What are the important dates for the Garuda Construction and Engineering IPO?

Key dates for the Garuda Construction and Engineering IPO include: IPO Open Date: October 8, 2024 IPO Close Date: October 10, 2024 Basis of Allotment: October 11, 2024 Initiation of Refunds: October 14, 2024 Credit of Shares to Demat: October 14, 2024 Listing Date: October 15, 2024

What is the price band and lot size for the Garuda Construction and Engineering IPO?

The price band for the Garuda Construction and Engineering IPO is set at ₹92 to ₹95 per share, with a minimum lot size of 157 shares. Retail investors need to invest a minimum amount of ₹14,915 for one lot, while small and new institutional investors (sNII) and broad-based new institutional investors (bNII) have higher minimum investment requirements.

What are the financial metrics for Garuda Construction and Engineering Limited as of April 30, 2024?

As of April 30, 2024, Garuda Construction and Engineering Limited reported the following financial metrics (in ₹ Crore): Assets: 234.84 Revenue: 11.88 Profit After Tax (PAT): 3.5 Net Worth: 122.51 Reserves and Surplus: 85.16 Total Borrowing: 0.15

What are the key strengths of Garuda Construction and Engineering Limited?

Garuda Construction and Engineering Limited’s key strengths include: Focused Business Approach: Specializes in residential and commercial construction while expanding into industrial and infrastructure projects. Proven Track Record: Successfully completed notable projects, enhancing credibility. Strong Project Management: Demonstrates exceptional capabilities in project execution. Robust Financial Performance: Consistent revenue growth indicates financial stability. Increasing Order Book: A substantial order value for ongoing and pending projects supports sustained growth.

Garuda Construction and Engineering Limited IPO (Garuda Construction and Engineering IPO) Detail, IPO Date, Price, GMP & Allotment 2024

Garuda Construction and Engineering Limited IPO Overview

The Garuda Construction and Engineering IPO is a book-built issue valued at ₹264.10 crores, comprising a fresh issue of 1.83 crore shares (₹173.85 crores) and an offer for sale of 0.95 crore shares (₹90.25 crores). The IPO opens for subscription from October 8 to October 10, 2024, with allotments expected to be finalized on October 11, 2024. The shares will be listed on BSE and NSE on October 15, 2024.

The price band for the IPO is set at ₹92 to ₹95 per share, with a minimum lot size of 157 shares, requiring a retail investment of ₹14,915. Small and new institutional investors (sNII) need to apply for a minimum of 14 lots (2,198 shares), totaling ₹208,810, while broad-based new institutional investors (bNII) must apply for 68 lots (10,676 shares), amounting to ₹1,014,220. The book running lead manager is Corpwis Advisors Private Limited, and the registrar is Link Intime India Private Ltd.

Refer to Garuda Construction and Engineering IPO RHP for detailed information.

Garuda Construction and Engineering Limited IPO Important dates

Garuda Construction and Engineering IPO opens on October 8, 2024, and closes on October 10, 2024.

IPO Open Date	Tuesday, October 8, 2024
IPO Close Date	Thursday, October 10, 2024
Basis of Allotment	Friday, October 11, 2024
Initiation of Refunds	Monday, October 14, 2024
Credit of Shares to Demat	Monday, October 14, 2024
Listing Date	Tuesday, October 15, 2024
Cut-off time for UPI mandate confirmation	5 PM on October 10, 2024

Garuda Construction and Engineering Limited Financial Performance

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.

Financial Metrics	30 Apr 2024 (₹ Crore)	31 Mar 2024 (₹ Crore)	31 Mar 2023 (₹ Crore)	31 Mar 2022 (₹ Crore)
Assets	234.84 crore	228.49 crore	176.35 crore	111.03 crore
Revenue	11.88 crore	154.47 crore	161.02 crore	77.03 crore
Profit After Tax (PAT)	3.5 crore	36.44 crore	40.8 crore	18.78 crore
Net Worth	122.51 crore	119.01 crore	82.61 crore	41.79 crore
Reserves and Surplus	85.16 crore	81.65 crore	70.13 crore	29.34 crore
Total Borrowing	0.15 crore	0.15 crore	0.19 crore	11.99 crore

Garuda Construction and Engineering Limited IPO Key Performance Indicator

The market capitalization of Garuda Construction and Engineering IPO is Rs 883.9 Cr. KPI as of March 31, 2024.

