GARUDA CONSTRUCTIONS AND ENGINEERING LIMITED
₹ 92 - ₹ 95
08-Oct-2024 - 10-Oct-2024
₹ 14915.00

/ 157 Shares

GARUDA CONSTRUCTIONS AND ENGINEERING LIMITED

08-Oct-2024 - 10-Oct-2024

₹ 92 - ₹ 95

Price Band

₹ 14915.00

Minimum Investment

157

Bid Lot

27,800,000

Shares

IPO Details

Fresh Issue of 1,83,00,000 Equity Shares and Offer for Sale of Up to 95,00,000 Equity Shares

Category % Shares/Amount
QIB 50% 13,900,000 Shares Rs.132.05 Cr
HNI 1 5% 1,390,000 Shares Rs.13.21 Cr @ 632 Form 1X
HNI 2 10% 2,780,000 Shares Rs.26.42 Cr @ 1265 Form 1X
Retail 35% 9,730,000 Shares Rs.92.44 Cr @ 61975 Form 1X

BRLMs: Corpwis Advisors Pvt. Ltd


Application Require for 1 Time

Retail (Upto 2 Lakh) HNI (2 Lakh to 10 Lakh) HNI (Above 10 Lakh)
61975 Form 1X 632 Form 1X 1265 Form 1X

IPO Lot Size

Category Lots Shares Amount
Retail (Upto 2 Lakh) 1 157 ₹ 14,915
Retail (Upto 2 Lakh) 13 2041 ₹ 193,895
S-HNI (2 Lakh to 10 Lakh) 14 2198 ₹ 208,810
S-HNI (2 Lakh to 10 Lakh) 67 10519 ₹ 999,305
B-HNI (Above 10 Lakh) 68 10676 ₹ 1,014,220

IPO Timeline

  • Open Date

    08-Oct-2024
  • Close Date

    10-Oct-2024
  • Basis of Allotment Date

    11-Oct-2024
  • Initiation of Refunds

    14-Oct-2024
  • Credit Shares to Demat A/c

    14-Oct-2024
  • IPO Listing Date

    15-Oct-2024

Subscription as on
10-Oct-2024 16:49

Category Book Size Subscription No. of Times
QIB 5,560,000 ₹ 52.82 Cr. 7,471,316 ₹ 70.98 Cr. 1.34x
HNI (<10 LAKH) 1,390,000 ₹ 13.21 Cr. 15,530,283 ₹ 147.54 Cr. 11.17x
HNI2 (>10 LAKH) 2,780,000 ₹ 26.41 Cr. 22,055,360 ₹ 209.53 Cr. 7.93x
RETAIL 9,730,000 ₹ 92.44 Cr. 104,478,947 ₹ 992.55 Cr. 10.74x
Total 19,460,000 149,535,906 7.68x
Category Book Size Subscription No. of Times
QIB 5,560,000 ₹ 52.82 Cr. 7,471,316 ₹ 70.98 Cr. 1.34x
HNI (<10 LAKH) 1,390,000 ₹ 13.21 Cr. 15,530,283 ₹ 147.54 Cr. 11.17x
HNI2 (>10 LAKH) 2,780,000 ₹ 26.41 Cr. 22,055,360 ₹ 209.53 Cr. 7.93x
RETAIL 9,730,000 ₹ 92.44 Cr. 104,478,947 ₹ 992.55 Cr. 10.74x
Total 19,460,000 149,535,906 7.68x

*Excluding Anchor

Total No. of Application Approx : ~701363 (11.32 Appwise)

Disclaimer: The above-mentioned information / data are sourced from the websites of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) and are subject to change on real time basis. For updated information / data you can visit their respective website. The information / data provided herein above are for information purpose only and provided "AS IS" and "AS AVAILABLE" basis and without warranty, express or implied. We do not guarantee or warrant the accuracy, adequacy or completeness of the information received through the said websites. “We” hold not responsibility of any kind as regard to any discrepancies, errors, omissions, losses or damages. “We” including its affiliates and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of information / data received through the said websites. The recipient alone shall be fully responsible / are liable for any decision taken on the basis of such information / data. All recipients should before acting upon the said information make their own investigation, seek appropriate professional advice.

