Garuda Construction and Engineering Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹90 - ₹95
- Lot size
- 157 shares
- Issue amount
- ₹264.1 cr
- Total subscription
- 7.55×
- Opens
- 8 Oct 2024
- Closes
- 10 Oct 2024
- Allotment
- 11 Oct 2024
- Listing
- 15 Oct 2024
Offer at a glance
Issue overview
- Issue size
- 2,78,00,000 shares
- Face value
- ₹5 per share
- Minimum investment
- ₹14,130
- Fresh issue
- ₹173.85 cr
- Offer for sale
- ₹90.25 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,915
- Issue type
- Bookbuilding IPO
- Shares before issue
- 7,47,41,742
- Shares after issue
- 9,30,41,742
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 157 | ₹14,915 |
| sHNI | 14 | 2,198 | ₹2,08,810 |
| bHNI | 68 | 10,676 | ₹10,14,220 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| HNIs (10L+) | 1,265 | 1,935 |
| HNIs (2-10L) | 632 | 6,392 |
| RETAIL | 61,975 | 6,96,675 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 57.05 | 0 |
| RETAIL | 92.44 | 0 |
| NIB | 39.62 | 0 |
| HNIs 2+ | 13.21 | 0 |
| HNIs 10+ | 26.41 | 0 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| EPS | 4.87 | 5.46 | 2.51 |
| ROE | 36.14 | 65.59 | 57.97 |
| ROCE | 46.69 | 70.85 | 40.46 |
| RONW | 30.62 | 49.38 | 44.94 |
| PRE IPO(PE) | 19.49 | 0 | 0 |
| POST IPO(PE) | 21.03 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Garuda Construction and Engineering Limited, established in 2010, is a versatile construction company offering services across residential, commercial, infrastructure, and industrial projects. Along with core construction, it specializes in operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, and finishing works. The company also handles infrastructure and hospitality projects, ensuring end-to-end project execution. As of September 28, 2024, Garuda had a dedicated team of 65 permanent employees, supporting its wide range of services.
Strengths
- Specialized & Growing: The company focuses on residential and commercial construction while expanding into industrial and infrastructure projects, showcasing strategic growth.
- Strong Track Record: With successful projects like the Golden Chariot hotels and multiple residential developments in MMR, the company has built a reputation for quality and reliability.
- Expert Project Management: Its strong execution and management skills ensure efficient project completion across various regions, including MMR, Karnataka, and Tamil Nadu.
Risk factors
- Revenue Dependence on Key Clients: A large portion of Afcons' revenue comes from its top 10 clients, mainly related to its parent company. Losing any major client could have a big financial impact.
- Limited Work with External Clients: Afcons has less experience working with independent third-party clients. Expanding beyond its promoter group is essential for long-term growth.
- Industry Ups & Downs: The construction sector is affected by economic changes. Slowdowns in the economy could impact Afcons' projects and financial stability.
Promoters
Pravinkumar Brijendra Kumar Agarwal
PKH Ventures Limited
Makindian Township Private Limited
Registrar & documents
Lead manager
Corpwis Advisors Private Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051
+91 22 79635174
[email protected]Company website ↗Understanding GARUDA IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.