Garuda Construction and Engineering Limited IPO

Mainboard

Civil Construction

Listed On: Oct 15, 2024 at ₹ 105.0(NSE)

₹ 14915 /157 Shares

Check Allotment

Price Summary

Last Closing

77.45 (-18.47%)

52 Week High

120.99

52 Week Low

77.05

Last Update

22-Nov-2024 3:30 PM

Garuda Construction and Engineering IPO Details

08 Oct, 2024

Open Date

10 Oct, 2024

Close Date

11 Oct, 2024

Allotment Date

15 Oct, 2024

Listing Date

Issue Price

₹92-95 per equity share

Face Value

₹5 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Pvt Ltd

List Price

105.0(NSE)

Listing Date

2024-10-15

Market Lot

Retail : 157 Shares (₹14,915/-)
S-HNI : 2,198 Shares (₹2,08,810/-)
B-HNI : 10,676 Shares (₹10,14,220/-)

Lead Manager

Corpwis Advisors Private Limited

Issue Size

Total ₹264.10 Cr :
#Fresh Issue : 18,300,000 shares(aggregating up to ₹173.85 Cr) +
#OFS : 9,500,000 shares of ₹5(aggregating up to ₹90.25 Cr)

Retail Portion

35% (Number of Retail Applications: 61,975 Approx),
(Number of S-HNI Applications : 632 Approx),
(Number of B-HNI Applications : 1,265 Approx)

Subscription

7.55 times

IPO Docs

DRHP RHP ANCHOR

Garuda Construction and Engineering IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	6,004,862	4,170,000 2,780,000 1,390,000	9,730,000	19,904,862
Day 1 - 08-10-24 05:00 PM	0.02 x	1.10 0.45 x 2.39 x	3.43 x	1.91 x
Day 2 - 09-10-24 05:00 PM	0.91 x	2.58 1.32 x 5.10 x	6.73 x	4.10 x
Day 3 - 10-10-24 05:00 PM	1.24 x	9.03 7.93 x 11.23 x	10.81 x	7.55 x

Total No. of Applications: 7,05,000 (Approx)

Retail Subscription on the basis of Applications: Retail:11.24x BHNI:1.53x SHNI:10.11x times

Garuda Construction and Engineering Valuations

EPS Pre IPO

4.87

EPS Post IPO

4.52

P/E Pre IPO

19.49

P/E Post IPO

21.03

RoNW

30.62%

Garuda Construction and Engineering Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	228.49	176.35	111.03
Revenue	154.47	161.02	77.03
Profit After Tax	36.44	40.8	18.78

About The Company

Garuda Construction and Engineering Limited was incorporated on 21st day of September, 2010, and is a fast-emerging civil construction company undertaking comprehensive construction services in residential, commercial, industrial, and infrastructure projects. Garuda has established itself as a quality and innovative trailblazer and earned a good name in the industry.

The company specializes in the construction of concrete and steel structures that are not only strong but also durable, offering customers a total solution with MEP solutions. Garuda is proud to be offering its services-from conceptual design to actual project completion-to ensure that all projects meet its commitment to excellence.

Renowned for its expertise in hospitality development, Garuda consistently delivers projects that not only meet but exceed client expectations. The firm also offers comprehensive operations and maintenance services, ensuring the sustainability and long-term performance of every structure built.

Garuda’s mission is to drive the future of urban development by creating sustainable, innovative, and beautifully designed structures. With a focus on efficiency, client satisfaction, and the use of top-quality materials, Garuda is committed to enhancing urban landscapes with state-of-the-art construction that reflects its core values of social responsibility and design excellence.

Garuda Construction and Engineering - Strength and Weakness

Strength

The company maintains high construction quality and timely delivery through its strong project management capacity, utilizing a fleet of modern construction equipment managed through third-party vendors to remain asset-light.

As of the latest report, Garuda's order book stood at ₹1,40,827.44 lakhs, indicating strong future revenue potential from ongoing and upcoming projects across various regions.

Asset Management and Cost Efficiency: By employing third-party vendors for equipment, Garuda strategically keeps its asset base light, which enhances cost efficiency and minimizes operational disruptions, contributing to its financial stability.

Weakness

Garuda Construction has experienced negative cash flows from operations in recent periods, totalling (-₹192.64 lakhs) as of November 30, 2023, which could hinder financial stability and operations.

Venturing into new markets with 64.61% of ongoing projects with unrelated entities exposes Garuda to risks of non-performance, project delays, and potential financial losses.

Garuda Construction and Engineering - Promoter(s)

Pre Issue Share Holding: N/A%

Post Issue Share Holding: N/A%

Company Promoter(s)

Pravinkumar Brijendra Kumar Agarwal
PKH Ventures Limited
Makindian Township Private Limited

Garuda Construction and Engineering IPO - Issue Objectives

Working Capital Requirements
General Corporate Expenses and unidentified inorganic acquisitions
Cover the Issue Expenses

Garuda Construction and Engineering IPO - Anchor Investors

Garuda Construction and Engineering raises Rs 75 crore via anchor book.

The construction company said in its exchange filing that it has finalised the allocation of 78,95,138 equity shares to seven anchor investors for Rs 95 per share.

AG Dynamic Funds is the largest buyer amongst them, acquiring 21.05 lakh shares worth Rs 20 crore, while Trust Mutual Fund, Maybank Securities, North Star Opportunities Fund, Resonance Opportunities Fund, and Bridge India Fund bought 10.52 lakh shares worth Rs 10 crore each.Cognizant Capital Dynamic Opportunities Fund is the smallest buyer, picking 5.26 lakh shares worth Rs 5 crore.

Other Details

Company Contact Details

Garuda Construction and Engineering

201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051

Phone: +91 22 79635174

Email: compliance@garudaconstructionengineering.com

Website: https://garudaconstructionengineering.com/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: garudaconstructions.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Garuda Construction and Engineering IPO - FAQs

Ans. Garuda Construction and Engineering Limited IPO is a Mainboard IPO. The issue is priced at ₹92-95 per equity share. The minimum order quantity is 157 Shares. The IPO opens on Oct 8, 2024, and closes on Oct 10, 2024. Link Intime India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Garuda Construction and Engineering Limited IPO opens on Oct 8, 2024 and closes on Oct 10, 2024.

Ans. The size of Garuda Construction and Engineering Limited IPO is Total ₹264.10 Cr : #Fresh Issue : 18,300,000 shares(aggregating up to ₹173.85 Cr) + #OFS : 9,500,000 shares of ₹5(aggregating up to ₹90.25 Cr).

Ans. The IPO price band is set between ₹92-95 per equity share.

Ans. To apply for Garuda Construction and Engineering Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Garuda Construction and Engineering Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Garuda Construction and Engineering Limited IPO is Oct 11, 2024.

Ans. The Garuda Construction and Engineering Limited IPO will be listed on Oct 15, 2024.

Ans. Follow the steps to check the allotment status for Garuda Construction and Engineering Limited IPO here.