KPI	Values
ROE	36.14%
ROCE	46.69%
RoNW	30.62%
P/BV	5.97
PAT Margin (%)	23.63

	Pre IPO	Post IPO
EPS (Rs)	4.87	4.52
P/E (x)	19.49	21.03

Garuda Construction and Engineering Limited IPO Objectives

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

Working Capital Requirements
General Corporate Expenses and Unidentified Inorganic Acquisitions

Garuda Construction and Engineering Limited IPO Lot Size

Investors can bid for a minimum of 157 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application	Lots	Shares	Amount
Retail (Min)	1	157	₹14,915
Retail (Max)	13	2041	₹193,895
S-HNI (Min)	14	2,198	₹208,810
S-HNI (Max)	67	10,519	₹999,305
B-HNI (Min)	68	10,676	₹1,014,220

Garuda Construction and Engineering Limited IPO Details

IPO Date	October 8, 2024 to October 10, 2024
Listing Date	[October 15, 2024]
Face Value	₹5 per share
Price Band	₹92 to ₹95 per share
Lot Size	157 Shares
Total Issue Size	27,800,000 shares (aggregating up to ₹264.10 Cr)
Fresh Issue	18,300,000 shares (aggregating up to ₹173.85 Cr)
Offer for Sale	9,500,000 shares of ₹5 (aggregating up to ₹90.25 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre issue	74,741,742
Shareholding post issue	93,041,742

Garuda Construction and Engineering Limited Company Overview and Services

Garuda Construction and Engineering Limited was established in 2010 and specializes in comprehensive construction services across various sectors, including residential, commercial, infrastructure, and industrial projects. The company also offers operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, along with finishing works as part of its construction offerings.

Strengths of Garuda Construction and Engineering Limited:

Focused Business Approach: The company primarily targets residential and commercial building construction while expanding into industrial and infrastructure projects.
Proven Track Record: Garuda has successfully completed notable projects such as the Golden Chariot Vasai Hotel & Spa and Golden Chariot Boutique Hotel in 2015. Since 2017, it has focused on residential projects in the Mumbai Metropolitan Region (MMR), completing two significant developments. Between 2010 and 2017, the company concentrated on civil engineering projects across MMR, Karnataka, and Tamil Nadu.
Strong Project Management: The company demonstrates exceptional project management and execution capabilities, ensuring timely and efficient delivery.
Robust Financial Performance: Garuda reported a Revenue from Operations of ₹1,187.50 Lacs for the period ending April 30, 2024, ₹15,417.83 Lacs in FY 2024, and ₹16,068.76 Lacs in FY 2023, reflecting its financial stability and growth.
Increasing Order Book: As of September 28, 2024, the company’s order value for ongoing and pending projects reached ₹1,40,827.44 Lacs, with projects distributed across MMR, Arunachal Pradesh, Karnataka, Rajasthan, and Punjab. This diverse portfolio supports sustained growth and a strong market reputation.
Experienced Management: The company is led by a knowledgeable promoter, directors, and management team. As of September 28, 2024, Garuda employs 65 permanent staff, enhancing its operational capabilities and efficiency.

Garuda Construction and Engineering Limited IPO SWOT Analysis

Strengths

Established Reputation: A proven track record in executing successful projects like the Golden Chariot Vasai Hotel & Spa, which enhances credibility.
Diverse Service Offerings: Comprehensive construction services spanning residential, commercial, industrial, and infrastructure projects.
Strong Financial Performance: Robust revenue growth, with reported revenues of ₹15,417.83 Lacs in FY 2024, indicating financial health.
Growing Order Book: An impressive order value of ₹1,40,827.44 Lacs as of September 28, 2024, showcases potential for sustained business activity.

Weaknesses

Limited Brand Recognition: Compared to larger competitors, Garuda may have less brand visibility in the broader market.
Dependency on Specific Regions: A significant focus on projects in the Mumbai Metropolitan Region (MMR) and a few other states may limit diversification.
Scale of Operations: With 65 permanent employees, the company may face challenges in scaling operations to meet increasing demand.

