. The company is led by PRAVINKUMAR BRIJENDRA KUMAR AGARWAL, who has more than two decades of experience in various businesses, including construction and development, hospitality, and management services.

Financially, the company's revenue figures for Fiscal 2024, Fiscal 2023, and Fiscal 2022 were ₹15,446.88 Lakhs, ₹16,102.41 Lakhs, and ₹7,702.79 Lakhs, respectively. The EBITDA for the same periods were ₹5,008.56 Lakhs, ₹5,599.17 Lakhs, and ₹2,716.85 Lakhs. The Profit after Tax for Fiscal 2024, 2023, and 2022 were ₹3,643.53 Lakhs, ₹4,079.53 Lakhs, and ₹1,878.22 Lakhs, respectively. This indicates steady growth in financial performance.

For the Garuda Construction and Engineering IPO, the company is issuing shares at a pre-issue EPS of ₹4.87 and a post-issue EPS of ₹3.91. The pre-issue P/E ratio is 19.50x, while the post-issue P/E ratio is 24.29x, against an industry average P/E ratio of 27.58. The company's ROCE for FY24 is 41.73% and RoE for FY24 is 30.62%. These metrics suggest that the IPO is fairly priced.

Given the company's financial performance and the valuation of the IPO, we recommend that investors avoid the Garuda Construction and Engineering Limited IPO for listing gains or long-term investment purposes.

The current active IPO is Pranik Logistics Limited, Shiv Texchem Limited IPO, Garuda Construction and Engineering Limited IPO.

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