The Garuda Construction and Engineering IPO is scheduled to open on October 8, 2024, and will close on October 10, 2024. Furthermore, this IPO will follow a Book Built Issue model, aiming to raise approximately ₹264.10 crores. The offering includes a fresh issue worth ₹173.85 crores, in addition to an offer for sale of up to 95,00,000 equity shares, each carrying a face value of ₹5.
Table of contents
- Garuda Construction and Engineering IPO Overview
- Company Details
- Key Dates
- Financials (₹ in Crores)
- IPO Lot Size
- The objective of the Issue
- Company Promoters
- Garuda Construction and Engineering IPO GMP (Grey Market Premium)
- Garuda Construction and Engineering IPO Application Form PDF
- Garuda Construction and Engineering IPO Subscription Status
- Garuda Construction and Engineering IPO Allotment Status
- IPO Review
- Garuda Construction and Engineering IPO Registrar
- Garuda Construction and Engineering IPO Lead Manager
- Garuda Construction and Engineering Limited Contact
- FAQs
Garuda Construction and Engineering IPO Overview
| Overview Points | Description |
|---|---|
| Company Name | Garuda Construction and Engineering Limited |
| Industry | Construction and Engineering |
| IPO Issue Type | Book Built Issue |
| Open Date | October 08, 2024 |
| Close Date | October 10, 2024 |
| Total Issue Size | ₹264.10 Crores (27,800,000 Equity Shares) |
| Fresh Issue | ₹173.85 Crores (18,300,000 Equity Shares) |
| Face Value | ₹5 Per Equity Share |
| Price Band | ₹92 to ₹95 per share |
| Listing on | BSE & NSE |
| Lot Size | 157 Shares |
| Offer for Sale | ₹90.25 Crores (9,500,000 Equity Shares) |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
Garuda Construction is headquartered at 201, A Wing, Fortune 2000 C 3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra. Moreover, the company provides comprehensive construction services for commercial, residential, infrastructure, and industrial projects, including the construction of residential, hospitality, industrial, and commercial buildings, as well as concrete building structures.
Additionally, the company reported revenue of ₹8,042.34 lakhs for the eight months ending November 30, while revenues for Fiscal Years 2023, 2022, and 2021 were ₹16,068.76 lakhs, ₹7,702.08 lakhs, and ₹7,195.52 lakhs, respectively.
Established on September 21, 2010, as “Garuda Construction and Engineering Private Limited” under the Companies Act of 1956, the company’s primary focus is on customer satisfaction and fostering long-term relationships.
Key Dates
| Events | Date |
|---|---|
| IPO Open Date | October 8, 2024 |
| IPO Close Date | October 10, 2024 |
| Basis of Allotment | October 11, 2024 |
| Refunds | October 14, 2024 |
| Credit to Demat Account | October 14, 2024 |
| IPO Listing Date | October 15, 2024 |
Financials (₹ in Crores)
| Period Ended | 30 Apr 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | ₹234.84 | ₹228.49 | ₹176.35 | ₹111.03 |
| Revenue | ₹11.88 | ₹154.47 | ₹161.02 | ₹77.03 |
| Profit After Tax | ₹3.5 | ₹36.44 | ₹40.8 | ₹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 |
IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 157 | ₹14,915 |
| Retail (Max) | 13 | 2041 | ₹193,895 |
| S-HNI (Min) | 14 | 2,198 | ₹208,810 |
| B-HNI (Min) | 68 | 10,676 | ₹1,014,220 |
The objective of the Issue
- Working Capital Needs.
- General Corporate Expenses and Potential Inorganic Acquisitions.
Company Promoters
- Mr. Pravinkumar Brijendra Kumar Agarwal
- PKH Ventures Limited
- Makindian Township Private Limited
Garuda Construction and Engineering IPO GMP (Grey Market Premium)
Are you curious about the latest Grey Market Premium (GMP) for the Garuda Construction and Engineering IPO? Look no further! Visit our dedicated IPO GMP section where we keep you in the loop with daily updates on all IPOs, including Garuda Construction and Engineering Limited. Additionally, stay ahead of the game with real-time GMP insights that can help you make informed investment decisions. Whether you’re a seasoned investor or just getting started, our updates have got you covered!
