Garuda Construction and Engineering, Shiv Texchem IPOs open for subscription: What you need to know

2 min read | Updated on October 08, 2024, 10:19 IST

SUMMARY

Garuda Construction and Engineering will use ₹100 crore from fresh issue for working capital requirements. A part will also be used for general corporate purposes. The company's shares will be listed on the BSE and the National Stock Exchange (NSE).

Garuda Construction and Engineering, and Shiv Texchem IPOs will be open from October 8 to October 10.

Following a spectacular September with as many as 52 initial public offerings (12 mainboard and 40 SME), the primary market are witnessing a brief slowdown this week (October 7 to October 11). Two IPOs—Garuda Construction and Engineering Ltd and Shiv Texchem Ltd— opened from subscription on Tuesday, October 8, aiming to raise ₹365 crore.

Garuda Construction and Engineering IPO

The ₹264.1 crore Garuda Construction and Engineering IPO, which has set a price range of ₹92 to ₹95 per share, is a mix of a fresh issuance of 1.83 crore shares as well as an offer for sale (OFS) component of 95 lakh equity shares by promoter PKH Ventures.

The company will use ₹100 crore from fresh issue for working capital requirements. A part will also be used for general corporate purposes. The company's shares will be listed on the NSE and the BSE.

Garuda Construction and Engineering is a civil construction company that undertakes residential, industrial, commercial, and infrastructure projects. It has a presence in MMR (Mumbai Metropolitan Region), Karnataka, New Delhi, Arunachal Pradesh, Tamil Nadu, Punjab, and Rajasthan.

Also Read: Garuda Construction and Engineering IPO: Strengths, risks and financials

Shiv Texchem IPO

The ₹101.35 crore Shiv Texchem IPO is completely a fresh issuance of more than 61 lakh shares without an OFS component. The price band has been fixed at ₹158-₹166 per equity share.

The IPO proceeds will be used for working capital requirements and general corporate purposes. The company's shares will be listed on the BSE SME platform.

Shiv Texchem imports and distributes hydrocarbon-based chemicals, such as alcohols, aromatics, acetyls, monomers, nitriles, phenolics, isocyanates, glycols, and ketones.

To learn more about IPOs listing, schedule and upcoming IPOs, click here.

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Garuda Construction and Engineering, Shiv Texchem IPOs open for subscription: What you need to know

Garuda Construction and Engineering IPO

Shiv Texchem IPO

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