Garuda Construction and Engineering Limited (MAINBOARD)

Oct 8, 2024 - Oct 10, 2024

Price ₹90 - ₹95
Premium ₹0
Lot size 157
Allotment Oct 11, 2024
Listing Oct 15, 2024

Category Lot(s) Qty Amount Reserved
Retail 1 157 14915 61975
sHNI 14 2198 208810 632
bHNI 68 10676 1014220 1265

Last updated on 10-Oct-2024 18:35:02

CategoryOfferedAppliedTimes
QIBs600486274713161.24
HNIs4170000376699529.03
 HNIs 10+2780000220553607.93
 HNIs 2+13900001561459211.23
Retail973000010520303110.81
Total199048621503442997.55
Application Wise Breakup (Approx)
CategoryReservedAppliedTimes
HNIs (10L+)126519351.53
HNIs (2-10L)632639210.11
Retail6197569667511.24
Total Applications: 705002
© IPO Premium
Subscription Demand (in ₹ crore)
CategoryOfferedDemandTimes
QIBs57.0570.981.24
FIIs-68.32-
DIIs-0.06-
Mutual funds-0-
Others-2.59-
HNIs39.62357.869.03
HNIs 10+26.41209.537.93
HNIs 2+13.21148.3411.23
Retail92.44999.4310.81
Total189.11428.277.55
QIB Interest Cost per share (7 Days)
@7%
₹0.16
@8%
₹0.18
@9%
₹0.2
@10%
₹0.23
@11%
₹0.25
@12%
₹0.27
About

Garuda Construction and Engineering IPO Details

Issue Size27,800,000 shares
(aggregating up to ₹264.10 Cr)
Fresh Issue18,300,000 shares
(aggregating up to ₹173.85 Cr)
Offer for Sale9,500,000 shares of ₹5
(aggregating up to ₹90.25 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue74,741,742
Share holding post issue93,041,742

Garuda Construction and Engineering IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50.00% of the Net offer
Retail Shares OfferedNot less than 35.00% of the Net Issue
NII (HNI) Shares OfferedNot less than 15.00% of the Net Offer

Key Performance Indicator

KPIMar-24Mar-23Mar-22
ROE36.14%65.59%57.97%
ROCE46.69%70.85%40.46%
RONW30.62%49.38%44.94%
EPS
(basic)
4.875.462.51
P/E
Pre IPO
19.49
P/E
Post IPO
21.03

Company Financials

Garuda Construction and Engineering Limited Financial Information (Restated)

Garuda Construction and Engineering Limited's revenue decreased by -4% and profit after tax (PAT) dropped by -11% between the financial year ending with March 31, 2024 and March 31, 2023.

PeriodApr 2024Mar 2024Mar 2023Mar 2022
Assets234.84228.49176.35111.03
Revenue11.88154.47161.0277.03
Profit3.536.4440.818.78
Net Worth122.51119.0182.6141.79
Reserves85.1681.6570.1329.34
Borrowing0.150.150.1911.99
Amount in ₹ Crore

About Company

Garuda Construction and Engineering Limited, founded in 2010, is a construction company that offers a wide range of services across various sectors, including residential, commercial, mixed-use residential /commercial, infrastructure, and industrial projects. In addition to core construction services, the company also provides specialized services such as operation and maintenance (O&M), mechanical, electrical, and plumbing (MEP) services, and finishing works. Garuda extends its expertise to infrastructure and hospitality projects, ensuring comprehensive project execution. As of September 28, 2024, the company had 65 permanent employees, supporting its diverse service offerings.

Lead Manager(s)

Corpwis Advisors Private Limited

Strength

Focused Business Approach: The Company specializes in residential and commercial construction and is expanding into industrial and infrastructure projects, demonstrating strategic growth.

Proven Track Record: With successful projects like the Golden Chariot hotels and multiple residential developments in MMR, the company has a strong history of delivering quality work.

Project Management Expertise: The Company’s strong execution and management capabilities enable it to efficiently complete projects across various regions, including MMR, Karnataka, and Tamil Nadu.

Weakness

Client Concentration: The company's total revenue is heavily dependent on its top 10 clients, primarily promoter-related entities, making it vulnerable to significant financial impact if any major client is lost.

Limited Third-Party Experience: With limited experience working with unrelated third-party clients, the company's growth may be constrained if it cannot expand beyond its promoter group and associated companies.

Cyclical Industry: The construction industry is highly sensitive to economic fluctuations, and downturns could adversely affect the company’s operations and financial performance.

Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: garudaconstructions.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html