October 15, 2024
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Garuda Construction IPO GMP grey market premium, review, Subscription, allotment, listing estimate @ Chanakyanipothi.com
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What is the latest news relating to Garuda Construction IPO?
On 15th October 2024, the shares of Garuda Constuction are listed at Rs.105, premium of 10.53% over the issue price.
What is the latest GMP of Garuda Construction IPO?
Garuda Construction IPO Subscription Status
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Garuda Constuction IPO Subscriptions @ 5.00pm |
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 1.24 | 7.93 | 11.23 | 9.03 | 10.81 | 7.55 |
| Applications: 705000/ (11.38x) Amount wise Bids recd. Rs. ? Crore |
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Garuda Construction IPO Allotment Link:
We will provide allotment link, once the allotment is finalised.
Who is the promoter of Garuda Construction IPO?
PRAVINKUMAR BRIJENDRA KUMAR AGARWAL, PKH VENTURES LIMITED AND MAKINDIAN TOWNSHIP PRIVATE LIMITED
What are the Objects of Garuda Construction IPO?
The Offer comprises of fresh issue of shares & also an Offer for Sale by the Selling Shareholders.
The Company proposes to utilise the Net Proceeds towards funding the following objects
- Capital expenditure towards purchase of construction equipment
2. Funding long term working capital requirements
3. Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by the Company
4. General corporate purpose
A Note on the business of Garuda Construction?
The Company, is a growing civil construction company with growth in revenue from operations. It started the civil construction work in hospitality sector with Golden Chariot Vasai Hotel & Spa in the year 2010. It began its journey as an in-house construction company. It provide end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure and industrial projects and additional services for infrastructure and also hospitality projects, Wherein, civil construction includes construction of residential, hospitality, industrial, infrastructural and commercial buildings, construction of concrete building structures and composite steel structures which are required for the civil construction.
In the year 2017, it commenced the civil construction of residential buildings in the Mumbai Metropolitan Region (“MMR”) named the Rivali park, Kandivali, dated June 30, 2017. In 2021, it concluded civil construction of the Delhi Police Headquarters, for the concessionaire M/s. Eternal Building Assets Private Limited, (a group company), which is also one of its marquee projects, which involved construction of twin towers of seventeen (17) storeys each, with a complete glass façade and steel bridge connecting the two towers, admeasuring total construction area of 89,140.53 Sq. Mtrs. It is currently engaged in civil construction of six (6) residential projects, two (2) commercial projects, one (1) industrial project and one (1) infrastructure. As on the date of filling DRHP, its order book aggregates to Rs. 1,40,827.44 lakhs
For more information, click www.garduaconstructionengineering.com
Garuda Construction IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Garuda Construction IPO Details |
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| IPO opens on | 8 October 2024 |
| IPO closes on | 10 October 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 278,00,000 Shares / Rs 264.0 Crore |
| * Fresh Issue | 183,00,000 Sh / Rs 173.85 Cr |
| * Offer for Sale | 95,00,000 shares/ Rs.90.25 Crore |
| Face Value per share: | Rs. 5 |
| Price Band | Rs. 92-95 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 157 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Garuda Construction? | Shares | Rs. in Cr |
| QIB (50 %) | 13900000 | 132.05 |
| NII (15 %) | 4170000 | 39.62 |
| RII (35 %) | 9730000 | 92.43 |
| Employees | – | – |
| Total Shares | 27800000 | 264.10 |
| Retail portion will be oversubscribed by | 61974 Forms. | |
| How to apply in Garuda Construction IPO? | Amount Rs. |
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| Min Retail Application | 157 Shares | 14915 |
| Max Retail Application | 2041 Shares | 193895 |
| Small HNI (Min) application | 2198 Shares | 208810 |
| Small HNI (Max) application | 10519 Shares | 999305 |
| Big HNI Application | 10676 Shares | 1014220 |
What is the timetable of Garuda Construction IPO? |
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| IPO opens on | 8 October 2024 |
| IPO Closes on | 10 October 2024 |
| IPO Allotment on | 11 October 2024 |
| Unblocking of ASBA | 14 October 2024 |
| Credit of Shares | 14 October 2024 |
| Listing on | 15 October 2024 |
| Registered Office of Garuda Construction | |
| 201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra | |
| Who is the Lead Manager of Garuda Construction IPO? Corpwis Advisors Private Limited |
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| Registrar to IPO | |
| Link Intime India Pvt ltd |
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Garuda Construction IPO Financial & Analytical Ratios |
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| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2021-22 | 77.02 | 18.78 | 2.51 | 44.94 |
| 2022-23 | 160.69 | 40.80 | 5.46 | 49.38 |
| 2023-24 | 154.18 | 36.43 | 4.87 | 30.62 |
| Book Value of the Share on 31.03.2024 |
Rs. | |||
| BV after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 95 | ||
| Garuda Construction IPO Ratio Analysis |
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| Price /EPS | 19.51 |
| Price/Book Value Ratio | ? |
| Price/BV after IPO | ? |
How Garuda Construction IPO compares with the Peers?
Peer Comparison.
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Garuda Construction | 5 | 77 | 19.51 |
| PSP Projects | 10 | 183340 | 20.00 |
| Capacite Infra | 10 | 23.61 | |
| Vascon Engineers | 10 | 22.66 | |
| Ahluwalia Contracts | 2 | 22.97 | |
| BL Kashyap | 48.67 | ||
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Garuda Construction IPO Review
The Company is a growing civil construction company with growth in revenue from operations. It started the civil construction work in hospitality sector with Golden Chariot Vasai Hotel & Spa in the year 2010. and gradually started taking up other projects. At present, the company has strong topline and bottom-line. Looking to the investments coming in the infrastructure sector and with its own connections, one can safely assume that the company will continue to grab good slice of project. The shares are offered at reasonable valuation and there is scope for listing gains. However, in the long run, most of such tiny companies do not enjoy significant investor-fancy.
From listing gains angle, one may APPLY, and at the same time, one must not forget war-like situation prevailing at present. Such scenario may affect Sensex as well as listing gains of present IPOs.
Opens on 8th October 2024, Closes on 10th October 2024
Price band Rs. 92-95, Lot 157 shares
GMP as on 8th October 2024 Rs. 10
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