Garuda Construction and Engineering Limited just debuted on the Indian stock market with an Initial Public Offering (IPO). This Mumbai-based construction company is making waves in the market for its experience in residential, commercial, infrastructure, and industrial projects.
Garuda Construction IPO Details
| Feature | Details |
|---|---|
| IPO Date | October 8, 2024 to October 10, 2024 |
| Listing Date | Tuesday, October 15, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹92 to ₹95 per share |
| Lot Size | 157 Shares |
| Total Issue Size | Approximately ₹264.10 crore |
| Fresh Issue | Approximately ₹173.85 Cr |
| Offer for Sale | Approximately ₹90.25 Cr |
Garuda Construction IPO Timeline
The Garuda Construction and Engineering IPO begins on October 8, 2024, and ends on October 10, 2024.
| Event | Date |
|---|---|
| IPO Open Date | Tuesday, October 8, 2024 |
| IPO Close Date | Thursday, October 10, 2024 |
| Allotment Announcement Date | Friday, October 11, 2024 |
| Refund Initiation Date | Monday, October 14, 2024 |
| Credit of Shares in Demat Account | Monday, October 14, 2024 |
| Listing Date | Tuesday, October 15, 2024 |
Garuda Construction IPO Lot Size
The lot size for the Garuda Construction IPO refers to the minimum number of shares that an investor must purchase to participate in the offering. This is typically done to ensure that the IPO is widely distributed among retail investors and to prevent excessive concentration of shares in the hands of a few individuals.
The lot size for the Garuda Construction IPO was 157. This means that investors had to purchase a minimum of 157 shares to participate in the offering. If an investor wanted to purchase more shares, they could do so in multiples of the lot size.
Garuda Construction IPO GMP
Garuda Construction and Engineering’s IPO GMP today is +22. According to investorgain, Garuda Construction’s share price was trading at a premium of ₹22 in the grey market on Monday.
Garuda Construction’s share price is anticipated to be ₹117, 23.16% higher than the IPO price of ₹95, taking into account the upper end of the IPO pricing band and the current grey market premium.
Today’s IPO GMP indicates a solid listing based on gray market activity over the last 7 sessions. Experts at investorgain.com estimate a GMP range of ₹0 to ₹22.
The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.
If you want to know more details about the IPO, you can also read this article:
What Is an IPO? A Simple Guide to Initial Public Offerings
Garuda Construction About
Garuda Construction is a well-known construction business in Mumbai that specializes in a variety of projects such as residential, commercial, infrastructure, and industrial development. With a proven track record and a dedication to quality, the company has established itself as a dependable and trustworthy participant in the construction industry.
Garuda Construction offers a varied portfolio of projects, including luxury residential complexes and large-scale infrastructure works. Their competence includes building construction, interior design, project management, and real estate development. The organization is known for completing projects on time and within budget while maintaining the highest levels of quality and safety.
The experienced and devoted team of specialists at Garuda Construction is a major contributor to the company’s success. The company’s engineers, architects, and construction professionals have the abilities and experience required to successfully manage complicated projects and solve problems. Garuda Construction’s commitment to innovation and constant development keeps them ahead of industry trends and best practices.
In addition to its outstanding project execution capabilities, Garuda Construction is committed to sustainability and environmental responsibility. The organization is dedicated to incorporating environmentally responsible methods into its projects, such as energy-saving designs, waste management, and water conservation. This method benefits the environment while also increasing the value and appeal of their developments.
Garuda Construction’s initial public offering marks a key milestone in the company’s expansion. The company intends to use the proceeds from the IPO to expand operations, engage in new projects, and strengthen its financial situation. This would help Garuda Construction to continue providing high-quality construction solutions while also contributing to the development of India’s infrastructure.
Reasons to Consider Investing
- Strong Growth: Garuda Construction has demonstrated consistent growth in its revenue and profits over the past few years.
- Diverse Project Portfolio: The company’s expertise spans various sectors, reducing its reliance on any single project type.
- Experienced Management: The company’s management team has a proven track record in the construction industry.
- Positive Market Outlook: The Indian construction sector is expected to continue growing, providing opportunities for Garuda Construction.
