The Garuda Construction and Engineering Limited IPO is set to open soon, offering a unique opportunity for investors in the construction sector. This article provides a comprehensive overview of the IPO, including key dates, company details, GMP (Grey Market Premium), allotment process, and more.
Company Overview
Garuda Construction and Engineering Limited is based in Bandra Kurla Complex, Mumbai, and specializes in providing end-to-end construction solutions for various sectors, including commercial, residential, industrial, and infrastructure projects. Their expertise encompasses the construction of concrete buildings, hospitality projects, and large-scale commercial infrastructure.
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Garuda Construction and Engineering Limited IPO Details
Key Highlights
- 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, comprising 27,800,000 equity shares
- Fresh Issue: Approx ₹173.85 crores (18,300,000 equity shares)
- Offer for Sale: Approx ₹90.25 crores (9,500,000 equity shares)
- Issue Type: Book Built Issue
- IPO Listing: BSE & NSE
Subscription Quotas
- Retail Quota: Not more than 35%
- QIB Quota: Not more than 50%
- NII Quota: Not more than 15%
Grey Market Premium (GMP)
The current GMP for the Garuda Construction IPO is yet to be determined. Here are the live rates for the GMP and Kostak as of October 4, 2024:
| Date | IPO GMP | Kostak | Subject to |
|---|---|---|---|
| Today | ₹- | ₹- | ₹- |
| 04 October | ₹- | ₹- | ₹- |
| 03 October | ₹- | ₹- | ₹- |
| 02 October | ₹- | ₹- | ₹- |
| 01 October | ₹- | ₹- | ₹- |
Allotment Process
The allotment process for the Garuda Construction IPO will be conducted as follows:
- Application: Investors can apply through various platforms, including banks and online brokerage services.
- Allotment: Shares will be allocated based on demand, with retail investors receiving shares via a lottery system.
- Refunds: Investors who do not receive allotment will have their application money refunded.
Garuda Construction and Engineering Limited IPO Important Dates
- Basis of Allotment: October 11, 2024
- Refunds Initiated: October 14, 2024
- Credit to Demat Account: October 14, 2024
- IPO Listing Date: October 15, 2024
Subscription Status
The subscription period for the Garuda Construction and Engineering Limited IPO is expected to run from [Start Date] to [End Date]. Keep an eye on the subscription status, as it can provide insights into investor interest and the potential success of the IPO. The status will be updated daily, reflecting the number of shares subscribed in different categories (retail, institutional, etc.).
Garuda Construction and Engineering Limited IPO Listing Details
After the allotment process, the shares of Garuda Construction and Engineering Limited are expected to be listed on [Stock Exchange Name] on [Listing Date]. The GMP and overall market conditions will influence the expected listing price.
Conclusion
The Garuda Construction and Engineering Limited IPO presents an attractive opportunity for investors looking to tap into the thriving construction sector. With its solid fundamentals and a well-structured IPO process, this offering could be a valuable addition to your investment portfolio.
FAQs About Garuda Construction and Engineering Limited IPO
What is the IPO size of Garuda Construction and Engineering Limited?
The IPO size is expected to be around ₹264.10 crores.
What is the GMP for the Garuda Construction and Engineering Limited IPO?
The current GMP stands at ₹90-95.
When is the subscription period for the IPO?
The subscription period will be announced soon.
How can I apply for the Garuda Construction and Engineering Limited IPO?
You can apply online through your bank or investment platforms.
What is the allotment process for the IPO?
Allotment will be based on demand and conducted via a lottery system for retail investors.
When will the shares be listed?
Shares are expected to be listed on [Listing Date].
What factors influence the GMP?
GMP is influenced by market sentiment, demand for the IPO, and overall market conditions.
Can I track the subscription status of the IPO?
Yes, the subscription status will be updated daily during the subscription period.
What is the price band for the IPO?
The price band is set between ₹[Lower Price] and ₹[Upper Price] per share.
Is Garuda Construction and Engineering Limited a good investment?
Investment decisions should be based on thorough research and individual risk tolerance. Consult with a financial advisor for personalized advice.
- Investment decisions should be based on thorough research and individual risk tolerance. Consult with a financial advisor for personalized advice.