Garuda Construction and Engineering IPO: 10 key things to know before Oct 8 launch

Garuda Construction and Engineering IPO will open for public subscription on Tuesday, October 8. The mainboard initial public offering will close for subscription on Thursday, October 10. The company has fixed a price band of ₹92-₹95 per share for the ₹264.1 crore offer.

Garuda Construction and Engineering IPO: 10 key things to know

• The initial share sale consists of a fresh issue of 1.83 crore shares and an offer for sale (OFS) of 95 lakh shares by promoter PKH Ventures.
• The IPO size is worth ₹264.1 crore at the upper end of the price band.
• The money raised from the fresh issuance of shares will be used for working capital requirements and general corporate purposes.
• The company has reserved 50% of the issue for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors (NIIs).
• Investors can apply for at least 157 equity shares worth ₹14,444 and in multiples after that.
• The company had reported a net profit of ₹36.4 crore in the financial year 2024 as against ₹40.7 crore in FY23.
• Garuda Construction and Engineering's revenue from operations stood at ₹154 crore in FY24 compared to ₹160 crore in the previous fiscal.
• The book running lead manager for the issue is Corpwis Advisors, while Link Intime India is the registrar.
• The allotment status is likely to be finalised on October 11. Shares will be credited to the Demat account of successful investors on October 14.
• The company's shares will be listed on the NSE and the BSE on October 15.

Garuda Construction and Engineering is a civil construction firm undertaking residential, commercial, industrial and infrastructure projects. So far, it has completed nine projects and has 12 ongoing projects.