Garuda Construction and Engineering IPO allotment finalised: How to check status online on NSE, Link Intime India

Garuda Construction and Engineering Limited IPO allotment status was finalised on Friday, October 11, after the successful subscription.

In the retail category, the mainboard issue received bids for over 10.52 crore shares against 97.3 lakh shares reserved for the segment. The retail portion of the IPO was booked 10.81 times. The non-institutional investors (NIIs) booked their quota 9 times by applying for more than 3.76 crore shares against 41.7 lakh shares on offer.

The mainboard issue was booked 1.24 times in the qualified institutional buyers (QIBs) category with bids for 74.71 lakh shares compared to the 60.04 lakh shares reserved for the segment.

The investors, who applied for shares of Garuda Construction and Engineering Limited in the IPO, can check the share allotment status online via the website of the issue registrar Link Intime India Private Ltd. Alternatively, the share allotment status can also be checked on the BSE and NSE websites.

Steps to check Garuda Construction and Engineering IPO allotment status on NSE

• Visit the NSE IPO allotment status page
• Enter your username and password to login (New users will have to create a login id afresh on the NSE website)
• Look for ‘Garuda Construction and Engineering’ in the drop-down menu
• Type in PAN details
• Enter your IPO application Number
• Click the ‘I am not a Robot’ checkbox
• Click the ‘Submit’ button

How to check Garuda Construction and Engineering IPO allotment status on Link Intime India

• Visit the Link Intime India Pvt Ltd website- https://www.linkintime.co.in/
• Navigate to the Investor Services section and select Public Issues
• Go to the drop-down menu and choose ‘Garuda Construction and Engineering’
• Enter any of these details— Application Number, DP/Client ID, PAN, or Account No/IFSC
• Submit to check the share allotment status

Garuda Construction and Engineering IPO details

Garuda Construction and Engineering IPO consisted of a fresh issue of 1.83 crore shares, aggregating to ₹173.85 crore, and an offer-for -sale (OFS) of 95 lakh shares, amounting to ₹90.25 crore.

The IPO price band was fixed at ₹90 to ₹95 per share. The minimum lot size for retail investors was fixed at 157 shares, which aggregated to an investment of ₹14,915.

After the IPO allotment status is finalised by the company, refunds will be initiated for unsuccessful bidders on Monday, October 14, and shares will be credited to the Demat accounts of successful bidders the same day.

The tentative listing date for Garuda Construction and Engineering shares has been fixed as Tuesday, October 15. Garuda Construction and Engineering shares will be listed on both the NSE and BSE.

Garuda Construction and Engineering IPO objective

The company plans to use the money raised via the public issue for working capital requirements, general corporate expenses, and funding inorganic acquisitions.

About Garuda Construction and Engineering Limited

Garuda Construction and Engineering Limited, founded in 2010, provides construction services for residential, commercial and industrial projects. The company also works in allied fields such as operation and maintenance (O&M), and mechanical, electrical and plumbing (MEP) services.