Bookbuilding IPO | ₹264 Cr | Listed at BSE, NSE | Tue, Oct 8, 2024 - Thu, Oct 10, 2024
Garuda Construction IPO is a book build issue of ₹264.10 crores. The issue is a combination of fresh issue of 1.83 crore shares aggregating to ₹173.85 crores and offer for sale of 0.95 crore shares aggregating to ₹90.25 crores.
Garuda Construction IPO bidding started from Oct 8, 2024 and ended on Oct 10, 2024. The allotment for Garuda Construction IPO was finalized on Oct 11, 2024. The shares got listed on BSE, NSE on Oct 15, 2024.
Garuda Construction IPO price band is set at ₹95 per share. The lot size for an application is 157. The minimum amount of investment required by an retail is ₹14,915 (157 shares) (based on upper price). The lot size investment for sNII is 14 lots (2,198 shares), amounting to ₹2,08,810, and for bNII, it is 68 lots (10,676 shares), amounting to ₹10,14,220.
Corpwis Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Garuda Construction IPO RHP for detailed Information.
IPO Open
Tue, Oct 8, 2024
IPO Close
Thu, Oct 10, 2024
Issue Price
₹95 per share
Market Cap (Pre-IPO)
₹883.90 Cr
| IPO Date | 8 to 10 Oct, 2024 |
| Listed on | Tue, Oct 15, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹90 to ₹95 |
| Issue Price | ₹95 per share |
| Lot Size | 157 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,78,00,000 shares (agg. up to ₹264 Cr) |
| Fresh Issue | 1,83,00,000 shares (agg. up to ₹174 Cr) |
| Offer for Sale | 95,00,000 shares of ₹5 (agg. up to ₹90 Cr) |
| Share Holding Pre Issue | 7,47,41,742 shares |
| Share Holding Post Issue | 9,30,41,742 shares |
| BSE Script Code / NSE Symbol | 544271 / GARUDA |
| ISIN | INE0JVO01026 |
Garuda Construction IPO offers total 2,78,00,000 shares. Out of which 1,39,00,000 (50.00%) allocated to QIB, 55,60,000 (20.00%) allocated to QIB (Ex- Anchor), 41,70,000 (15.00%) allocated to NII 97,30,000 (35.00%) allocated to RII and 83,40,000 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,39,00,000 (50.00%) | NA |
| − Anchor Investor Shares Offered | 83,40,000 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 55,60,000 (20.00%) | NA |
| NII (HNI) Shares Offered | 41,70,000 (15.00%) | NA |
| − bNII > ₹10L | 27,80,000 (10.00%) | 1,264 |
| − sNII < ₹10L | 13,90,000 (5.00%) | 632 |
| Retail Shares Offered | 97,30,000 (35.00%) | 61,974 |
| Total Shares Offered | 2,78,00,000 (100.00%) |
Investors can bid for a minimum of 157 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 157 | ₹14,915 |
| Retail (Max) | 13 | 2,041 | ₹1,93,895 |
| S-HNI (Min) | 14 | 2,198 | ₹2,08,810 |
| S-HNI (Max) | 67 | 10,519 | ₹9,99,305 |
| B-HNI (Min) | 68 | 10,676 | ₹10,14,220 |
Garuda Construction IPO raises ₹79.23 crore from anchor investors. Garuda Construction IPO Anchor bid date is October 7, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Oct 7, 2024 |
| Shares Offered | 83,40,000 |
| Anchor Portion (₹ Cr.) | 79.23 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Nov 10, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jan 9, 2025 |
Garuda Construction and Engineering Limited was founded in 2010 and is a construction company.
The company provides comprehensive construction services for residential, commercial, residential/commercial, infrastructure, and industrial projects, as well as additional services for infrastructure and hospitality projects. The company also provides services such as operation and maintenance (O&M) and mechanical, electrical and plumbing (MEP) services as well as finishing works as part of construction services.
Strengths:
As of September 28, 2024, the company had 65 permanent employees.
| Period Ended | 30 Apr 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 234.84 | 228.49 | 176.35 | 111.03 |
| Total Income | 11.88 | 154.47 | 161.02 | 77.03 |
| Profit After Tax | 3.50 | 36.44 | 40.80 | 18.78 |
| NET Worth | 122.51 | 119.01 | 82.61 | 41.79 |
| Reserves and Surplus | 85.16 | 81.65 | 70.13 | 29.34 |
| Total Borrowing | 0.15 | 0.15 | 0.19 | 11.99 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirement | 100.00 |
| 2 | General Corporate Purposes including unidentified inorganic acquisitions | 59.67 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 36.14% |
| ROCE | 46.69% |
| RoNW | 30.62% |
| PAT Margin | 23.63% |
| Price to Book Value | 5.97 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 4.87 | 4.52 |
| P/E (x) | 19.49 | 21.03 |
| Promoter Holding | 96.82% | 67.56% |
| Market Cap | ₹883.90 Cr. |
The Garuda Construction and Engineering IPO is subscribed 7.55 times on October 10, 2024 6:19:09 PM (Day 3). The public issue subscribed 10.81 times in the retail category, 1.24 times in the QIB category, and 9.03 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.24 | 60,04,862 | 74,71,316 |
| NII | 9.03 | 41,70,000 | 3,76,69,952 |
| bNII (bids above ₹10L) | 7.93 | 27,80,000 | 2,20,55,360 |
| sNII (bids below ₹10L) | 11.23 | 13,90,000 | 1,56,14,592 |
| Retail | 10.81 | 97,30,000 | 10,52,02,717 |
| Total | 7.55 | 1,99,04,862 | 15,03,43,985 |
Total Application : 7,05,000
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs (including underwriting commission, brokerage and selling commission, as applicable) | 1.77 |
| 2 | Fee Payable to the Underwriter to the Issue (including Syndicate Member Fee) | 14.02 |
| 3 | Fees payable to the Registrar to the Issue | 0.01 |
| 4 | Fees payable to the legal advisors to the Issue | 0.30 |
| 5 | Advertising and marketing expenses | 0.99 |
| 6 | Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses | 1.31 |
| 7 | Printing and stationery | 0.06 |
| 8 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Issue. Brokerage and selling commission and bidding charges or Members of the Syndicate, Registered Brokers, RTAs and CDPs | 2.00 |
| 9 | Others: Fee payable to professionals and experts for confirmations and certifications in relation to the issue | 0.97 |
| 10 | Others: Miscellaneous | 0.10 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹95.00 | ₹95.00 |
| Open | ₹103.20 | ₹105.00 |
| Low | ₹100.30 | ₹100.36 |
| High | ₹120.73 | ₹120.99 |
| Last Trade | ₹106.83 | ₹106.36 |
Lead Manager Reports
Garuda Construction IPO is a main-board IPO of 2,78,00,000 equity shares of the face value of ₹5 aggregating up to ₹264 Crores. The issue is priced at ₹95 per share. The minimum order quantity is 157.
The IPO opens on Tue, Oct 8, 2024, and closes on Thu, Oct 10, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Garuda Construction IPO using UPI as a payment gateway. Zerodha customers can apply in Garuda Construction IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Garuda Construction IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Garuda Construction IPO opens on Tue, Oct 8, 2024 and closes on Thu, Oct 10, 2024.
Garuda Construction IPO lot size is 157, and the minimum amount required for application is ₹14,915.
You can apply in Garuda Construction 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 Garuda Construction IPO will be done on Friday, October 11, 2024, and the allotted shares will be credited to your demat account by Mon, Oct 14, 2024. Check the Garuda Construction IPO allotment status.
The Garuda Construction IPO listing date is on Tue, Oct 15, 2024.
