Garuda Construction and Engineering Ltd. was incorporated on September 21, 2010. It is a growing civil construction company, providing end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure, and industrial projects and additional services for infrastructure and also hospitality projects, Civil construction includes the construction of residential, hospitality, and industrial, infrastructural, and commercial buildings, construction of concrete building structures and composite steel structures which are required for the civil construction
| Bidding Dates |
|---|
| 08 Oct 2024 - 10 Oct 2024 |
| Subscription |
|---|
| 7.55x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,444 | 1 | 13 | 157 | 27.8 M | ₹92 - ₹95 | 67.56 % | ₹2557.6 M - ₹2641.0 M | RHP DOC |
Garuda Construction and Engineering Ltd. IPO SUBSCRIPTION STATUS
10 Oct '24Garuda Construction and Engineering Ltd. IPO overall subscription rate was 7.55 times the total available shares
Garuda Construction and Engineering Ltd. IPO retail subscription rate was 10.81 times in the retail segment
Garuda Construction and Engineering Ltd. IPO non-institutional investor subscription rate was 9.03 times in the non-institutional investor category
Garuda Construction and Engineering Ltd. IPO Qualified Institutional Bidder subscription rate was 1.24 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
10 Oct 2024 (Day 3) | 10.81x | 9.03x | 1.24x |
09 Oct 2024 (Day 2) | 6.73x | 2.58x | 0.91x |
08 Oct 2024 (Day 1) | 3.43x | 1.1x | 0.02x |
Garuda Construction and Engineering Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 1MFY25 | 35.0 | 118.8 | -1.3 | -1.3 | 39.7% |
| FY24 | 364.4 | 1,541.8 | -68.1 | -69.4 | 32.5% |
| FY23 | 408.0 | 1,606.9 | 122.6 | 119.5 | 34.9% |
| FY22 | 187.8 | 770.2 | 129.2 | 117.6 | 35.3% |
Garuda Construction and Engineering Ltd. IPO SUBSCRIPTION STATUS DETAILS
Garuda Construction and Engineering Ltd. had 27.8 M shares on offer
Garuda Construction and Engineering Ltd. IPO offer price was in the range ₹92 - ₹95
Garuda Construction and Engineering Ltd. IPO minimum Investment was ₹14444
Garuda Construction and Engineering Ltd. IPO issue size was ₹ 2557.6 M - ₹ 2641.0 M
Garuda Construction and Engineering Ltd. had a minimum lot size of 157 Shares per application
Garuda Construction and Engineering Ltd. NUMBER OF SHARES ON OFFER
Garuda Construction and Engineering Ltd. IPO IMPORTANT DATES
| Issue Open Date | 08 Oct 2024 |
| Issue close Date | 10 Oct 2024 |
| Allotment Date | 11 Oct 2024 |
| Refund Date | 14 Oct 2024 |
| Demat Account Credit Date | 14 Oct 2024 |
| Listing Date | 15 Oct 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Garuda Construction and Engineering Ltd. Allotment Status | Exchange |
Garuda Construction and Engineering Ltd. IPO subscription opened on 08 Oct 2024, and closed on 10 Oct 2024
IPO allotment for Garuda Construction and Engineering Ltd. was finalized on Friday, 11 Oct 2024
IPO listing for Garuda Construction and Engineering Ltd. was on NSE and BSE on Tuesday, 15 Oct 2024
Garuda Construction and Engineering Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 95.0 |
| Listing Open Price | 105.0 |
| Listing Close Price | 106.8 |
| Listing Gain% | 10.5% |
| Current Gain% | 90.0% |
Garuda Construction and Engineering Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Garuda Construction and Engineering Ltd. | 180.5 | 1679.4 | 13.7 | 0.1 | 3.2 | 27 | 19 | 534 | 134.8 | 122.5 | 146 | 13.2 | 146 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Garuda Construction and Engineering Ltd. INFORMATION ON IPO ISSUE
About Garuda Construction and Engineering Ltd.
Garuda Construction and Engineering Ltd. was incorporated on September 21, 2010. It is a growing civil construction company, providing end-to-end civil construction for residential, commercial, residential cum commercial, infrastructure, and industrial projects and additional services for infrastructure and also hospitality projects, Civil construction includes the construction of residential, hospitality, and industrial, infrastructural, and commercial buildings, construction of concrete building structures and composite steel structures which are required for the civil construction
Object of the Issue
- Working capital requirements
- General corporate expenses and unidentified inorganic acquisitions
- Issue expenses
Garuda Construction and Engineering Ltd. - PROMOTERS
| Name |
|---|
| Pravinkumar Brijendra Kumar Agarwal |
| PKH Ventures Limited |
| Makindian Township Private Limited |
Garuda Construction and Engineering Ltd. Book running lead manager
Corpwis Advisors Private Limited
ipo@corpwis.com
Garuda Construction and Engineering Ltd. Registrar to the issue
Link Intime India Private Limited
garudaconstructions.ipo@linkintime.co.in
Garuda Construction and Engineering Ltd. Strengths
Business approach
The company focuses on the civil construction of residential and commercial buildings and now venturing into industrial, and infrastructural projects. This focused business approach has enabled it to build a team of people with the right knowledge of relevant domains, skills, and experience
Proven track record
The company has established a track record of successfully executing a diverse mix of construction projects in residential, hospitality, and commercial projects
Visible growth
In the construction industry, an order book is considered one of the key indicators of future performance as it represents a portion of anticipated future revenue. The value of the company's projects in its order book amounted to a total of Rs 1,445.6 crore
Garuda Construction and Engineering Ltd. Risks
Negative cash flow
The company has had negative cash flow in recent fiscals. Sustained negative cash flow could adversely impact its business, financial condition, and results of operations
Labour-intensive
The company operates in a labour-intensive industry, hence it may face labour disruptions and other planned and unplanned outages that could interfere or temporarily disrupt its operations
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, promoter, certain directors, and group companies which may adversely affect its business, financial condition, and results of operations
IPO FAQs
This IPO consists of an offer for sale of up to Rs 90.2 crore, of 9,500,000 shares. It also consists of a fresh issue of Rs 173.8 crore.
The promoters of the company are Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited and Makindian Township Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 92.0 - 95.0.
The IPO application opens on Oct 08, 2024 and closes on Oct 10, 2024.
The minimum lot size for the IPO is 157. The maximum lot size for the IPO is 2041.
For all category investors, the minimum application amount for this IPO is Rs. 14,444.0, the maximum value for this IPO is Rs 193,895.0.
This IPO will be allotted on Oct 11, 2024.
The refund will be credited to your account on Oct 14, 2024.
The allotted shares will be credited to your demat on Oct 14, 2024.
Garuda Construction and Engineering Ltd.’s shares listed on the stock exchanges on Oct 15, 2024.