Garuda Construction IPO Description – Garuda Construction and Engineering is a burgeoning civil construction company. The company offers comprehensive civil construction services for residential, commercial, residential-cum-commercial, infrastructure, and industrial projects. Additionally, it provides services for infrastructure and hospitality projects. The company also offers operations and maintenance (O&M) services, Mechanical, Electrical, and Plumbing (MEP) services, and finishing works as part of its construction services.
As of May 2024, the company’s order book totals INR 1,408.27 crore. This includes 12 ongoing projects, with the following 7 projects each having a contract value exceeding 100 crores each. Due to the diverse locations of its projects in MMR, Punjab, Karnataka, New Delhi, Tamil Nadu, Rajasthan, and Arunachal Pradesh, it is challenging and impractical to move heavy equipment and machinery between these sites for project execution.
Promoters of Garuda Construction and Engineering – Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited, and Makindian Township Private Limited
Table of Contents
Garuda Construction IPO Details
| Garuda Construction IPO Dates | 8 – 10 October 2024 |
| Garuda Construction Issue Price | INR 92 – 95 per share |
| Fresh issue | 1,83,00,000 shares (INR 168.36 – 173.85 crore) |
| Offer For Sale | 95,00,000 shares (INR 87.40 – 90.25 crore) |
| Total IPO size | 2,78,00,000 shares (INR 255.76 – 264.10 crore) |
| Minimum bid (lot size) | 157 shares (INR 14,915) |
| Face Value | INR 5 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Garuda Construction and Engineering Financial Performance
| Â | FY 2022 | FY 2023 | FY 2024 | 1M FY 2025 |
| Revenue | 77.02 | 160.69 | 154.18 | 11.88 |
| Expenses | 52.24 | 105.94 | 104.82 | 7.20 |
| Net income | 18.78 | 40.80 | 36.44 | 3.50 |
| Margin (%) | 24.38 | 25.39 | 23.63 | 29.46 |
Garuda Construction and Engineering Offer News
- Garuda Construction and Engineering RHP
- Garuda Construction and Engineering DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Garuda Construction and Engineering Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 2.51 | 5.46 | 4.88 | 3.92 |
| PE Ratio | – | – | 18.86 – 19.47 | 23.48 – 24.25 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 44.94 | 49.38 | 30.62 |
| NAV | 5.59 | 11.06 | 15.93 |
| ROCE (%) | 40.46 | 70.85 | 46.69 |
| EBITDA (%) | 35.27 | 34.85 | 32.49 |
| Debt/Equity | 0.29 | – | – |
Garuda Construction IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 14 October 2024 | – | – | – |
| 11 October 2024 | – | – | – |
| 10 October 2024 | 5 | – | 600 |
| 9 October 2024 | 7 | – | 1,100 |
| 8 October 2024 | 10 | – | 2,300 |
| 7 October 2024 | 22 | – | – |
Garuda Construction IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Working Capital Requirement – INR 100 crore
- General corporate purposes
Garuda Construction and Engineering – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV |
| Garuda Construction & Engineering | 23.48 – 24.25 | 3.92 | 30.62 | 15.93 |
| PSP Projects | 20.00 | 34.16 | 17.73 | 254.13 |
| Capacite Infraprojects | 23.61 | 16.09 | 9.35 | 223.44 |
| Vascon Engineers | 22.66 | 3.05 | 11.32 | 44.33 |
| Ahluwalia Contracts (India) | 22.97 | 55.95 | 17.14 | 238.84 |
| B L Kashyap & Sons | 48.67 | 2.33 | 13.38 | 22.02 |
Garuda Construction IPO Allotment Status
Garuda Construction IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Garuda Construction IPO Dates & Listing Performance
| IPO Opening Date | 8 October 2024 |
| IPO Closing Date | 10 October 2024 |
| Finalization of Basis of Allotment | 11 October 2024 |
| Initiation of refunds | 14 October 2024 |
| Transfer of shares to demat accounts | 14 October 2024 |
| Garuda Construction IPO Listing Date | 15 October 2024 |
| Opening Price on NSE | INR 105 per share (up 10.53%) |
| Closing Price on NSE | INR 106.36 per share (up 11.96%) |
Garuda Construction IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi –
Axis Capital – Not rated
Arihant Capital – Subscribe for listing gains
Ashika Research –
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities – Avoid
Choice Broking –
Dalal & Broacha –
Elite Wealth – Not rated
HDFC Securities – Not rated
Geojit –
GEPL Capital – Avoid
Hem Securities – Neutral
ICICIdirect –
Indsec –
Jainam Broking – Avoid
DR Choksey –
JM Financial – Not rated
Marwadi Financial – Subscribe
Systematix Shares –
Mehta Equities –
Nirmal Bang –
Reliance Securities –
Sushil Finance –
Samco Securities – Not rated
SBI Securities –
SMC Global – 1/5
SMIFS –
Swastika Investmart – Subscribe
Ventura Securities – Not rated
Garuda Construction and Engineering Offer Lead Manager
CORPWIS ADVISORS PRIVATE LIMITED
510, 5th Floor, Dilkap Chambers, Plot – A/7 Veera Desai Road,
Andheri (West), Mumbai, 400053 Maharashtra, INDIA
Phone: +91 22 4972 9990
Email:Â [email protected]
Website: www.corpwis.com
Garuda Construction and Engineering Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone:Â +91 810 811 4949
Email:Â [email protected]
Website:Â www.linkintime.co.in
Garuda Construction IPO Contact Details
GARUDA CONSTRUCTION AND ENGINEERING LIMITED
201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051, Maharashtra
Phone:Â +91 22 79635174
Email: [email protected]
Website: www.garduaconstructionengineering.com
Garuda Construction IPO FAQs
How many shares in the Garuda Construction IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for Garuda Construction Public Offer?
The best way to apply for Garuda Construction’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Garuda Construction IPO GMP today?
Garuda Construction IPO GMP today is INR per share.
What is Garuda Construction’s kostak rate today?
Garuda Construction kostak rate today is INR NA per application.
What is Garuda Construction Subject to the Sauda rate today?
Garuda Construction Subject to Sauda rate today is INR per application.
