New Delhi: Garuda Construction IPO dates are from Tuesday, October 08, 2024 to Thursday, October 10, 2024. The civil construction services company Garuda Construction and Engineering has set the price band of its public issue at Rs 92-95 per share. The IPO constitutes issue of 1.83 crore fresh equity and Offer For Sale (OFS) of 95 lakh shares by promoters. This means promoters will also sale their stake. IPO proceeds will be used for general corporate purposes.
Garuda Construction IPO GMP Today
Garuda Construction IPO GMP today was quoted at Rs 10 by Investor Gain. Considering the upper limit of Garuda Construction IPO’s price band and the latest grey market premium, listing price of Rs 105 can be estimated. This also signals listing gains of 10% for probable IPO allottees. Albeit, grey market premium cannot be considered as official figure!
Garuda Construction IPO Retail Investors’ Quota:
At upper end of the price band, retail investors can subscribe the IPO with a minimum of Rs 13,965. The minimum lot size is 157 shares and in multiples thereof. The company has reserved 50% of the issue size for Qualified Institutional Buyers (QIBs). While, 35% of the subscription size has been booked for retail investors and 15% for Non-Institutional Investors (NIIs).
Garuda Construction IPO Allotment Date, Listing Date
Garuda Construction IPO Allotment Date is tentatively Friday, October 11, 2024. While, listing date is tentatively Tuesday, October 15, 2024 on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE.)
FY24 Financial Results
The company’s revenue from operations was Rs 154 crore in Financial Year 2023-24 (FY24) compared to Rs 160 crore in the previous fiscal. While, Profit After Tax (PAT) stood at Rs 36 crore in fiscal 2024.
About Garuda Construction and Engineering
Mumbai based Garuda Construction and Engineering is an EPC (Engineering, Procurement, and Construction) specialist. The company offers comprehensive civil construction services for residential, commercial, infrastructure, and industrial sectors.
