Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Garden Reach Shipbuilders IPO is a book build issue of ₹343.59 crores. The issue is entirely an offer for sale of 2.92 crore shares of ₹343.59 crore.
Garden Reach Shipbuilders IPO bidding started from Sep 24, 2018 and ended on Oct 1, 2018. The allotment for Garden Reach Shipbuilders IPO was finalized on Oct 1, 2018. The shares got listed on BSE, NSE on Oct 10, 2018.
Garden Reach Shipbuilders IPO price band is set at ₹118.00 per share . The lot size for an application is 120. The minimum amount of investment required by an retail is ₹13,680 (120 shares). The lot size investment for sNII is 15 lots (1,800 shares), amounting to ₹2,12,400, and for bNII, it is 71 lots (8,520 shares), amounting to ₹10,05,360.
The issue includes a reservation of up to 5,72,760 shares for employees offered at a discount of ₹5.00 to the issue price.
IDBI Capital Markets Services Ltd. is the book running lead manager and Alankit Assignments Ltd. is the registrar of the issue.
Refer to Garden Reach Shipbuilders IPO RHP for detailed Information.
| IPO Date | September 24, 2018 to October 1, 2018 |
| Listing Date | October 10, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹114 to ₹118 per share |
| Issue Price Final | ₹118 per share |
| Lot Size | 120 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 2,92,10,760 shares (aggregating up to ₹343.59 Cr) |
| Retail Discount | Rs 5.00 per share |
| Employee Discount | ₹5.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 11,45,52,000 shares |
| Share Holding Post Issue | 11,45,52,000 shares |
Garden Reach Shipbuilders IPO offers total 2,92,10,760 shares. Out of which 1,43,19,000 (49.02%) allocated to QIB, 42,95,700 (14.71%) allocated to NII, 1,00,23,300 (34.31%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,43,19,000 (49.02%) | NA |
| NII (HNI) Shares Offered | 42,95,700 (14.71%) | NA |
| Retail Shares Offered | 1,00,23,300 (34.31%) | 83,527 |
| Employee Shares Offered | 5,72,760 (1.96%) | NA |
| Total Shares Offered | 2,92,10,760 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Garden Reach Shipbuilders IPO opens on September 24, 2018, and closes on October 1, 2018.
| IPO Open Date | Mon, Sep 24, 2018 |
| IPO Close Date | Mon, Oct 1, 2018 |
| Tentative Allotment | Mon, Oct 1, 2018 |
| Initiation of Refunds | Wed, Oct 3, 2018 |
| Credit of Shares to Demat | Wed, Oct 3, 2018 |
| Tentative Listing Date | Wed, Oct 10, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Oct 1, 2018 |
Investors can bid for a minimum of 120 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,160 |
| Retail (Max) | 14 | 1,680 | ₹1,98,240 |
| S-HNI (Min) | 15 | 1,800 | ₹2,12,400 |
| S-HNI (Max) | 70 | 8,400 | ₹9,91,200 |
| B-HNI (Min) | 71 | 8,520 | ₹10,05,360 |
Incorporated in 1913, Garden Reach Shipbuilders & Engineers Limited is a Mini Ratna-Category I company engaged in shipbuilding company under the administrative control of the MoD.
The company primarily adheres to the requirements of the Indian Navy and the Indian Coast Guard. It is also engaged in the engineering and engine production activities and manufactures deck machinery items, pre-fabricated portable steel bridges, and marine pumps.
Garden Reach Shipbuilders has three separate facilities for shipbuilding, located at Kolkata, India. The ships are built at the Main Works Unit and the Rajabagan Dockyard. The third facility, is mainly used for fitting out and repair of ships.
The Company has many firsts to its credit in the Indian shipbuilding industry. It is the first Indian shipyard to integrate carbon composite superstructure with steel hull for the construction of the third ASW Corvette for the Indian Navy.
It is also the first and the only Indian shipyard to build and subsequently deliver a fleet tanker to the Indian Navy and to build and subsequently deliver a hovercraft to the Indian Coast Guard among others.
The shipbuilding division contributes majorly to the company's revenue from operations. It has contributed 81.23%, 75.10%, 79.09% and 83.33% of gross revenue from operations in September 30, 2017, Fiscals 2017, 2016
and 2015 respectively.
Strengths of the Company-
1. Strong Order Book of Rs 208,033.60 million as on February 28, 2018.
2. Significant advantage over global shipyards in securing contracts due to Make in India initiative.
3. Offers diversified products and services in addition to shipbuilding
4. Modern infrastructure with integrated shipbuilding capabilities
The company has 2,224 full-time employees on its payroll.
| Particulars | For the year/period ended (in Rs. Millions) | |||||
|---|---|---|---|---|---|---|
| 30-Sep-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15(Proforma) | |||
| Total Assets | 46,999.32 | 45,650.04 | 44,514.94 | 40,009.76 | ||
| Total Revenue | 5,8583.93 | 11,579.57 | 18,467.47 | 16,391.63 | ||
| Profit After Tax | 180.69 | 122.32 | 1,620.47 | 517.28 | ||
The objects of the Issue are to:
1. Carry out the disinvestment of Equity Shares by the Selling Shareholder
2. Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
The Company will not receive any proceeds from this Offer and all proceeds shall go to the Selling Shareholder.
[Dilip Davda] Considering the improved performance of FY18 post scale up in capacities with adoption of new technologies and order on hand, investors may consider investment for long term in the issue of company related to defense sector. Read detail review...
A discount of Rs 5 per equity share is offered to applications in retail and employee quota.
The issue closure date has been extended up to 01 October 2018. The Price band has been revised from 115/- to Rs. 118/- To Rs. 114/- to Rs. 118/- per share.
| Listing Date | October 10, 2018 |
| BSE Script Code | 542011 |
| NSE Symbol | GRSE |
| ISIN | INE382Z01011 |
| Final Issue Price | ₹118 per share |
Garden Reach Shipbuilders & Engineers Ltd.
43/46 Garden Reach Road
Kolkata - 700 024
West Bengal, India
Kolkata, West Bengal
Phone: 033-2469 8545
Email: co.sec@grse.co.in
Website: http://www.grse.in/
Alankit Assignments Ltd.
Phone: (011) 4254 1234
Email: info@alankit.com
Website: http://ipo.alankit.com/
Garden Reach Shipbuilders IPO is a main-board IPO of 2,92,10,760 equity shares of the face value of ₹10 aggregating up to ₹343.59 Crores. The issue is priced at ₹118 per share. The minimum order quantity is 120.
The IPO opens on September 24, 2018, and closes on October 1, 2018.
Alankit Assignments Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Garden Reach Shipbuilders IPO using UPI as a payment gateway. Zerodha customers can apply in Garden Reach Shipbuilders IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Garden Reach Shipbuilders IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Garden Reach Shipbuilders IPO opens on September 24, 2018 and closes on October 1, 2018.
Garden Reach Shipbuilders IPO lot size is 120, and the minimum amount required for application is ₹14,160.
You can apply in Garden Reach Shipbuilders IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Garden Reach Shipbuilders IPO will be done on Monday, October 1, 2018, and the allotted shares will be credited to your demat account by Wednesday, October 3, 2018. Check the Garden Reach Shipbuilders IPO allotment status.
The Garden Reach Shipbuilders IPO listing date is on Wednesday, October 10, 2018.
Useful Articles
RHP