Garuda Construction and Engineering IPO opens today : GMP, issue details, 10 key things to know

  • Garuda Construction and Engineering IPO opens for subscription on October 8, with a price band of 92 to 95. The firm aims to enhance its capacity in civil construction, targeting larger contracts and a broader client base.

Dhanya Nagasundaram
Updated8 Oct 2024, 11:49 AM IST
Garuda Construction and Engineering IPO opens for subscription on October 8, offering shares at  <span class='webrupee'>₹</span>92-95.
Garuda Construction and Engineering IPO opens for subscription on October 8, offering shares at ₹92-95.(https://garudaconstructionengineering.com/)

Garuda Construction and Engineering IPO opens for subscription tomorrow (Tuesday, October 8). The company offers comprehensive civil construction services for residential, commercial, residential cum commercial, infrastructure, and industrial projects, as well as, additional services for infrastructure and hospitality projects. The company's goal is to enhance its capacity for executing civil construction projects across various sectors. Additionally, the firm aims to secure larger contracts with developers outside their group entities and broaden their client base.

In fiscal 2022, the company's revenue from operations was 7,702.08 lakhs, and by fiscal 2024, it had increased to 15,417.83 lakhs, representing a Compound Annual Growth Rate (CAGR) of 26.03%. Additionally, the company's profit after tax rose from 1,878.22 lakhs in fiscal 2022 to 3,643.53 lakhs in fiscal 2024, reflecting a CAGR of 24.72%.

 

Also Read | Garuda Construction IPO: 10 key things to know from RHP before subscribing

The company's listed peers, as per its red herring prospectus (RHP), include PSP Projects Ltd, which has a P/E of 20, Capacite Infraprojects Ltd, which has a P/E of 23.61, Vascon Engineers Ltd, which has a P/E of 22.66, Ahluwalia Contracts (India) Ltd, which has a P/E of 22.97, and B L Kashyap & Sons Ltd, which has a P/E of 48.67.

According to the CareEdge Report, the operating profit margin for construction peers in FY23 ranged from 10.80% to 34.80%, with Garuda Construction and Engineering leading at 34.80%, significantly surpassing the peer average of 16.90% during the same period.

Here are the 10 key things to know about Garuda Construction IPO:

Garuda Construction IPO date: Garuda Construction and Engineering IPO opens for subscription on Tuesday, October 8, and closes on Thursday, October 10.

Garuda Construction IPO price band: The issue's price band has been fixed in the range of 92 to 95 per equity share of face value of 5.

Garuda Construction IPO lot size: Garuda Construction and Engineering IPO lot size is 157 equity shares and its multiples thereafter.

Anchor investors: The allocation to anchor investors for Garuda Construction IPO is scheduled to take place today (Monday, October 7).

Garuda Construction IPO details: The IPO includes 1.83 crore fresh equity and 95 lakh equity shares offered for sale by promoter PKH Ventures Ltd.

 

Also Read | Garuda Construction IPO: Price band set at ₹92-95 apiece; check details

Garuda Construction IPO objective: The proceeds from the fresh offering will be used to address the company's operational funding requirements and for general business use, including possible non-organic acquisitions.

Garuda Construction IPO listing date and allotment details: The basis of allotment of shares for the Garuda Construction and Engineering IPO is expected to be finalised on Friday, October 11. Refunds will be initiated by the company on Monday, October 14, and the shares will be credited to the demat account of allottees on the same day after the refund. It is anticipated that Garuda Construction share price will list on BSE and NSE on Tuesday, October 15.

Lead Manager and Registrar of Garuda Construction IPO: Corpwis Advisors Private Ltd is the sole lead manager and Link Intime India Private Ltd serves as the registrar for the issue.

Garuda Construction IPO reservation: The company has allocated 50% of the shares in the public offering to qualified institutional buyers (QIB), 15% to non-institutional investors (NII), and 35% of the offer is set aside for retail investors.

Garuda Construction IPO GMP today: Garuda Construction and Engineering IPO GMP today is +22. This indicates Garuda Construction share price was trading at a premium of 22 in the grey market on Monday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Garuda Construction share price is indicated at 117 apiece, which is 23.16% higher than the IPO price of 95.

Today's IPO GMP suggests a strong listing, based on the grey market activities from the last 7 sessions. The GMP ranges from 0 to 22, according to experts at investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

 

Also Read | Upcoming IPO: Garuda Construction and Engineering gets SEBI’s nod

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

 

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:8 Oct 2024, 11:49 AM IST
Business NewsMarketsIPOGaruda Construction and Engineering IPO opens today : GMP, issue details, 10 key things to know

Most Active Stocks

Tata Steel share price

147.55
03:59 PM | 8 NOV 2024
-3.35 (-2.22%)

Tata Motors share price

805.70
03:58 PM | 8 NOV 2024
-14.1 (-1.72%)

Indian Hotels Company share price

733.05
03:51 PM | 8 NOV 2024
49.45 (7.23%)

Ashok Leyland share price

222.00
03:59 PM | 8 NOV 2024
6.2 (2.87%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Aarti Industries share price

474.75
03:59 PM | 8 NOV 2024
-40.3 (-7.82%)

Signatureglobal India share price

1,274.45
03:29 PM | 8 NOV 2024
-107.95 (-7.81%)

Great Eastern Shipping Company share price

1,200.50
03:29 PM | 8 NOV 2024
-90.45 (-7.01%)

GMM Pfaudler share price

1,282.90
03:29 PM | 8 NOV 2024
-92 (-6.69%)
More from Top Losers

Indian Hotels Company share price

733.05
03:51 PM | 8 NOV 2024
49.45 (7.23%)

Vijaya Diagnostic Centre share price

1,098.90
03:29 PM | 8 NOV 2024
71.45 (6.95%)

Motilal Oswal Financial Services share price

996.05
03:59 PM | 8 NOV 2024
61.85 (6.62%)

One 97 Communications share price

848.15
03:58 PM | 8 NOV 2024
52.35 (6.58%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    79,485.000.00
    Chennai
    79,491.000.00
    Delhi
    79,643.000.00
    Kolkata
    79,495.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.92/L0.00
    Chennai
    100.80/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.77/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts