New Delhi: Garuda Construction IPO GMP today fell in the grey market as the Rs 264 crore public issue opened for bidding rounds on Tuesday, October 08, 2024. The company’s shares’ grey market premium has fallen in run up to the commencement of the stake sale process. While, Garuda Construction IPO subscription status was not even full after two hours of opening of the bidding rounds.
Garuda Construction IPO GMP today
Garuda Construction IPO GMP today stood at Rs 5, according to InvestorGain. Considering the upper limit of the Garuda Construction IPO’s price band of Rs 92-95 per share, and the latest grey market premium, the Garuda Construction IPO’s listing price of Rs 100 can be estimated. At this premium, the company’s shares may make listing gains of just 5% on the bourses.
Garuda Construction IPO Subscription Status:
According to Chittorgarh, Garuda Construction IPO Subscription Status was slightly more than half full (67%) by 11:45 am on Tuesday. While, Garuda Construction retail quota was subscribed 100%. And, Qualified Institutional Buyers (QIBs) and Non-Institutional Investors’ category subscription status lagged behind retail quota.
Garuda Construction IPO Allotment Date, Listing Date
Garuda Construction IPO Allotment Date is tentatively fixed at October 11, 2024. While, Garuda Construction IPO listing date is tentatively on October 15.
Garuda Construction IPO Anchor Investor Details
The company had raised Rs 75 crore from anchor investors. Some of the prominent investors were AG Dynamic Funds, Trust Mutual Fund, Maybank Securities Pte Ltd, North Star Opportunities Fund VCC, Resonance Opportunities Fund, Bridge India Fund, and Cognizant Capital Dynamic Opportunities Fund, etc.
Garuda Construction IPO Key Details
The retail investors can subscribe 35% of the total issue size. While, the QIBs’ quota has been kept reserved at 50%. NIIs on the other hand can subscribe 15% of the total size. At upper end of the price band, retail investors can subscribe the stake sale process with a minimum of Rs 13,965. The minimum lot size is 157 shares and in multiples thereof.
