The IPO for Garuda Construction will commence on October 8, 2024, and end on October 10, 2024. This is a book-built issue of Garuda Construction. Through an initial public offering (IPO), the firm will collect approximately 264.10 crores, which will include a new issue of 173.85 crores and the sale of up to 95,00,000 equity shares with a face value of 5 apiece.
The pricing range for Garuda Construction’s IPO is ₹92 to ₹95 per share. HNI is 15%, QIB is 50%, and the retail quota is 35%. On October 15, 2024, Garuda Construction will go public on the BSE and NSE. The date of Garuda Construction’s first public offering is set for October 11, 2024.
The company reported revenue of ₹154.47 crores in 2024 against ₹161.02 crore in 2023. The company reported profit of ₹36.44 crores in 2024 against profit of 40.80 crores in 2023. As per the financials the IPO investors should apply the IPO for a long term.
Garuda Construction and Engineering IPO Details
| IPO Open Date: | October 8, 2024 |
| IPO Close Date: | October 10, 2024 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹92 to ₹95 Per Share |
| Issue Size: | Approx ₹264.10 Crores, 27,800,000 Equity Shares |
| Fresh Issue: | Approx ₹173.85 Crores, 18,300,000 Equity Shares |
| Offer for Sale: | Approx ₹90.25 Crores, 95,00,000 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Garuda Construction IPO Market Lot
The Garuda Construction IPO minimum market lot is 157 shares with ₹14,915 application amount. The retail investors can apply up-to 13 lots with 2041 shares or ₹193,895 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 157 | ₹14,915 |
| Retail Maximum | 13 | 2041 | ₹193,895 |
| S-HNI Minimum | 14 | 2,198 | ₹208,810 |
| B-HNI Minimum | 68 | 10,676 | ₹1,014,220 |
Garuda Construction and Engineering IPO Dates
The Garuda Construction IPO date is October 8 and the close date is October 10. The Garuda Construction IPO allotment will be finalized on October 11 and the IPO listing on October 15.
| IPO Open Date: | October 8, 2024 |
| IPO Close Date: | October 10, 2024 |
| Basis of Allotment: | October 11, 2024 |
| Refunds: | October 14, 2024 |
| Credit to Demat Account: | October 14, 2024 |
| IPO Listing Date: | October 15, 2024 |
Promoters of Garuda Construction IPO
The promoters of the company are Pravinkumar Brijendra Kumar Agarwal, PKH Ventures Limited, and Makindian Township Private Limited.
About Garuda Construction IPO
Garuda Construction is located in 201, A Wing, Fortune 2000 C 3 Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051, Maharashtra. Moreover, this company provides end provide end to end construction for commercial residential, infrastructure, cum commercial, and industrial projects and additional services. Wherein, civil construction includes the construction of residential hospitality, industrial infrastructural and commercial buildings, construction of concrete building structures.
Furthermore, this company has revenue operations of rs 8042.34 lakhs for the eight months ended November 30., while ₹ 16068.76 lakhs, ₹ 7702.08 lakhs, and ₹ 7195.52 lakhs or Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.
This company was incorporated as “Garuda Construction and Engineering Private Limited” on September 21, 2010, as a private limited company, per the provisions of the erstwhile Companies Act, of 1956, under a Certificate of Incorporation dated September 21, 2010. The company’s main aim is customer satisfaction and long-term relationships with consumers.
Garuda Construction IPO Company Financial Report
The company reported revenue of ₹154.47 crores in 2024 against ₹161.02 crore in 2023. The company reported profit of ₹36.44 crores in 2024 against profit of 40.80 crores in 2023.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2022 | ₹77.03 | ₹52.24 | ₹18.78 | ₹111.03 |
| 2023 | ₹161.02 | ₹105.94 | ₹40.80 | ₹176.35 |
| 2024 | ₹154.47 | ₹104.82 | ₹36.44 | ₹228.49 |
| April 2024 | ₹11.88 | ₹7.20 | ₹3.50 | ₹234.84 |
Garuda Construction IPO Valuation – FY2024
Check Garuda Construction IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 36.14% |
| ROCE: | 46.69% |
| EBITDA Margin: | 32.49% |
| PAT Margin: | 23.63% |
| Debt to equity ratio: | NA |
| Earning Per Share (EPS): | ₹4.87 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 30.62% |
| Net Asset Value (NAV): | ₹15.92 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| PSP Projects Limited | 34.16 | 20.00 | 17.73% | 254.13 | – Cr. |
| Capacite Infraprojects Limited | 16.09 | 23.61 | 9.35% | 223.44 | – Cr. |
| Vascon Engineers Limited | 3.05 | 22.66 | 11.32% | 44.33 | – Cr. |
| Ahluwalia Contracts (India) Limited | 55.95 | 22.97 | 17.14% | 238.84 | – Cr. |
| B L Kashyap & Sons Limited | 2.33 | 48.67 | 13.38% | 22.02 | – Cr. |
Objects of the Issue
- Working Capital Requirements
- General Corporate Expenses and unidentified inorganic acquisitions
Check IPO ALLOTMENT STATUS – here
Garuda Construction IPO Registrar
Link Intime India Pvt Ltd – Check Allotment Status
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Phone: +91 810 811 4949
Email: garudaconstructions.ipo@linkintime.co.in
Website: www.linkintime.co.in
IPO Lead Managers aka Merchant Bankers
- Corpwis Advisors Private Limited
Company Address
Garuda Construction and Engineering Limited
201, A Wing, Fortune 2000 C -3 Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051, Maharashtra
Phone: +91 22 79635174
Email: compliance@garudaconstructionengineering.com
Website: www.garduaconstructionengineering.com
Note: The Garuda Construction IPO price band and date are officially announced. The (Garuda Construction IPO grey market premium) will be added to the IPO GMP page as it will start).
Check IPO ALLOTMENT STATUS – here