Garuda Construction and Engineering IPO Application Form PDF
To download the Garuda Construction and Engineering IPO application form, simply check out the IPO Forms. Additionally, you can download the ASBA IPO Forms PDF.
Garuda Construction and Engineering IPO Subscription Status
This IPO subscription kicks off on October 08, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
Garuda Construction and Engineering IPO Allotment Status
To check the Garuda Construction and Engineering IPO allotment status go to the IPO registrar website Link Intime or go to IPO Allotment.
Furthermore, To check allotment status. Firstly, follow the steps below:
- Firstly, go to the link given above.
- Secondly, select the company name.
- Then, enter your PAN Number, Beneficiary Number, Application Number, or CAF Number.
- Finally, submit the details to get the allotment status.
IPO Review
Strengths:
- Garuda Construction consistently ensures high-quality construction and timely delivery by leveraging its strong project management capabilities.
- Additionally, it utilizes a fleet of modern construction equipment managed by third-party vendors, enabling the company to maintain an asset-light approach.
- In FY2023, Garuda further demonstrated impressive growth, posting revenues of ₹16,068.76 lakhs. Moreover, the company achieved an EBITDA margin of 34.85% and an outstanding Return on Capital Employed (ROCE) of 71.27%.
- By strategically employing third-party vendors for equipment, Garuda continues to maintain a light asset base, which not only enhances cost efficiency but also minimizes operational disruptions, further contributing to its financial stability.
Risks:
- However, Garuda Construction has recently experienced negative cash flows from operations, totaling (-₹192.64 lakhs) as of November 30, 2023, which could potentially affect its financial stability and day-to-day operations.
- Furthermore, Garuda’s expansion into new markets, where 64.61% of ongoing projects are with unrelated entities, exposes the company to risks such as non-performance, project delays, and possible financial losses.
- In addition, the lack of non-compete agreements with related group entities increases the risk of direct competition, potentially jeopardizing future business opportunities and growth.
- Moreover, ongoing transactions with related parties may not always be conducted at arm’s length, which could lead to financial discrepancies and negatively impact the company’s operations and profitability.
- Finally, historical non-compliance issues regarding securities allotment in 2015 and 2016 could result in penalties or legal repercussions, thereby damaging Garuda’s reputation and financial health.
Garuda Construction and Engineering IPO Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: garudaconstructions.ipo@linkintime.co.in
Website: www.linkintime.co.in
Garuda Construction and Engineering IPO Lead Manager
CORPWIS ADVISORS PRIVATE LIMITED
510, 5th Floor, Dilkap Chambers, Plot – A/7 Veera Desai Road,
Andheri (West), Mumbai, 400053 Maharashtra, INDIA
Phone: +91 22 4972 9990
Email: ipo@corpwis.com
Website: www.corpwis.com
Garuda Construction and Engineering Limited Contact
GARUDA CONSTRUCTION AND ENGINEERING LIMITED
201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051, Maharashtra
Phone: +91 22 79635174
Email: compliance@garudaconstructionengineering.com
Website: www.garduaconstructionengineering.com
FAQs
The Garuda Construction IPO is a main-board offering through which the company aims to raise ₹264.10 crores. Additionally, the issue is priced between ₹92 and ₹95 per equity share and will be listed on both the BSE and NSE.
The IPO is set to open for subscription on October 8, 2024, for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and retail investors. Furthermore, it will close on October 10, 2024.
Additionally, The allocation for investors is as follows: 50% for QIBs, 15% for NIIs, and 35% for retail investors.
The price band for the Garuda Construction IPO is established at ₹92 to ₹95 per share.
Moreover, The minimum bid consists of 157 shares, which requires an investment of ₹14,915.
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