Garuda Construction and Engineering IPO Opened Today: Did You Subscribe?

Garuda Construction and Engineering IPO has opened for bidding on October 8, 2024 and closes on October 10, 2024.  Garuda Construction and Engineering IPO is a book-built issue of ₹264.10 crore. The issue is a combination of a fresh issue of 1.83 crore shares aggregating to ₹173.85 crores and an offer for sale of 0.95 crore shares aggregating to ₹90.25 crore.

Garuda Construction and Engineering IPO price band is set at ₹92 to ₹95 per share. The minimum lot size for an application is 157 Shares. The minimum amount of investment required by retail investors is ₹14,915. 

On  October 8, 2024, at 10:23 AM, 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.

At 08:56 Garuda Construction and Engineering IPO’s last GMP was ₹5,  With a 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%. 

On the Anchor bid date of October 7, 2024, Garuda Construction and Engineering IPO raised ₹75.00 crore from anchor investors.

Founded in 2010, Garuda Construction and Engineering Limited is a construction company, which provides comprehensive construction services for residential, commercial, residential/commercial, infrastructure, and industrial projects, as well as additional services for infrastructure and hospitality projects. The company also provides services such as operation and maintenance (O&M) and mechanical, electrical and plumbing (MEP) services as well as finishing works as part of construction services.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.