Bookbuilding IPO | ₹344 Cr | Listed at BSE, NSE | Mon, Sep 24, 2018 - Mon, Oct 1, 2018
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 per share. The lot size for an application is 120. The minimum amount of investment required by an retail is ₹14,160 (120 shares) (based on upper price). 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 Open
Mon, Sep 24, 2018
IPO Close
Mon, Oct 1, 2018
Issue Price
₹118 per share
Market Cap (Pre-IPO)
₹1,351.71 Cr
| IPO Date | 24 Sep to 1 Oct, 2018 |
| Listed on | Wed, Oct 10, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹114 to ₹118 |
| Issue Price | ₹118 per share |
| Lot Size | 120 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 5.00 per share |
| Employee Discount | ₹5.00 |
| Total Issue Size | 2,92,10,760 shares (agg. up to ₹344 Cr) |
| Offer for Sale | 2,92,10,760 shares of ₹10 (agg. up to ₹344 Cr) |
| Share Holding Pre Issue | 11,45,52,000 shares |
| Share Holding Post Issue | 11,45,52,000 shares |
| BSE Script Code / NSE Symbol | 542011 / GRSE |
| ISIN | INE382Z01011 |
Garden Reach Shipbuilders IPO comprises a total issue size of 2,92,10,760 shares. The net offer to the public is 2,86,38,000 shares, after excluding 5,72,760 shares under a preferential allotment. Of the Net offer 1,43,19,000 (50.00%) are allocated to QIB, 42,95,700 (15.00%) allocated to NII 1,00,23,300 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 1,43,19,000 | 50.00% | 49.02% | NA |
| NII (HNI) Shares Offered | 42,95,700 | 15.00% | 14.71% | NA |
| Retail Shares Offered | 1,00,23,300 | 35.00% | 34.31% | 83,527 |
| Preferential Reservations | ||||
| Employee Shares Offered | 5,72,760 | 1.96% | NA | |
| Total Shares Offered | 2,92,10,760 | 100.00% | 100.00% | |
Investors can bid for a minimum of 120 shares and in multiples thereof.
| 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 |
| 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 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Garden Reach Shipbuilders IPO is subscribed 1.02 times on October 1, 2018 5:00:00 PM (Day 6). The public issue subscribed 0.24 times in the retail category, 1.81 times in the QIB category, and 0.31 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.81 | 1,43,19,000 | 2,59,32,000 |
| NII | 0.31 | 42,95,700 | 13,15,080 |
| Retail | 0.24 | 1,00,23,300 | 24,30,240 |
| Employee | 0.14 | 5,72,760 | 81,600 |
| Total | 1.02 | 2,92,10,760 | 2,97,58,920 |
A discount of Rs 5 per equity share is offered to applications in retail and employee quota.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to BRLMs (including underwriting commission, brokerage and selling commission) | 12.02 |
| 2 | Commission and processing fees for SCSBs(1) brokerage, bidding charges and selling commission for Syndicate Members, Registered Brokers, RTAs and CDPs | 0.59 |
| 3 | Others: Other regulatory expenses, Advertising and marketing for this Offer, Fees payable to Legal Counsels, Miscellaneous | 8.15 |
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.
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹118.00 | ₹118.00 |
| Open | ₹104.00 | ₹102.50 |
| Low | ₹95.35 | ₹95.00 |
| High | ₹109.50 | ₹109.00 |
| Last Trade | ₹105.10 | ₹103.30 |
Lead Manager Reports
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 ₹344 Crores. The issue is priced at ₹118 per share. The minimum order quantity is 120.
The IPO opens on Mon, Sep 24, 2018, and closes on Mon, Oct 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 Mon, Sep 24, 2018 and closes on Mon, Oct 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 Wed, Oct 3, 2018. Check the Garden Reach Shipbuilders IPO allotment status.
The Garden Reach Shipbuilders IPO listing date is on Wed, Oct 10, 2018.