Opportunities

Infrastructure Growth: The growing demand for infrastructure development in India presents opportunities for expansion.
Diversification: Expanding into new geographic markets and sectors can help mitigate regional dependency.
Public-Private Partnerships (PPP): Engaging in PPP projects can lead to increased business opportunities and government contracts.

Threats

Intense Competition: The construction sector is highly competitive, with numerous players vying for market share, which could pressure margins.
Economic Downturns: Economic fluctuations and uncertainties can impact construction demand and project financing.
Regulatory Changes: New regulations or changes in existing laws could affect operational costs and project timelines.

Garuda Construction and Engineering Limited IPO GMP Details

Garuda Construction and Engineering IPO last GMP is ₹5, last updated Oct 5th 2024. With the price band of 95.00, Garuda Construction and Engineering IPO’s estimated listing price is ₹100 (cap price + today’s GMP).The expected percentage gain/loss per share is 5.26%.

Stay with us to know the daily price trend of Garuda Construction and Engineering IPO GMP with expected listing price.

GMP Date	IPO Price	GMP	Sub2 Sauda Rate	Estimated Listing Price	Last Updated
08-10-2024 Open	95.00	₹5	600/8400	₹100 (5.26%)	8-Oct-2024
07-10-2024	95.00	₹5	600/8400	₹100 (5.26%)	7-Oct-2024
06-10-2024	95.00	₹22	2600/36400	₹117 (23.16%)	6-Oct-2024
05-10-2024	95.00	₹18	2100/29400	₹113 (18.95%)	5-Oct-2024
04-10-2024	95.00	₹0	—	₹95 (0%)	4-Oct-2024
03-10-2024	95.00	₹0	—	₹95 (0%)	3-Oct-2024
02-10-2024	95.00	₹0	—	₹95 (0%)	2-Oct-2024
01-10-2024	95.00	₹0	—	₹95 (0%)	1-Oct-2024

Garuda Construction and Engineering Limited IPO subscription status

Garuda Construction and Engineering IPO subscribed 0.17 times. The public issue subscribed 0.31 times in the retail category, 0.00 times in QIB, and 0.09 times in the NII category by October 8, 2024.

Investor Category	Subscription (times)	Shares Offered*	Shares bid for	Total Amount (Rs Cr.)*
Anchor Investors	1	78,95,138	78,95,138	75.004
Qualified Institutions	0.00	60,04,862	0	0
Non-Institutional Buyers	0.09	41,70,000	3,95,012	3.753
bNII (bids above ₹10L)	0.02	27,80,000	61,073	0.580
sNII (bids below ₹10L)	0.24	13,90,000	3,33,939	3.172
Retail Investors	0.31	97,30,000	30,61,500	29.084
Total **	0.17	1,99,04,862	34,56,512	32.837

Total Application : 114,663

Note:

*: “Shares Offered” and “Total Amount” are calculated based on the upper price of the issue price range.
**: The portion of anchor investors (or market makers) is not included in the total number of shares offered.

Garuda Construction and Engineering IPO Subscription Details (times)

Date	QIB	NII	Retail	Total
Day 1 Oct 8, 2024	0.00	0.09	0.31	0.17

Garuda Construction and Engineering Limited IPO Allotment status

The allotment status of Garuda Construction and Engineering IPO is expected to be available on October 11, 2024.

Garuda Construction and Engineering IPO allotment status is not available at this time. Garuda Construction and Engineering IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Garuda Construction and Engineering Limited IPO allotment status.

To check Garuda Construction and Engineering IPO allotment status, follow the steps below:

Click on the below allotment status check button.
Select Company Name.
Enter your PAN Number, Application Number or DP Client ID (Anyone).
Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Link Intime India Private Ltd either by phone or email. Investors can call on +91-22-4918 6270 or send an email with all relevant details to garudaconstructions.ipo@linkintime.co.in.

Garuda Construction and Engineering Limited Contact Details

Garuda Construction and Engineering Limited
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/

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.

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