About Company

  • The Company was incorporated as ‘Garuda Construction and Engineering Pvt. Ltd’ at Mumbai in September 2010. Subsequently, the Company was converted into a public limited company in September,2023 and the name was changed to ‘Garuda Construction and Engineering Ltd’. The company provides end to end civil construction for residential, commercial, residential cum commercial, infrastructure and industrial projects.
  • The company also provides services such as operations and maintenance services (“O&M”) and Mechanical, Electrical and Plumbing (“MEP”) services and finishing works as a part of its construction services.
  • The company has primarily been an in-house construction company performing sub-contract work of for its Promoter Group and group related entities. Going forward, the company is directly venturing into contracts with unrelated third parties and is taking on a role of a professionally managed construction company.
  • The company is currently engaged in civil construction of 6 residential projects, 2 commercial projects, 1 industrial project and 1 infrastructure project. The order book as on date is ? 1,408.27 Cr. The company’s order book consists of 12 ongoing projects, of which 7 projects are having a contract value of more than ? 100 Cr each. The aggregate area to be constructed for all the projects is 29,68,873.54 sq. ft.
  • The company along with its promoter company and a group company has received a Letter of Intent from the Gorakhpur Development Authority, Gorakhpur, Uttar Pradesh as a successful bidder, for a project of the construction of Rapti Nagar Ext. Township & Sports-city, Gorakhpur.
  • The company’s projects are spread across different geographies like MMR, Punjab, Karnataka, New Delhi, Tamil Nadu, Rajasthan and Arunachal Pradesh. For the cost-effective execution of the projects the company follows an asset-light model, wherein the company deploys majority of the equipment and labour through third party contractors.
  • The Company's revenue from operations has grown at CAGR of 26.03%, from ? 77.02 Cr in FY2022 to ? 154.18 Cr in FY2024, and the Company's Profit After Tax has increased from ? 18.78 Cr in FY2022 to ? 36.43 Cr in FY 2024, at a CAGR of 24.72%. The Company’s revenue from operations was ? 11.88 Cr for the period ended April 30, 2024, and the PAT stood at ? 3.50 Cr.
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Strengths

Competitive Strengths 

 

  • Exclusive and focused business approach;
  • Established and proven track record;
  • Strong project management capacity and execution capabilities;
  • Strong financial performance and healthy balance sheet;
  • Visible growth through increasing order book;
  • Experienced Promoter, Directors & Management Team.

 

 Business Strategies 

 

  • Thrust into the Construction and Development segment;
  • Increase focus on and execute greater number of projects on a lock-and-key basis;
  • Continue focusing on timely completion;
  • Continue to maintain an asset light model for business operations;
  • Expand geographical footprint;
  • Expand Construction activities across sectors.

Company Promoters

Company Financials

Garuda Construction and Engineering Limited's revenue decreased by -4% and profit after tax (PAT) dropped by -11% between the financial year ending with March 31, 2024 and March 31, 2023.

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
Amount in ? Crore

Objects of the Issue

The Company proposes to utilize the funds being raised to fund the following objectives:

  1. Working Capital Requirements
  2. General Corporate Expenses and Unidentified Inorganic Acquisitions

How to Apply

Apply for IPO in few simple steps.

  • Step 01 :

    Once you create your account, Login to Us.

  • Step 02 :

    Under IPO Section, you will be able to see a list of Ongoing IPOs, where you can click on apply button.

  • Step 03 :

    Add quantity of shares to apply – Maximum 3 bids are allowed (For retail category – max amount Rs.2,00,000/-).

  • Step 04 :

    Enter your UPI ID and you will receive mandate on your UPI App.

  • Step 05 :

    Once you accept the mandate, Application is submitted successful.

  • Applying for an IPO is easier than ever with Us, in just a few clicks your application is processed. You can bid for any IPO through Us, the bidding process is simple and hassle free. Every company has a lot size decided & you can buy in multiples of the decided lot.
  • If lot size is 15, then you have to bid for multiples of 15 share like 30,45,60 and so on.
  • The maximum subscription amount for retail investors is 2 lakh.
  • Any bid can be at a desired price or cut off price given by the company.

  • Enter the number of shares you wish to buy, as per the lot size.
  • You can apply at the cut off price set by the company or bid for a desired amount within the price band.
  • Maximum three bids will be accepted.
  • You then need to enter the UPI ID on IPO application form.

  • You will immediately get a fund blocked request on your UPI for the submitted IPO application.
  • The funds will be blocked in your bank account until allotment when it is debited.
  • The limit for IPO application is Rs 2 lakh per transaction on UPI.
  • On allotment of the shares, the money will be automatically debited.
  • If the share aren’t allotted the blocked funds will reflect back into your account.

Frequently Asked Questions

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